CAI International Inc (NYSE:CAI) posted its quarterly earnings data on Thursday. The transportation company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.14. CAI International had a negative net margin of 2.50% and a positive return on equity of 6.00%. The company had revenue of $81.50 million during the quarter, compared to analyst estimates of $78.69 million. During the same quarter last year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 21.6% on a year-over-year basis.
Shares of CAI International (NYSE:CAI) opened at 18.84 on Friday. CAI International has a 52-week low of $6.75 and a 52-week high of $22.57. The stock has a 50 day moving average of $18.20 and a 200-day moving average of $13.76. The stock has a market capitalization of $358.75 million, a price-to-earnings ratio of 89.29 and a beta of 2.17.
A number of large investors have recently made changes to their positions in CAI. Metropolitan Life Insurance Co. NY purchased a new stake in shares of CAI International during the first quarter worth approximately $184,000. Schwab Charles Investment Management Inc. boosted its stake in shares of CAI International by 116.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 75,761 shares of the transportation company’s stock worth $1,193,000 after buying an additional 40,717 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of CAI International during the first quarter worth approximately $927,000. Dimensional Fund Advisors LP boosted its stake in shares of CAI International by 9.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,295,357 shares of the transportation company’s stock worth $20,389,000 after buying an additional 114,781 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of CAI International by 3.1% in the first quarter. Geode Capital Management LLC now owns 118,436 shares of the transportation company’s stock worth $1,864,000 after buying an additional 3,611 shares during the period. 62.27% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CAI. Zacks Investment Research upgraded shares of CAI International from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research report on Monday, April 24th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $24.00 price objective (up from $20.00) on shares of CAI International in a research note on Sunday, April 23rd. Finally, Cowen and Company upped their price objective on shares of CAI International from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Friday, April 21st.
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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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