Textainer Group Holdings Limited (TGH) Stock Rating Lowered by Zacks Investment Research

Textainer Group Holdings Limited (NYSE:TGH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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 analysts also recently issued research reports about the company. SunTrust Banks, Inc. increased their target price on Textainer Group Holdings Limited from $9.50 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, January 25th. Cowen and Company upgraded Textainer Group Holdings Limited from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research note on Monday, January 23rd.

Textainer Group Holdings Limited (NYSE:TGH) opened at 14.70 on Friday. The company’s 50-day moving average price is $15.03 and its 200-day moving average price is $10.23. The firm’s market cap is $834.77 million. Textainer Group Holdings Limited has a 52-week low of $6.90 and a 52-week high of $17.60.

Textainer Group Holdings Limited (NYSE:TGH) last announced its earnings results on Thursday, February 16th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.03. Textainer Group Holdings Limited had a negative net margin of 5.79% and a negative return on equity of 2.45%. The business had revenue of $120.10 million for the quarter, compared to the consensus estimate of $118.03 million. During the same quarter in the previous year, the company earned $0.47 EPS. Textainer Group Holdings Limited’s revenue for the quarter was down 7.4% compared to the same quarter last year. Analysts predict that Textainer Group Holdings Limited will post $0.29 EPS for the current year.

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Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of Textainer Group Holdings Limited by 2.4% in the second quarter. Royal Bank of Canada now owns 146,019 shares of the company’s stock valued at $1,627,000 after buying an additional 3,429 shares during the last quarter. Prudential Financial Inc. boosted its position in Textainer Group Holdings Limited by 5.9% in the third quarter. Prudential Financial Inc. now owns 111,620 shares of the company’s stock valued at $836,000 after buying an additional 6,190 shares during the period. Allianz Asset Management AG boosted its position in Textainer Group Holdings Limited by 10.0% in the fourth quarter. Allianz Asset Management AG now owns 79,594 shares of the company’s stock valued at $593,000 after buying an additional 7,259 shares during the period. KBC Group NV boosted its position in Textainer Group Holdings Limited by 411.2% in the third quarter. KBC Group NV now owns 19,672 shares of the company’s stock valued at $147,000 after buying an additional 15,824 shares during the period. Finally, US Bancorp DE boosted its position in Textainer Group Holdings Limited by 47.6% in the third quarter. US Bancorp DE now owns 59,624 shares of the company’s stock valued at $447,000 after buying an additional 19,223 shares during the period. Hedge funds and other institutional investors own 17.42% of the company’s stock.

About Textainer Group Holdings Limited

Textainer Group Holdings Limited (TGH) 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 owned containers accounting for approximately 80% of the Company’s fleet; Container Management, which managed containers on behalf of approximately 10 affiliated and unaffiliated container investors, providing acquisition, management and disposal services, and total managed containers accounted for approximately 20% of its fleet, 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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