Short Interest in CAI International, Inc. (CAI) Increases By 62.2%

CAI International, Inc. (NYSE:CAI) was the recipient of a large growth in short interest in March. As of March 29th, there was short interest totalling 815,936 shares, a growth of 62.2% from the March 15th total of 503,015 shares. Approximately 4.5% of the company’s stock are sold short. Based on an average trading volume of 282,328 shares, the short-interest ratio is presently 2.9 days.

CAI International stock opened at $21.66 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 2.79. The company has a market capitalization of $434.20, a P/E ratio of 7.55, a P/E/G ratio of 0.68 and a beta of 2.22. CAI International has a twelve month low of $14.43 and a twelve month high of $40.11.

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CAI International (NYSE:CAI) last posted its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.17. The company had revenue of $94.03 million for the quarter, compared to the consensus estimate of $95.66 million. CAI International had a return on equity of 11.21% and a net margin of 20.68%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) EPS. analysts expect that CAI International will post 3.87 EPS for the current fiscal year.

In other news, major shareholder Ogawa Family Trust sold 1,250,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $21.58, for a total value of $26,975,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.50% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in shares of CAI International in the 4th quarter worth approximately $165,000. C M Bidwell & Associates Ltd. grew its stake in shares of CAI International by 167.1% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 7,560 shares of the transportation company’s stock worth $214,000 after buying an additional 4,730 shares during the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of CAI International in the 4th quarter worth approximately $230,000. Cubist Systematic Strategies LLC purchased a new stake in shares of CAI International in the 3rd quarter worth approximately $276,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of CAI International in the 4th quarter worth approximately $330,000. Institutional investors own 74.52% of the company’s stock.

CAI has been the subject of several research reports. Zacks Investment Research raised CAI International from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Monday, February 19th. William Blair reissued an “outperform” rating on shares of CAI International in a research report on Tuesday, February 6th. Wells Fargo raised CAI International from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Wednesday, February 14th. Cowen decreased their target price on CAI International from $46.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Finally, ValuEngine lowered CAI International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. CAI International currently has a consensus rating of “Buy” and a consensus price target of $33.20.

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About CAI International

CAI International, Inc operates as transportation finance and logistics company in the United States and internationally. The company operates through three segments: Container Leasing, Rail Leasing, and Logistics. It leases, re-leases, and disposes equipment; and contracts for the repair, repositioning, and storage of equipment.

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