Textainer Group Holdings Limited (TGH) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Textainer Group Holdings Limited (NYSE:TGH) from a hold rating to a strong-buy rating in a report released on Thursday morning. They currently have $27.00 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 equities analysts have also issued research reports about the company. SunTrust Banks, Inc. restated a buy rating and issued a $25.00 price target on shares of Textainer Group Holdings Limited in a research note on Friday, November 10th. Cowen and Company restated a buy rating and issued a $21.00 price target on shares of Textainer Group Holdings Limited in a research note on Tuesday, September 19th. Keefe, Bruyette & Woods restated a hold rating and issued a $16.00 price target on shares of Textainer Group Holdings Limited in a research note on Thursday, August 10th. ValuEngine upgraded Textainer Group Holdings Limited from a sell rating to a hold rating in a research note on Friday, August 4th. Finally, Wells Fargo & Company lifted their price target on Textainer Group Holdings Limited from $19.00 to $22.00 and gave the company a market perform rating in a research note on Tuesday, November 14th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $24.40.

Textainer Group Holdings Limited (TGH) opened at $22.55 on Thursday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.85 and a current ratio of 0.85. Textainer Group Holdings Limited has a fifty-two week low of $7.40 and a fifty-two week high of $24.10.

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

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Large investors have recently bought and sold shares of the business. Pacific Ridge Capital Partners LLC increased its stake in Textainer Group Holdings Limited by 7.3% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 158,320 shares of the transportation company’s stock worth $2,296,000 after buying an additional 10,800 shares in the last quarter. Royce & Associates LP increased its stake 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 buying an additional 378,600 shares in the last quarter. Prudential PLC purchased a new stake in Textainer Group Holdings Limited during the 2nd quarter worth approximately $4,671,000. Mangrove Partners purchased a new stake in Textainer Group Holdings Limited during the 2nd quarter worth approximately $1,519,000. Finally, Rhumbline Advisers increased its stake in Textainer Group Holdings Limited by 22.1% during the 2nd quarter. Rhumbline Advisers now owns 32,441 shares of the transportation company’s stock worth $470,000 after buying an additional 5,872 shares in the last quarter. Institutional investors own 23.62% 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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