Zacks Investment Research downgraded shares of Textainer Group Holdings Limited (NYSE:TGH) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

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 have also issued reports on TGH. SunTrust Banks, Inc. lifted their price target on shares of Textainer Group Holdings Limited from $9.50 to $16.00 and gave the stock a buy rating in a research note on Wednesday, January 25th. Cowen and Company upgraded shares of Textainer Group Holdings Limited from a market perform rating to an outperform rating and set a $15.00 price target for the company in a research note on Monday, January 23rd.

Textainer Group Holdings Limited (NYSE:TGH) traded down 0.33% on Friday, hitting $15.00. 68,576 shares of the company were exchanged. Textainer Group Holdings Limited has a 52-week low of $6.90 and a 52-week high of $17.60. The stock’s market cap is $851.81 million. The firm has a 50 day moving average of $15.03 and a 200-day moving average of $10.23.

Textainer Group Holdings Limited (NYSE:TGH) last announced its quarterly earnings results on Thursday, February 16th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.03. The business had revenue of $120.10 million for the quarter, compared to analyst estimates of $118.03 million. Textainer Group Holdings Limited had a negative net margin of 5.79% and a negative return on equity of 2.45%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. On average, equities analysts expect that Textainer Group Holdings Limited will post $0.29 earnings per share for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in TGH. Grace & White Inc. NY increased its position in shares of Textainer Group Holdings Limited by 12.3% in the third quarter. Grace & White Inc. NY now owns 530,941 shares of the company’s stock valued at $3,977,000 after buying an additional 58,255 shares during the period. Prudential Financial Inc. increased its position in shares of Textainer Group Holdings Limited by 5.9% in the third quarter. Prudential Financial Inc. now owns 111,620 shares of the company’s stock valued at $836,000 after buying an additional 6,190 shares during the period. Analytic Investors LLC purchased a new position in shares of Textainer Group Holdings Limited during the third quarter valued at about $603,000. WFG Advisors LP increased its position in shares of Textainer Group Holdings Limited by 21,605.4% in the fourth quarter. WFG Advisors LP now owns 116,124 shares of the company’s stock valued at $1,609,000 after buying an additional 115,589 shares during the period. Finally, Pacific Ridge Capital Partners LLC increased its position in shares of Textainer Group Holdings Limited by 58.3% in the third quarter. Pacific Ridge Capital Partners LLC now owns 78,500 shares of the company’s stock valued at $588,000 after buying an additional 28,900 shares during the period. Hedge funds and other institutional investors own 17.42% of the company’s stock.

About Textainer Group Holdings Limited

Textainer Group Holdings Limited (TGH) is a holding company. The Company is involved in the purchase, ownership, management, leasing and disposal of a fleet of intermodal containers. The Company operates in three segments: Container Ownership, which owned containers accounting for approximately 80% of the Company’s fleet; Container Management, which managed containers on behalf of approximately 10 affiliated and unaffiliated container investors, providing acquisition, management and disposal services, and total managed containers accounted for approximately 20% of its fleet, and Container Resale, which sells containers from its fleet when they reach the end of their useful lives in marine service, and also purchases and leases or resells containers from shipping line customers, container traders and other sellers of containers.

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