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

Textainer Group Holdings Limited (NYSE:TGH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage presently has a $21.00 price target on the transportation company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 5.79% from the company’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. “

A number of other equities research analysts have also commented on the company. Cowen and Company restated a “buy” rating and set a $21.00 price objective on shares of Textainer Group Holdings Limited in a research report on Tuesday, September 19th. SunTrust Banks, Inc. restated a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of Textainer Group Holdings Limited in a research report on Tuesday, September 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $16.00 price objective on shares of Textainer Group Holdings Limited in a research report on Thursday, August 10th. ValuEngine upgraded Textainer Group Holdings Limited from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, BidaskClub upgraded Textainer Group Holdings Limited from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.40.

Textainer Group Holdings Limited (NYSE:TGH) opened at 19.85 on Friday. The stock’s 50 day moving average is $17.36 and its 200 day moving average is $14.92. The stock’s market capitalization is $1.13 billion. Textainer Group Holdings Limited has a one year low of $6.90 and a one year high of $20.16.

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

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Several institutional investors have recently made changes to their positions in TGH. Ameriprise Financial Inc. lifted its holdings in shares of Textainer Group Holdings Limited by 18.9% during the 1st quarter. Ameriprise Financial Inc. now owns 339,749 shares of the transportation company’s stock valued at $5,198,000 after buying an additional 54,102 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Textainer Group Holdings Limited by 13.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 194,423 shares of the transportation company’s stock valued at $2,975,000 after buying an additional 22,897 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Textainer Group Holdings Limited by 7.1% during the 1st quarter. American International Group Inc. now owns 13,970 shares of the transportation company’s stock valued at $214,000 after buying an additional 926 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Textainer Group Holdings Limited by 14.9% during the 1st quarter. Alliancebernstein L.P. now owns 21,600 shares of the transportation company’s stock valued at $330,000 after buying an additional 2,800 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Textainer Group Holdings Limited by 20.2% during the 1st quarter. Wellington Management Group LLP now owns 1,310,131 shares of the transportation company’s stock valued at $20,045,000 after buying an additional 220,193 shares during the last quarter. Institutional investors and hedge funds own 22.38% of the company’s stock.

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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