Textainer Group (TGH) Reaches New 12-Month Low at $13.44

Textainer Group Holdings Limited (NYSE:TGH) hit a new 52-week low on Thursday . The stock traded as low as $13.44 and last traded at $13.50, with a volume of 154897 shares traded. The stock had previously closed at $13.60.

Several equities research analysts recently weighed in on the stock. Cowen reduced their price target on shares of Textainer Group from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 8th. TheStreet upgraded shares of Textainer Group from a “d+” rating to a “c” rating in a research report on Wednesday, August 8th. Zacks Investment Research cut shares of Textainer Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, ValuEngine cut shares of Textainer Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $20.50.

The stock has a market capitalization of $776.52 million, a price-to-earnings ratio of 32.93 and a beta of 2.71. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.17.

Textainer Group (NYSE:TGH) last announced its quarterly earnings results on Tuesday, August 7th. The transportation company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Textainer Group had a return on equity of 5.58% and a net margin of 13.60%. The business had revenue of $140.70 million during the quarter, compared to the consensus estimate of $142.41 million. equities analysts forecast that Textainer Group Holdings Limited will post 1.37 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Strs Ohio increased its position in Textainer Group by 9.8% during the second quarter. Strs Ohio now owns 43,900 shares of the transportation company’s stock valued at $698,000 after acquiring an additional 3,900 shares during the last quarter. California Public Employees Retirement System increased its position in Textainer Group by 13.9% during the second quarter. California Public Employees Retirement System now owns 32,241 shares of the transportation company’s stock valued at $513,000 after acquiring an additional 3,941 shares during the last quarter. Northern Trust Corp increased its position in Textainer Group by 2.8% during the second quarter. Northern Trust Corp now owns 204,985 shares of the transportation company’s stock valued at $3,259,000 after acquiring an additional 5,531 shares during the last quarter. Royal Bank of Canada increased its position in Textainer Group by 7.5% during the first quarter. Royal Bank of Canada now owns 95,079 shares of the transportation company’s stock valued at $1,611,000 after acquiring an additional 6,661 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Textainer Group by 131.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,009 shares of the transportation company’s stock valued at $220,000 after acquiring an additional 7,400 shares during the last quarter. Institutional investors and hedge funds own 24.89% of the company’s stock.

About Textainer Group (NYSE:TGH)

Textainer Group Holdings Ltd. engages in the purchase, management, leasing, and resale of a fleet of marine cargo containers, through its. It operates through the following business segments: Container Ownership, Container Management, and Container Resale. The Container Ownership segment consists primarily of standard dry freight containers and also includes special-purpose containers.

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