Share Repurchase Program Approved by CAI International (CAI) Board
CAI International (NYSE:CAI) declared that its Board of Directors has initiated a share buyback program, which authorizes the company to repurchase 3,000,000 outstanding shares on Monday, October 8th. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of equities analysts recently issued reports on the company. ValuEngine upgraded CAI International from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd. Wells Fargo & Co cut CAI International from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a report on Friday, September 28th. Zacks Investment Research upgraded CAI International from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Keefe, Bruyette & Woods upgraded CAI International from a “market perform” rating to an “outperform” rating in a report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $33.00.
Shares of NYSE CAI opened at $20.73 on Friday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market capitalization of $441.54 million, a P/E ratio of 7.23, a P/E/G ratio of 0.77 and a beta of 2.57. CAI International has a 52-week low of $19.35 and a 52-week high of $40.11.
CAI International Company Profile
CAI International, Inc operates as transportation finance and logistics company in the United States and internationally. The company operates through three segments: Container Leasing, Rail Leasing, and Logistics. It leases, re-leases, and disposes equipment; and contracts for the repair, repositioning, and storage of equipment.
Featured Story: Google Finance Portfolio Workaround
Receive News & Ratings for CAI International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CAI International and related companies with MarketBeat.com's FREE daily email newsletter.