Cowen and Company Reaffirms Hold Rating for CAI International, Inc. (CAI)
Cowen and Company reiterated their hold rating on shares of CAI International, Inc. (NYSE:CAI) in a research report sent to investors on Wednesday. Cowen and Company currently has a $28.00 price target on the transportation company’s stock.
A number of other equities research analysts also recently commented on CAI. Zacks Investment Research downgraded shares of CAI International from a strong-buy rating to a hold rating in a research report on Tuesday, October 3rd. TheStreet raised shares of CAI International from a d+ rating to a c rating in a research report on Wednesday, July 26th. ValuEngine raised shares of CAI International from a hold rating to a buy rating in a research report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $26.00 target price on shares of CAI International in a research report on Friday, July 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $26.00.
Shares of CAI International (CAI) opened at 30.65 on Wednesday. CAI International has a 52 week low of $6.75 and a 52 week high of $31.61. The firm has a market capitalization of $587.56 million, a P/E ratio of 44.74 and a beta of 2.19. The firm has a 50-day moving average of $29.52 and a 200 day moving average of $23.42.
CAI International (NYSE:CAI) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.09. CAI International had a net margin of 4.14% and a return on equity of 4.13%. The company had revenue of $82.69 million for the quarter, compared to the consensus estimate of $85.18 million. During the same period in the prior year, the firm posted $0.19 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities research analysts expect that CAI International will post $2.32 EPS for the current fiscal year.
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In related news, Director Hiromitsu Ogawa sold 693,927 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $26.60, for a total transaction of $18,458,458.20. Following the completion of the sale, the director now owns 712,433 shares in the company, valued at approximately $18,950,717.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 24.50% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CAI International in the 2nd quarter worth $698,000. 361 Capital LLC acquired a new stake in shares of CAI International in the 2nd quarter worth $413,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of CAI International in the 2nd quarter worth $540,000. State Street Corp lifted its stake in shares of CAI International by 9.4% in the 2nd quarter. State Street Corp now owns 305,182 shares of the transportation company’s stock worth $7,203,000 after acquiring an additional 26,142 shares during the period. Finally, Stifel Financial Corp acquired a new stake in shares of CAI International in the 2nd quarter worth $281,000. Hedge funds and other institutional investors own 58.10% of the company’s stock.
About CAI International
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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