Textainer Group Holdings Limited (TGH) Receives Buy Rating from SunTrust Banks, Inc.

SunTrust Banks, Inc. reissued their buy rating on shares of Textainer Group Holdings Limited (NYSE:TGH) in a research report report published on Tuesday morning. The firm currently has a $20.00 target price on the transportation company’s stock, up from their prior target price of $19.00.

Several other equities analysts have also recently weighed in on TGH. Cowen and Company reduced their price target 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. Keefe, Bruyette & Woods reiterated a hold rating on shares of Textainer Group Holdings Limited in a research report on Monday, May 15th. ValuEngine upgraded Textainer Group Holdings Limited from a sell rating to a hold rating in a research report on Saturday, June 17th. Zacks Investment Research upgraded Textainer Group Holdings Limited from a sell rating to a hold rating in a research report on Tuesday, July 18th. Finally, BidaskClub upgraded Textainer Group Holdings Limited from a buy rating to a strong-buy rating in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $19.00.

Shares of Textainer Group Holdings Limited (NYSE:TGH) opened at 15.75 on Tuesday. The stock’s 50 day moving average price is $16.37 and its 200-day moving average price is $14.41. Textainer Group Holdings Limited has a 52-week low of $6.90 and a 52-week high of $18.35. The company’s market capitalization is $894.80 million.

Textainer Group Holdings Limited (NYSE:TGH) last announced its quarterly earnings results on Tuesday, August 8th. The transportation company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.03). The company had revenue of $119.25 million during the quarter, compared to analysts’ expectations 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%. Textainer Group Holdings Limited’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 earnings per share. On average, equities analysts expect that Textainer Group Holdings Limited will post $0.14 earnings per share for the current year.

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A number of large investors have recently bought and sold shares of the stock. American International Group Inc. boosted its stake in Textainer Group Holdings Limited by 7.1% during 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 period. Teachers Advisors LLC boosted its stake in Textainer Group Holdings Limited by 2.7% during 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. Alliancebernstein L.P. boosted its stake in Textainer Group Holdings Limited by 6.0% during 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. Dimensional Fund Advisors LP boosted its stake in Textainer Group Holdings Limited by 0.3% during 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 period. Finally, The Manufacturers Life Insurance Company boosted its stake in Textainer Group Holdings Limited by 16.3% during 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 period. 22.42% of the stock is owned by institutional investors.

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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