Zacks Investment Research upgraded shares of CAI International (NYSE:CAI) from a hold rating to a buy rating in a report issued on Monday morning. They currently have $28.00 price objective on the transportation company’s stock.

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. “

Several other equities analysts have also issued reports on the stock. Wells Fargo & Co lowered shares of CAI International from an outperform rating to a market perform rating and set a $22.00 price target on the stock. in a report on Friday, September 28th. Keefe, Bruyette & Woods raised shares of CAI International from a market perform rating to an outperform rating in a report on Thursday, September 6th. ValuEngine lowered shares of CAI International from a sell rating to a strong sell rating in a report on Friday, September 7th. Finally, Cowen cut their price target on shares of CAI International from $40.00 to $30.00 and set an outperform rating on the stock in a report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. CAI International currently has an average rating of Hold and an average target price of $29.50.

NYSE CAI opened at $23.83 on Monday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.41 and a current ratio of 0.41. CAI International has a 12-month low of $19.35 and a 12-month high of $35.37. The firm has a market capitalization of $478.99 million, a price-to-earnings ratio of 8.30, a PEG ratio of 0.81 and a beta of 2.25.

CAI International (NYSE:CAI) last released its quarterly earnings results on Tuesday, October 30th. The transportation company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.06. CAI International had a net margin of 22.90% and a return on equity of 13.05%. The business had revenue of $115.40 million for the quarter, compared to analyst estimates of $112.40 million. During the same period in the previous year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 27.9% on a year-over-year basis. Sell-side analysts anticipate that CAI International will post 3.85 EPS for the current year.

CAI International announced that its Board of Directors has authorized a share repurchase plan on Monday, October 8th that authorizes the company to buyback 3,000,000 outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in CAI. Sun Life Financial INC purchased a new stake in shares of CAI International during the second quarter valued at $173,000. Monarch Partners Asset Management LLC purchased a new stake in shares of CAI International during the third quarter valued at $282,000. MetLife Investment Advisors LLC grew its holdings in shares of CAI International by 53.5% during the third quarter. MetLife Investment Advisors LLC now owns 12,444 shares of the transportation company’s stock valued at $285,000 after buying an additional 4,337 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of CAI International during the third quarter valued at $414,000. Finally, Rhumbline Advisers grew its holdings in shares of CAI International by 13.0% during the second quarter. Rhumbline Advisers now owns 23,756 shares of the transportation company’s stock valued at $552,000 after buying an additional 2,728 shares during the last quarter. 88.35% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for CAI International (NYSE:CAI)

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