Textainer Group (TGH) Cut to Hold at Zacks Investment Research

Textainer Group (NYSE:TGH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.

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. “

A number of other equities research analysts have also recently issued reports on the stock. ValuEngine raised shares of Textainer Group from a “strong sell” rating to a “sell” rating in a report on Friday, January 4th. TheStreet cut shares of Textainer Group from a “c” rating to a “d+” rating in a report on Friday, November 2nd. Cowen reaffirmed an “outperform” rating and issued a $20.00 target price (down from $22.00) on shares of Textainer Group in a report on Monday, November 5th. Finally, Wells Fargo & Co cut shares of Textainer Group from a “market perform” rating to an “underperform” rating and set a $11.00 target price on the stock. in a report on Friday, September 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $16.40.

NYSE:TGH traded up $0.08 on Friday, hitting $12.08. 77,528 shares of the company’s stock were exchanged, compared to its average volume of 110,553. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.74 and a quick ratio of 0.74. Textainer Group has a 52 week low of $9.10 and a 52 week high of $26.50. The stock has a market capitalization of $680.03 million, a PE ratio of 29.46 and a beta of 2.31.

Textainer Group (NYSE:TGH) last issued its earnings results on Friday, November 2nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.05. The company had revenue of $149.40 million for the quarter, compared to analysts’ expectations of $145.54 million. Textainer Group had a net margin of 10.01% and a return on equity of 5.79%. Textainer Group’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. On average, analysts anticipate that Textainer Group will post 1.04 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Textainer Group by 1.0% in the 3rd quarter. BlackRock Inc. now owns 1,326,334 shares of the transportation company’s stock valued at $16,977,000 after purchasing an additional 13,653 shares during the period. Dimensional Fund Advisors LP raised its holdings in Textainer Group by 12.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,270,964 shares of the transportation company’s stock valued at $16,269,000 after acquiring an additional 139,957 shares during the period. Clearbridge Investments LLC raised its holdings in Textainer Group by 1,166,228.0% in the 3rd quarter. Clearbridge Investments LLC now owns 956,389 shares of the transportation company’s stock valued at $12,242,000 after acquiring an additional 956,307 shares during the period. FMR LLC raised its holdings in Textainer Group by 1.3% in the 3rd quarter. FMR LLC now owns 796,416 shares of the transportation company’s stock valued at $10,194,000 after acquiring an additional 10,132 shares during the period. Finally, Royce & Associates LP raised its holdings in Textainer Group by 10.9% in the 3rd quarter. Royce & Associates LP now owns 747,276 shares of the transportation company’s stock valued at $9,565,000 after acquiring an additional 73,320 shares during the period. 24.54% of the stock is currently owned by institutional investors.

About Textainer Group

Textainer Group Holdings Limited, through its subsidiaries, engages in the purchase, ownership, management, leasing, and disposal of a fleet of intermodal containers worldwide. It operates through three segments: Container Ownership, Container Management, and Container Resale. The company owns and leases standard dry freight containers, refrigerated, and other special-purpose containers.

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