Textainer Group (TGH) Upgraded by Zacks Investment Research to Strong-Buy

Zacks Investment Research upgraded shares of Textainer Group (NYSE:TGH) from a hold rating to a strong-buy rating in a research report sent to investors on Saturday morning. Zacks Investment Research currently has $27.00 target price 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. “

A number of other equities analysts have also commented on the stock. Keefe, Bruyette & Woods reiterated a hold rating and set a $22.00 price target on shares of Textainer Group in a report on Sunday, November 19th. Wells Fargo & Co lifted their price target on shares of Textainer Group from $19.00 to $22.00 and gave the stock a market perform rating in a report on Tuesday, November 14th. SunTrust Banks reiterated a buy rating and set a $25.00 price target on shares of Textainer Group in a report on Friday, November 10th. Finally, Cowen lifted their price target on shares of Textainer Group from $21.00 to $26.00 and gave the stock an outperform rating in a report on Friday, November 10th. Three analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $24.40.

Shares of Textainer Group (TGH) traded up $0.25 during trading on Friday, reaching $24.25. 233,537 shares of the company’s stock were exchanged, compared to its average volume of 194,335. Textainer Group has a 1 year low of $9.60 and a 1 year high of $24.95. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $1,378.39, a price-to-earnings ratio of 808.60, a P/E/G ratio of 1.58 and a beta of 2.48.

Textainer Group (NYSE:TGH) last issued its earnings results on Thursday, November 9th. The transportation company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. The firm had revenue of $125.60 million for the quarter, compared to analyst estimates of $122.87 million. Textainer Group had a net margin of 0.38% and a negative return on equity of 0.44%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.92) earnings per share. research analysts expect that Textainer Group will post 0.35 earnings per share for the current year.

Several large investors have recently modified their holdings of TGH. Schwab Charles Investment Management Inc. lifted its holdings in shares of Textainer Group by 38.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 277,112 shares of the transportation company’s stock worth $4,019,000 after purchasing an additional 77,533 shares during the period. Rhumbline Advisers lifted its holdings in Textainer Group by 22.1% in the second quarter. Rhumbline Advisers now owns 32,441 shares of the transportation company’s stock valued at $470,000 after buying an additional 5,872 shares during the period. Wells Fargo & Company MN lifted its holdings in Textainer Group by 168.0% in the second quarter. Wells Fargo & Company MN now owns 111,470 shares of the transportation company’s stock valued at $1,616,000 after buying an additional 69,879 shares during the period. Alliancebernstein L.P. lifted its holdings in Textainer Group 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 period. Finally, Teachers Advisors LLC lifted its holdings in Textainer Group 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 period. Institutional investors own 24.48% of the company’s stock.

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Textainer Group 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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