Textainer Group Holdings Limited (TGH) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Textainer Group Holdings Limited (NYSE:TGH) from a hold rating to a sell rating in a research note released on Tuesday, July 25th.

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 equities analysts also recently weighed in on the company. Cowen and Company dropped their target price on Textainer Group Holdings Limited from $22.00 to $21.00 and set an outperform rating for the company in a research report on Monday, May 15th. ValuEngine raised Textainer Group Holdings Limited from a sell rating to a hold rating in a research report on Saturday, June 17th. Finally, Keefe, Bruyette & Woods reissued a hold rating on shares of Textainer Group Holdings Limited in a research report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Textainer Group Holdings Limited has an average rating of Hold and an average price target of $18.75.

Shares of Textainer Group Holdings Limited (NYSE TGH) traded down 1.64% during midday trading on Tuesday, reaching $15.00. 162,329 shares of the company’s stock were exchanged. Textainer Group Holdings Limited has a 12-month low of $6.90 and a 12-month high of $17.60. The stock’s 50 day moving average is $15.29 and its 200-day moving average is $14.21. The stock’s market cap is $852.20 million.

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

WARNING: This article was first reported by BNB Daily and is the property of of BNB Daily. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.baseball-news-blog.com/2017/08/19/textainer-group-holdings-limited-tgh-downgraded-by-zacks-investment-research-to-sell-updated-updated-updated.html.

Several institutional investors have recently made changes to their positions in TGH. American International Group Inc. boosted its stake in Textainer Group Holdings Limited by 7.1% in the first 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. Teachers Advisors LLC boosted its stake in Textainer Group Holdings Limited by 2.7% in the second quarter. Teachers Advisors LLC now owns 49,019 shares of the transportation company’s stock valued at $711,000 after buying an additional 1,296 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Textainer Group Holdings Limited by 6.0% in the second quarter. Alliancebernstein L.P. now owns 22,900 shares of the transportation company’s stock valued at $332,000 after buying an additional 1,300 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Textainer Group Holdings Limited by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 762,629 shares of the transportation company’s stock valued at $11,058,000 after buying an additional 2,492 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Textainer Group Holdings Limited by 16.3% in the second quarter. The Manufacturers Life Insurance Company now owns 22,734 shares of the transportation company’s stock valued at $329,000 after buying an additional 3,185 shares during the last quarter. 22.19% of the stock is owned by institutional investors and hedge funds.

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.

Get a free copy of the Zacks research report on Textainer Group Holdings Limited (TGH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Textainer Group Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textainer Group Holdings Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply