CAI International (NYSE:CAI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm presently has a $25.00 price target on the transportation company’s stock. Zacks Investment Research‘s target price points to a potential upside of 14.16% from the company’s current price.
According to Zacks, “CAI INTERNATIONAL, INC. is one of the world’s leading intermodal freight container leasing and management companies. Intermodal freight containers are large, standardized steel boxes, which CAI leases primarily to international steamship companies, and are used to transport cargo by a number of means, including ship, truck and rail. A portion of the container fleet is owned by CAI with the balance being owned by third parties on whose behalf CAI manages the containers. Accordingly, CAI operates its business through two segments: container leasing and container fleet management. Through its international network of offices and agents CAI also has developed an active after-market program for containers retired from the international shipping fleet. “
A number of other research firms have also issued reports on CAI. ValuEngine lowered CAI International from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. William Blair restated an “outperform” rating on shares of CAI International in a research report on Tuesday, February 6th. Cowen upgraded CAI International from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $34.00 to $46.00 in a research report on Monday, October 23rd. Finally, Wells Fargo & Co upgraded CAI International from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $33.20.
CAI International (NYSE:CAI) last issued its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.17. CAI International had a return on equity of 11.69% and a net margin of 20.68%. The business had revenue of $94.03 million during the quarter, compared to the consensus estimate of $95.66 million. During the same period in the previous year, the business earned ($0.09) EPS. The business’s quarterly revenue was up 21.7% on a year-over-year basis. research analysts forecast that CAI International will post 3.89 EPS for the current year.
In other CAI International news, CFO Timothy B. Page sold 10,184 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $33.06, for a total transaction of $336,683.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David G. Remington sold 4,040 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $32.68, for a total value of $132,027.20. Following the transaction, the director now owns 4,581 shares of the company’s stock, valued at approximately $149,707.08. The disclosure for this sale can be found here. Insiders have sold a total of 25,824 shares of company stock valued at $847,218 in the last quarter. 24.50% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in CAI. Acadian Asset Management LLC acquired a new position in CAI International during the 4th quarter worth $165,000. C M Bidwell & Associates Ltd. boosted its position in CAI International by 167.1% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 7,560 shares of the transportation company’s stock worth $214,000 after acquiring an additional 4,730 shares during the period. MetLife Investment Advisors LLC acquired a new position in CAI International during the 4th quarter worth $230,000. Alliancebernstein L.P. acquired a new position in CAI International during the 2nd quarter worth $248,000. Finally, Voya Investment Management LLC acquired a new position in CAI International during the 2nd quarter worth $253,000. Institutional investors own 70.65% 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.
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