Zacks Investment Research upgraded shares of Textainer Group (NYSE:TGH) from a hold rating to a strong-buy rating in a research report sent to investors on Saturday, Zacks.com reports. Zacks Investment Research currently has $30.00 price target on the transportation company’s stock.
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. “
Separately, B. Riley raised their price objective on Textainer Group from $36.00 to $42.00 and gave the company a buy rating in a research note on Friday, March 26th. They noted that the move was a valuation call.
Shares of TGH opened at $27.77 on Friday. Textainer Group has a 12-month low of $7.60 and a 12-month high of $31.73. The business’s fifty day moving average is $27.33 and its 200 day moving average is $22.42. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 2.79. The stock has a market cap of $1.40 billion, a P/E ratio of 26.70 and a beta of 1.57.
Textainer Group (NYSE:TGH) last issued its quarterly earnings data on Tuesday, May 11th. The transportation company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. Textainer Group had a return on equity of 4.53% and a net margin of 9.70%. On average, analysts expect that Textainer Group will post 1.38 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its position in shares of Textainer Group by 37.5% during the 1st quarter. Millennium Management LLC now owns 489,348 shares of the transportation company’s stock valued at $14,020,000 after purchasing an additional 133,354 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Textainer Group by 274.8% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 113,695 shares of the transportation company’s stock valued at $3,257,000 after purchasing an additional 83,357 shares during the last quarter. State of Wisconsin Investment Board increased its position in shares of Textainer Group by 13.1% during the 1st quarter. State of Wisconsin Investment Board now owns 13,800 shares of the transportation company’s stock valued at $395,000 after purchasing an additional 1,600 shares during the last quarter. Morgan Stanley increased its position in shares of Textainer Group by 25.0% during the 1st quarter. Morgan Stanley now owns 108,497 shares of the transportation company’s stock valued at $3,108,000 after purchasing an additional 21,725 shares during the last quarter. Finally, Tudor Investment Corp Et Al increased its position in shares of Textainer Group by 57.8% during the 1st quarter. Tudor Investment Corp Et Al now owns 37,890 shares of the transportation company’s stock valued at $1,086,000 after purchasing an additional 13,886 shares during the last quarter. 35.00% of the stock is owned by hedge funds and other institutional investors.
About Textainer Group
Textainer Group Holdings Ltd. engages in the purchase, management, leasing, and resale of a fleet of marine cargo containers. It operates through the following segments: Container Ownership, Container Management, and Container Resale. The Container Ownership segment consists primarily of standard dry freight containers and also includes special-purpose containers.
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