Textainer Group Holdings Limited (NYSE:TGH) Stock Rating Upgraded by ValuEngine
Textainer Group Holdings Limited (NYSE:TGH) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
Other analysts have also issued reports about the company. Cowen and Company restated a “buy” rating and issued a $21.00 price target on shares of Textainer Group Holdings Limited in a report on Tuesday, July 11th. Zacks Investment Research upgraded Textainer Group Holdings Limited from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Keefe, Bruyette & Woods restated a “hold” rating on shares of Textainer Group Holdings Limited in a report on Friday, May 5th. Finally, BidaskClub upgraded Textainer Group Holdings Limited from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $18.67.
Shares of Textainer Group Holdings Limited (NYSE TGH) traded up 1.22% during midday trading on Friday, reaching $16.55. The company had a trading volume of 234,824 shares. The company’s 50-day moving average is $14.44 and its 200-day moving average is $13.89. Textainer Group Holdings Limited has a 52-week low of $6.90 and a 52-week high of $17.60. The firm’s market cap is $939.94 million.
Textainer Group Holdings Limited (NYSE:TGH) last issued its quarterly earnings results on Thursday, May 4th. The transportation company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $116.87 million during the quarter, compared to the consensus estimate of $115.15 million. Textainer Group Holdings Limited had a negative net margin of 11.27% and a negative return on equity of 6.01%. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. Equities research analysts expect that Textainer Group Holdings Limited will post $0.03 EPS for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in Textainer Group Holdings Limited by 22.1% in the second quarter. Rhumbline Advisers now owns 32,441 shares of the transportation company’s stock valued at $470,000 after buying an additional 5,872 shares during the last quarter. Monarch Partners Asset Management LLC bought a new stake in Textainer Group Holdings Limited during the second quarter valued at about $538,000. Schwab Charles Investment Management Inc. raised its stake in Textainer Group Holdings Limited by 38.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 277,112 shares of the transportation company’s stock valued at $4,019,000 after buying an additional 77,533 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in Textainer Group Holdings Limited during the first quarter valued at about $1,678,000. Finally, Metropolitan Life Insurance Co. NY bought a new stake in Textainer Group Holdings Limited during the first quarter valued at about $255,000. Institutional investors and hedge funds own 21.60% of the company’s stock.
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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