Textainer Group Holdings Limited (NYSE:TGH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday. The firm currently has a $27.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 19.73% from the company’s previous close.
According to Zacks, “TEXTAINER GROUP is the worlds largest lessor of intermodal containers with a total fleet of more than 1.3 million containers, representing over 2,000,000 TEU. They lease containers to more than 400 shipping lines and other lessees, including each of the world’s top 20 container lines. Yhey are also the primary supplier of leased containers to the U.S. Military. Their goal is to be the most reliable lessor of containers in locations where their customers need them. They have provided an average of more than 100,000 TEU of new containers per year for the past 10 years, and have been one of the largest purchasers of new containers among container lessors over the same period. They are also one of the largest sellers of used containers , having sold an average of more than 53,000 containers per year for the last five years. “
TGH has been the subject of a number of other reports. Cowen and Company reaffirmed a “buy” rating and set a $21.00 price objective on shares of Textainer Group Holdings Limited in a research report on Tuesday, September 19th. Wells Fargo & Company lifted their price objective on shares of Textainer Group Holdings Limited from $19.00 to $22.00 and gave the stock a “market perform” rating in a research report on Tuesday. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $25.00 price objective on shares of Textainer Group Holdings Limited in a research report on Friday, November 10th. BidaskClub raised shares of Textainer Group Holdings Limited from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.00 target price on shares of Textainer Group Holdings Limited in a research report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Textainer Group Holdings Limited presently has a consensus rating of “Buy” and a consensus price target of $23.20.
Textainer Group Holdings Limited (NYSE:TGH) opened at $22.55 on Thursday. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.85 and a quick ratio of 0.85. Textainer Group Holdings Limited has a 52-week low of $7.40 and a 52-week high of $24.10.
Textainer Group Holdings Limited (NYSE:TGH) last released its quarterly earnings data on Thursday, November 9th. The transportation company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.19. Textainer Group Holdings Limited had a net margin of 0.38% and a negative return on equity of 0.44%. The firm had revenue of $125.60 million during the quarter, compared to analysts’ expectations of $122.87 million. During the same period in the previous year, the business posted ($0.92) earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. equities research analysts expect that Textainer Group Holdings Limited will post 0.33 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC bought a new stake in shares of Textainer Group Holdings Limited in the second quarter valued at about $170,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Textainer Group Holdings Limited in the third quarter valued at about $190,000. Tudor Investment Corp ET AL bought a new stake in shares of Textainer Group Holdings Limited in the second quarter valued at about $202,000. American International Group Inc. boosted its position in shares of Textainer Group Holdings Limited by 7.1% in the first quarter. American International Group Inc. now owns 13,970 shares of the transportation company’s stock valued at $214,000 after acquiring an additional 926 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Textainer Group Holdings Limited by 240.5% in the third quarter. Cubist Systematic Strategies LLC now owns 12,925 shares of the transportation company’s stock valued at $222,000 after acquiring an additional 9,129 shares during the period. 22.96% of the stock is owned by institutional investors.
Textainer Group Holdings Limited Company Profile
Textainer Group Holdings Limited is a holding company. The Company is involved in the purchase, ownership, management, leasing and disposal of a fleet of intermodal containers. The Company operates in three segments: Container Ownership, which owns containers; Container Management, which manages containers on behalf of affiliated and unaffiliated container investors, and provides acquisition, management and disposal services, and total managed containers, and Container Resale, which sells containers from its fleet when they reach the end of their useful lives in marine service, and also purchases and leases or resells containers from shipping line customers, container traders and other sellers of containers.
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