Textainer Group Holdings Limited (TGH) Trading Up -1.7% on Analyst Upgrade

Shares of Textainer Group Holdings Limited (NYSE:TGH) were up 1.7% on Monday after Wells Fargo & raised their price target on the stock from $19.00 to $22.00. Wells Fargo & currently has a market perform rating on the stock. Textainer Group Holdings Limited traded as high as $24.10 and last traded at $22.80. Approximately 183,094 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 211,907 shares. The stock had previously closed at $23.20.

Other analysts also recently issued reports about the company. SunTrust Banks, Inc. restated a “buy” rating and issued a $25.00 price objective on shares of Textainer Group Holdings Limited in a report on Friday, November 10th. Zacks Investment Research upgraded Textainer Group Holdings Limited from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Friday, October 20th. Cowen and Company restated a “buy” rating and issued a $21.00 price objective on shares of Textainer Group Holdings Limited in a report on Tuesday, September 19th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $16.00 price objective on shares of Textainer Group Holdings Limited in a report on Thursday, August 10th. Finally, ValuEngine upgraded Textainer Group Holdings Limited from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.00.

A number of institutional investors have recently modified their holdings of TGH. Thompson Siegel & Walmsley LLC acquired a new stake in Textainer Group Holdings Limited during the 3rd quarter worth about $7,835,000. Royce & Associates LP grew its holdings in Textainer Group Holdings Limited by 98.4% during the 2nd quarter. Royce & Associates LP now owns 763,190 shares of the transportation company’s stock worth $11,066,000 after acquiring an additional 378,600 shares during the period. Prudential PLC acquired a new stake in Textainer Group Holdings Limited during the 2nd quarter worth about $4,671,000. Monarch Partners Asset Management LLC grew its holdings in Textainer Group Holdings Limited by 845.5% during the 3rd quarter. Monarch Partners Asset Management LLC now owns 350,490 shares of the transportation company’s stock worth $6,011,000 after acquiring an additional 313,420 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Textainer Group Holdings Limited by 71.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 583,916 shares of the transportation company’s stock worth $8,467,000 after acquiring an additional 244,167 shares during the period. Hedge funds and other institutional investors own 22.96% of the company’s stock.

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.19.

Textainer Group Holdings Limited (NYSE:TGH) last issued its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.19. The firm had revenue of $125.60 million during the quarter, compared to the consensus estimate of $122.87 million. Textainer Group Holdings Limited had a negative return on equity of 0.44% and a net margin of 0.38%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business posted ($0.92) EPS. analysts predict that Textainer Group Holdings Limited will post 0.14 EPS for the current fiscal year.

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Textainer Group Holdings Limited Company Profile

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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