GATX Corporation (NYSE:GATX) Raised to Buy at Zacks Investment Research

GATX Corporation (NYSE:GATX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, July 24th. The brokerage presently has a $69.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 14.09% from the company’s current price.

According to Zacks, “Shares of GATX Corporation have outperformed the industry it belongs to, in the last one year, on the back of its strong product portfolio and impressive earnings history. Ushering in further good news, the company reported better-than-expected earnings per share in the second quarter of 2017. We are also impressed by GATX Corporation's efforts to reward investors through share buybacks and dividend payments. However, the company's struggles on the top line front bother us. Moreover, GATX Corporation is a highly leveraged company.”

Several other brokerages have also commented on GATX. Buckingham Research initiated coverage on GATX Corporation in a report on Wednesday, June 21st. They issued a “neutral” rating and a $64.00 price objective for the company. Stifel Nicolaus raised GATX Corporation from a “sell” rating to a “hold” rating and boosted their price target for the company from $50.00 to $54.00 in a report on Monday, July 17th. Citigroup Inc. cut their price target on GATX Corporation from $73.00 to $71.00 and set a “buy” rating for the company in a report on Friday, July 21st. ValuEngine raised GATX Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Finally, Axiom Securities reissued a “sell” rating on shares of GATX Corporation in a report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $56.14.

Shares of GATX Corporation (NYSE:GATX) traded down 0.02% during midday trading on Monday, reaching $60.48. The company had a trading volume of 222,772 shares. GATX Corporation has a one year low of $40.66 and a one year high of $66.30. The company has a 50-day moving average price of $62.47 and a 200 day moving average price of $60.72. The company has a market capitalization of $2.34 billion, a P/E ratio of 10.20 and a beta of 1.19.

GATX Corporation (NYSE:GATX) last posted its quarterly earnings results on Thursday, July 20th. The transportation company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.21. GATX Corporation had a return on equity of 17.83% and a net margin of 17.09%. The firm had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $352.64 million. During the same quarter in the previous year, the business earned $1.49 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. Equities analysts anticipate that GATX Corporation will post $4.60 earnings per share for the current fiscal year.

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In other news, VP James M. Conniff sold 638 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $64.94, for a total transaction of $41,431.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas A. Ellman sold 2,239 shares of the stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $61.52, for a total value of $137,743.28. Following the sale, the executive vice president now owns 30,740 shares of the company’s stock, valued at approximately $1,891,124.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,517 shares of company stock valued at $601,618. Company insiders own 3.50% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in GATX Corporation during the second quarter worth approximately $272,000. Public Employees Retirement System of Ohio boosted its stake in GATX Corporation by 0.5% in the second quarter. Public Employees Retirement System of Ohio now owns 19,651 shares of the transportation company’s stock worth $1,263,000 after buying an additional 107 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in GATX Corporation during the second quarter worth approximately $249,000. BlueCrest Capital Management Ltd acquired a new stake in GATX Corporation during the second quarter worth approximately $244,000. Finally, State Street Corp boosted its stake in GATX Corporation by 4.5% in the second quarter. State Street Corp now owns 1,392,167 shares of the transportation company’s stock worth $89,470,000 after buying an additional 59,729 shares during the period.

GATX Corporation Company Profile

GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management.

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