Zacks Investment Research cut shares of Textainer Group Holdings Limited (NYSE:TGH) from a hold rating to a sell rating in a research note released 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. “

Several other analysts also recently weighed in on TGH. Cowen and Company reiterated a buy rating and issued a $21.00 target price on shares of Textainer Group Holdings Limited in a report on Tuesday, July 11th. Keefe, Bruyette & Woods reiterated a hold rating on shares of Textainer Group Holdings Limited in a report on Monday, May 15th. Finally, ValuEngine upgraded shares of Textainer Group Holdings Limited from a sell rating to a hold rating in a report on Saturday, June 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Textainer Group Holdings Limited has a consensus rating of Hold and a consensus price target of $18.67.

Shares of Textainer Group Holdings Limited (NYSE:TGH) opened at 16.35 on Tuesday. The company has a 50 day moving average price of $14.20 and a 200-day moving average price of $13.72. The stock’s market cap is $928.58 million. Textainer Group Holdings Limited has a one year low of $6.90 and a one year high of $17.60.

Textainer Group Holdings Limited (NYSE:TGH) last posted its earnings results on Thursday, May 4th. The transportation company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. Textainer Group Holdings Limited had a negative net margin of 11.27% and a negative return on equity of 6.01%. The company had revenue of $116.87 million during the quarter, compared to analyst estimates of $115.15 million. During the same quarter last year, the business posted $0.11 EPS. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities analysts predict that Textainer Group Holdings Limited will post $0.02 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of TGH. Russell Investments Group Ltd. acquired a new position in shares of Textainer Group Holdings Limited during the fourth quarter valued at approximately $516,000. State Street Corp boosted its position in shares of Textainer Group Holdings Limited by 17.2% in the fourth quarter. State Street Corp now owns 406,172 shares of the transportation company’s stock valued at $3,026,000 after buying an additional 59,500 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Textainer Group Holdings Limited by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 748,540 shares of the transportation company’s stock valued at $5,577,000 after buying an additional 46,913 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Textainer Group Holdings Limited by 83.4% in the fourth quarter. Renaissance Technologies LLC now owns 220,100 shares of the transportation company’s stock valued at $1,640,000 after buying an additional 100,100 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Textainer Group Holdings Limited during the fourth quarter valued at approximately $213,000. 21.60% of the stock is owned by institutional investors.

About Textainer Group Holdings Limited

Textainer Group Holdings Limited 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 owns containers; Container Management, which manages containers on behalf of affiliated and unaffiliated container investors, and provides acquisition, management and disposal services, and total managed containers, 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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