CAI International, Inc. (NYSE:CAI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $35.00 target price on the transportation company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.54% from the stock’s current price.

According to Zacks, “CAI INTERNATIONAL, INC. is one of the world’s leading intermodal freight container leasing and management companies. Intermodal freight containers are large, standardized steel boxes, which CAI leases primarily to international steamship companies, and are used to transport cargo by a number of means, including ship, truck and rail. A portion of the container fleet is owned by CAI with the balance being owned by third parties on whose behalf CAI manages the containers. Accordingly, CAI operates its business through two segments: container leasing and container fleet management. Through its international network of offices and agents CAI also has developed an active after-market program for containers retired from the international shipping fleet. “

Other equities analysts also recently issued research reports about the company. ValuEngine upgraded CAI International from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Cowen and Company lifted their price objective on CAI International from $23.00 to $28.00 and gave the company a “market perform” rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.00 price objective on shares of CAI International in a research report on Friday, July 14th. Finally, TheStreet upgraded CAI International from a “d+” rating to a “c” rating in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. CAI International currently has a consensus rating of “Buy” and an average target price of $29.75.

CAI International (NYSE:CAI) traded down 0.16% on Thursday, hitting $31.38. The stock had a trading volume of 233,067 shares. The firm has a market cap of $601.55 million, a P/E ratio of 45.81 and a beta of 2.19. CAI International has a 1-year low of $6.75 and a 1-year high of $32.40. The firm’s 50-day moving average price is $29.94 and its 200-day moving average price is $24.39.

CAI International (NYSE:CAI) last posted its earnings results on Wednesday, July 26th. The transportation company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.09. The business had revenue of $82.69 million during the quarter, compared to the consensus estimate of $85.18 million. CAI International had a return on equity of 4.13% and a net margin of 4.14%. CAI International’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. On average, equities research analysts predict that CAI International will post $2.32 earnings per share for the current year.

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In other CAI International news, Director Hiromitsu Ogawa sold 693,927 shares of CAI International stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $26.60, for a total value of $18,458,458.20. Following the completion of the transaction, the director now owns 712,433 shares in the company, valued at approximately $18,950,717.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 24.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CAI. Royce & Associates LP bought a new position in CAI International in the 1st quarter valued at $4,032,000. Ameriprise Financial Inc. raised its position in CAI International by 291.4% in the 1st quarter. Ameriprise Financial Inc. now owns 278,902 shares of the transportation company’s stock valued at $4,389,000 after purchasing an additional 207,639 shares during the last quarter. Dimensional Fund Advisors LP raised its position in CAI International by 9.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,295,357 shares of the transportation company’s stock valued at $20,389,000 after purchasing an additional 114,781 shares during the last quarter. James Investment Research Inc. bought a new position in CAI International in the 2nd quarter valued at $1,697,000. Finally, TIAA CREF Investment Management LLC raised its position in CAI International by 80.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 141,547 shares of the transportation company’s stock valued at $3,341,000 after purchasing an additional 62,988 shares during the last quarter. Hedge funds and other institutional investors own 58.10% of the company’s stock.

About CAI International

CAI International, Inc is a transportation finance and logistics company. The Company purchases equipment, primarily intermodal shipping containers and railcars, which it leases to its customers, and also manages equipment for third-party investors. The Company operates through three segments: container leasing, rail leasing and logistics.

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