GATX PT Raised to $54.00 at Stifel Nicolaus (GMT)
“We expect the company’s Lease Price Index to continue rising nicely in 2013. In recent quarters, the company’s lease rates have exceeded the rates on expiring leases (with multi-year durations) by strong double digits and that should also be true for the duration of 2013. … We expect the OEMs’ tank car backlogs to be higher at the end of 1Q13 than the end of 4Q12. We believe comments provided by the management team of Trinity Industries on its most recent conference call as well as comments from a range of participants at the Upgrading Crude By Rail Summit point toward very strong order activity for tank cars in 1Q13.,” the firm’s analyst commented.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a neutral rating on shares of GATX in a research note to investors on Friday, February 1st. They now have a $50.00 price target on the stock. Analysts at Raymond James downgraded shares of GATX from a strong-buy rating to an outperform rating in a research note to investors on Friday, January 25th. They now have a $52.00 price target on the stock.
Four analysts have rated the stock with a buy rating, one has assigned an overweight rating, and one has given a hold rating to the company. The stock has a consensus rating of overweight and an average target price of $52.60.
GATX traded down 0.29% on Monday, hitting $50.77. GATX has a 52-week low of $35.52 and a 52-week high of $51.53. The stock’s 50-day moving average is currently $48.49. The company has a market cap of $2.386 billion and a price-to-earnings ratio of 17.68.
The company also recently announced a quarterly dividend, which is scheduled for Sunday, March 31st. Stockholders of record on Friday, March 1st will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Wednesday, February 27th. This is a boost from GATX’s previous quarterly dividend of $0.30.
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