Textainer Group Holdings Limited (TGH) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Textainer Group Holdings Limited (NYSE:TGH) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. They currently have $20.00 price objective on the transportation company’s stock.

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. “

Other analysts have also recently issued research reports about the stock. Cowen and Company restated a buy rating and issued 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 issued a $20.00 price objective (up previously from $19.00) on shares of Textainer Group Holdings Limited in a research report on Tuesday, September 12th. ValuEngine upgraded shares of Textainer Group Holdings Limited from a sell rating to a hold rating in a research report on Saturday, June 17th. Keefe, Bruyette & Woods restated a hold rating and issued a $16.00 price objective on shares of Textainer Group Holdings Limited in a research report on Thursday, August 10th. Finally, BidaskClub upgraded shares of Textainer Group Holdings Limited from a buy rating to a strong-buy rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, two have issued 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 a consensus price target of $19.25.

Shares of Textainer Group Holdings Limited (NYSE TGH) traded down 1.37% during trading on Wednesday, hitting $18.00. The company had a trading volume of 128,443 shares. The firm has a 50 day moving average of $16.99 and a 200 day moving average of $14.73. Textainer Group Holdings Limited has a 12-month low of $6.90 and a 12-month high of $18.60. The stock’s market cap is $1.02 billion.

Textainer Group Holdings Limited (NYSE:TGH) last released 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 net margin of 13.12% and a negative return on equity of 6.45%. The firm had revenue of $119.25 million during the quarter, compared to the consensus estimate of $120.62 million. During the same quarter in the prior year, the company earned $0.04 EPS. Textainer Group Holdings Limited’s quarterly revenue was down 6.1% on a year-over-year basis. On average, analysts forecast 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 have recently added to or reduced their stakes in TGH. Teachers Advisors LLC increased its holdings in Textainer Group Holdings Limited by 44.9% during the 4th quarter. Teachers Advisors LLC now owns 49,957 shares of the transportation company’s stock worth $372,000 after purchasing an additional 15,484 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in 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 worth $5,198,000 after purchasing an additional 54,102 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in 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 worth $2,975,000 after purchasing an additional 22,897 shares in the last quarter. American International Group Inc. increased its holdings in 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 worth $214,000 after purchasing an additional 926 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in 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 worth $330,000 after purchasing an additional 2,800 shares in the last quarter. Hedge funds and other institutional investors own 22.38% of the company’s stock.

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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