Textainer Group (TGH) Rating Lowered to Hold at Zacks Investment Research

Textainer Group (NYSE:TGH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “TEXTAINER GROUP is the worlds largest lessor of intermodal containers with a total fleet of more than 1.3 million containers, representing over 2,000,000 TEU. They lease containers to more than 400 shipping lines and other lessees, including each of the world’s top 20 container lines. Yhey are also the primary supplier of leased containers to the U.S. Military. Their goal is to be the most reliable lessor of containers in locations where their customers need them. They have provided an average of more than 100,000 TEU of new containers per year for the past 10 years, and have been one of the largest purchasers of new containers among container lessors over the same period. They are also one of the largest sellers of used containers , having sold an average of more than 53,000 containers per year for the last five years. “

A number of other brokerages also recently commented on TGH. ValuEngine raised Textainer Group from a “strong sell” rating to a “sell” rating in a report on Friday, January 4th. Cowen restated an “outperform” rating and issued a $20.00 target price (down from $22.00) on shares of Textainer Group in a research report on Monday, November 5th. Finally, TheStreet cut Textainer Group from a “c” rating to a “d+” rating in a research report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $15.75.

Shares of NYSE:TGH traded up $0.13 on Tuesday, hitting $12.98. The company had a trading volume of 15,238 shares, compared to its average volume of 111,491. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.39. Textainer Group has a 52-week low of $9.10 and a 52-week high of $19.65. The company has a market capitalization of $739.41 million, a P/E ratio of 31.51 and a beta of 2.48.

Institutional investors have recently bought and sold shares of the company. Waratah Capital Advisors Ltd. acquired a new stake in Textainer Group during the third quarter valued at approximately $178,000. Bank of America Corp DE boosted its holdings in shares of Textainer Group by 82.0% in the 4th quarter. Bank of America Corp DE now owns 21,773 shares of the transportation company’s stock worth $217,000 after acquiring an additional 9,807 shares in the last quarter. Camelot Portfolios LLC acquired a new position in shares of Textainer Group in the 4th quarter worth approximately $239,000. Rhumbline Advisers raised its position in Textainer Group by 42.4% in the 4th quarter. Rhumbline Advisers now owns 39,798 shares of the transportation company’s stock worth $396,000 after purchasing an additional 11,858 shares during the last quarter. Finally, LPL Financial LLC raised its position in Textainer Group by 97.7% in the 4th quarter. LPL Financial LLC now owns 47,562 shares of the transportation company’s stock worth $474,000 after purchasing an additional 23,506 shares during the last quarter. Institutional investors and hedge funds own 24.79% of the company’s stock.

Textainer Group Company Profile

Textainer Group Holdings Limited, through its subsidiaries, engages in the purchase, ownership, management, leasing, and disposal of a fleet of intermodal containers worldwide. It operates through three segments: Container Ownership, Container Management, and Container Resale. The company owns and leases standard dry freight containers, refrigerated, and other special-purpose containers.

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