Textainer Group Holdings Limited (TGH) Upgraded by Zacks Investment Research to Hold
Textainer Group Holdings Limited (NYSE:TGH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
Other research analysts also recently issued research reports about the stock. Cowen and Company reaffirmed a “buy” rating and issued a $21.00 price target on shares of Textainer Group Holdings Limited in a report on Tuesday, July 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Textainer Group Holdings Limited in a report on Friday, May 5th. Finally, ValuEngine raised shares of Textainer Group Holdings Limited from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Textainer Group Holdings Limited has a consensus rating of “Hold” and a consensus price target of $18.67.
Textainer Group Holdings Limited (TGH) opened at 14.25 on Tuesday. The stock has a 50 day moving average price of $12.15 and a 200 day moving average price of $12.84. Textainer Group Holdings Limited has a 12-month low of $6.90 and a 12-month high of $17.60. The stock’s market cap is $809.31 million.
Textainer Group Holdings Limited (NYSE:TGH) last announced its quarterly earnings results on Thursday, May 4th. The transportation company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.01. Textainer Group Holdings Limited had a negative net margin of 11.27% and a negative return on equity of 6.01%. The business had revenue of $116.87 million during the quarter, compared to the consensus estimate of $115.15 million. During the same period in the previous year, the business posted $0.11 EPS. The firm’s revenue was down 9.1% on a year-over-year basis. On average, analysts forecast that Textainer Group Holdings Limited will post $0.05 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Textainer Group Holdings Limited during the fourth quarter worth $516,000. State Street Corp raised its stake in Textainer Group Holdings Limited by 17.2% in the fourth quarter. State Street Corp now owns 406,172 shares of the transportation company’s stock worth $3,026,000 after buying an additional 59,500 shares during the period. Dimensional Fund Advisors LP raised its stake in Textainer Group Holdings Limited by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 748,540 shares of the transportation company’s stock worth $5,577,000 after buying an additional 46,913 shares during the period. Allianz Asset Management AG raised its stake in Textainer Group Holdings Limited by 10.0% in the fourth quarter. Allianz Asset Management AG now owns 79,594 shares of the transportation company’s stock worth $593,000 after buying an additional 7,259 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Textainer Group Holdings Limited by 83.4% in the fourth quarter. Renaissance Technologies LLC now owns 220,100 shares of the transportation company’s stock worth $1,640,000 after buying an additional 100,100 shares during the period. 21.60% of the stock is currently owned by institutional investors.
About Textainer Group Holdings Limited
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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