Textainer Group (TGH) Rating Increased to Buy at Zacks Investment Research

Textainer Group (NYSE:TGH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $16.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.88% from the stock’s previous close.

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. “

Several other analysts also recently commented on TGH. Compass Point started coverage on shares of Textainer Group in a report on Monday, April 23rd. They set a “neutral” rating and a $17.00 target price on the stock. ValuEngine upgraded shares of Textainer Group from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Cowen lowered their price objective on shares of Textainer Group from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, TheStreet upgraded shares of Textainer Group from a “d+” rating to a “c” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $20.50.

TGH stock traded up $0.30 during mid-day trading on Friday, hitting $14.05. 244,795 shares of the company were exchanged, compared to its average volume of 147,245. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.91 and a current ratio of 0.57. The company has a market capitalization of $785.09 million, a P/E ratio of 11.46 and a beta of 2.67. Textainer Group has a 1-year low of $13.50 and a 1-year high of $26.50.

Textainer Group (NYSE:TGH) last announced its earnings results on Tuesday, August 7th. The transportation company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). The company had revenue of $140.70 million for the quarter, compared to analyst estimates of $142.41 million. Textainer Group had a return on equity of 5.58% and a net margin of 13.60%. analysts forecast that Textainer Group will post 1.37 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of TGH. Bank of New York Mellon Corp raised its holdings in shares of Textainer Group by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 114,713 shares of the transportation company’s stock valued at $2,466,000 after purchasing an additional 9,605 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Textainer Group by 1.6% in the fourth quarter. BlackRock Inc. now owns 1,232,324 shares of the transportation company’s stock valued at $26,495,000 after purchasing an additional 19,738 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Textainer Group by 134.7% in the fourth quarter. Deutsche Bank AG now owns 99,128 shares of the transportation company’s stock valued at $2,130,000 after purchasing an additional 56,900 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Textainer Group by 25.7% in the fourth quarter. Millennium Management LLC now owns 159,786 shares of the transportation company’s stock valued at $3,435,000 after purchasing an additional 32,682 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in shares of Textainer Group in the fourth quarter valued at approximately $419,000. Institutional investors own 25.86% of the company’s stock.

Textainer Group Company Profile

Textainer Group Holdings Limited, through its subsidiaries, engages in the purchase, ownership, management, leasing, and disposal of a fleet of intermodal containers worldwide. It operates through three segments: Container Ownership, Container Management, and Container Resale. The company owns and leases standard dry freight containers, refrigerated, and other special-purpose containers.

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