Cowen and Company Reiterates “Buy” Rating for Textainer Group Holdings Limited (TGH)

Cowen and Company reaffirmed their buy rating on shares of Textainer Group Holdings Limited (NYSE:TGH) in a research note issued to investors on Tuesday. They currently have a $21.00 price objective on the transportation company’s stock.

Several other equities research analysts also recently weighed in on the company. ValuEngine raised Textainer Group Holdings Limited from a sell rating to a hold rating in a report on Saturday, June 17th. Zacks Investment Research raised Textainer Group Holdings Limited from a sell rating to a hold rating in a report on Tuesday, July 18th. SunTrust Banks, Inc. reissued a buy rating and issued a $20.00 price target (up previously from $19.00) on shares of Textainer Group Holdings Limited in a report on Tuesday, September 12th. Keefe, Bruyette & Woods reissued a hold rating and issued a $16.00 price target on shares of Textainer Group Holdings Limited in a report on Thursday, August 10th. Finally, BidaskClub raised Textainer Group Holdings Limited from a buy rating to a strong-buy rating in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $19.00.

Textainer Group Holdings Limited (NYSE:TGH) opened at 17.00 on Tuesday. The stock’s market cap is $965.82 million. The firm has a 50-day moving average price of $16.38 and a 200-day moving average price of $14.41. Textainer Group Holdings Limited has a 12 month low of $6.90 and a 12 month high of $18.35.

Textainer Group Holdings Limited (NYSE:TGH) last issued its quarterly earnings data on Tuesday, August 8th. The transportation company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Textainer Group Holdings Limited had a negative net margin of 13.12% and a negative return on equity of 6.45%. The company had revenue of $119.25 million for the quarter, compared to the consensus estimate of $120.62 million. During the same period in the previous year, the business earned $0.04 EPS. Textainer Group Holdings Limited’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts expect that Textainer Group Holdings Limited will post $0.14 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rutabaga Capital Management LLC MA boosted its holdings in Textainer Group Holdings Limited by 13.3% in the second quarter. Rutabaga Capital Management LLC MA now owns 1,444,155 shares of the transportation company’s stock worth $20,940,000 after acquiring an additional 169,800 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Textainer Group Holdings Limited by 20.2% in the first quarter. Wellington Management Group LLP now owns 1,310,131 shares of the transportation company’s stock worth $20,045,000 after purchasing an additional 220,193 shares during the last quarter. Royce & Associates LP raised its stake in shares of Textainer Group Holdings Limited by 98.4% in the second quarter. Royce & Associates LP now owns 763,190 shares of the transportation company’s stock worth $11,066,000 after purchasing an additional 378,600 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Textainer Group Holdings Limited by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 762,629 shares of the transportation company’s stock worth $11,058,000 after purchasing an additional 2,492 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Textainer Group Holdings Limited by 71.9% in the second quarter. Ameriprise Financial Inc. now owns 583,916 shares of the transportation company’s stock worth $8,467,000 after purchasing an additional 244,167 shares during the last quarter. 22.38% of the stock is owned by institutional investors and hedge funds.

About Textainer Group Holdings Limited

Textainer Group Holdings Limited 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 owns containers; Container Management, which manages containers on behalf of affiliated and unaffiliated container investors, and provides acquisition, management and disposal services, and total managed containers, 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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