Wells Fargo & Company Raises CAI International, Inc. (CAI) Price Target to $32.00

CAI International, Inc. (NYSE:CAI) had its target price boosted by Wells Fargo & Company from $26.00 to $32.00 in a report published on Friday morning. They currently have a market perform rating on the transportation company’s stock.

Several other research firms also recently commented on CAI. Cowen and Company lifted their price objective on CAI International from $23.00 to $28.00 and gave the stock a market perform rating in a report on Thursday, July 27th. TheStreet upgraded CAI International from a d+ rating to a c rating in a report on Wednesday, July 26th. SunTrust Banks, Inc. reiterated a buy rating and issued a $40.00 price objective on shares of CAI International in a report on Friday. ValuEngine upgraded CAI International from a hold rating to a buy rating in a report on Friday, September 1st. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $26.00 price objective on shares of CAI International in a report on Friday, July 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $33.40.

Shares of CAI International (NYSE:CAI) opened at 37.26 on Friday. The firm has a 50 day moving average price of $30.13 and a 200-day moving average price of $24.60. The company has a market cap of $714.27 million, a price-to-earnings ratio of 54.39 and a beta of 2.19. CAI International has a 52-week low of $6.75 and a 52-week high of $37.37.

CAI International (NYSE:CAI) last released its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.20. CAI International had a return on equity of 7.23% and a net margin of 10.93%. The business had revenue of $90.16 million for the quarter, compared to the consensus estimate of $89.43 million. During the same quarter last year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts anticipate that CAI International will post $2.32 earnings per share for the current year.

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In other news, Director Hiromitsu Ogawa sold 693,927 shares of CAI International stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $26.60, for a total value of $18,458,458.20. Following the transaction, the director now owns 712,433 shares in the company, valued at $18,950,717.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 24.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its holdings in shares of CAI International by 116.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 75,761 shares of the transportation company’s stock worth $1,193,000 after buying an additional 40,717 shares during the period. Wells Fargo & Company MN increased its holdings in shares of CAI International by 451.7% in the first quarter. Wells Fargo & Company MN now owns 51,880 shares of the transportation company’s stock worth $816,000 after buying an additional 42,476 shares during the period. Royce & Associates LP increased its holdings in shares of CAI International by 26.9% in the second quarter. Royce & Associates LP now owns 325,162 shares of the transportation company’s stock worth $7,674,000 after buying an additional 69,000 shares during the period. 361 Capital LLC purchased a new position in shares of CAI International in the second quarter worth about $413,000. Finally, Chicago Equity Partners LLC purchased a new position in shares of CAI International in the second quarter worth about $925,000. Hedge funds and other institutional investors own 58.10% of the company’s stock.

CAI International Company Profile

CAI International, Inc is a transportation finance and logistics company. The Company purchases equipment, primarily intermodal shipping containers and railcars, which it leases to its customers, and also manages equipment for third-party investors. The Company operates through three segments: container leasing, rail leasing and logistics.

Analyst Recommendations for CAI International (NYSE:CAI)

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