Zacks Investment Research Downgrades CAI International, Inc. (CAI) to Hold
CAI International, Inc. (NYSE:CAI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “CAI INTERNATIONAL, INC. is one of the world’s leading intermodal freight container leasing and management companies. Intermodal freight containers are large, standardized steel boxes, which CAI leases primarily to international steamship companies, and are used to transport cargo by a number of means, including ship, truck and rail. A portion of the container fleet is owned by CAI with the balance being owned by third parties on whose behalf CAI manages the containers. Accordingly, CAI operates its business through two segments: container leasing and container fleet management. Through its international network of offices and agents CAI also has developed an active after-market program for containers retired from the international shipping fleet. “
A number of other research analysts also recently commented on the stock. Cowen and Company lifted their price objective on shares of CAI International from $23.00 to $28.00 and gave the company a “market perform” rating in a research report on Thursday, July 27th. TheStreet raised shares of CAI International from a “d+” rating to a “c” rating in a report on Wednesday, July 26th. ValuEngine upgraded shares of CAI International from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.00 target price on shares of CAI International in a research note on Friday, July 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. CAI International has a consensus rating of “Hold” and a consensus target price of $24.75.
Shares of CAI International (NYSE:CAI) traded up 0.10% on Tuesday, reaching $30.76. 142,807 shares of the company traded hands. The stock has a 50 day moving average of $29.28 and a 200 day moving average of $23.09. CAI International has a 52-week low of $6.75 and a 52-week high of $31.61. The stock has a market cap of $589.67 million, a price-to-earnings ratio of 44.91 and a beta of 2.19.
CAI International (NYSE:CAI) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.09. The firm had revenue of $82.69 million for the quarter, compared to analyst estimates of $85.18 million. CAI International had a net margin of 4.14% and a return on equity of 4.13%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. On average, analysts expect that CAI International will post $2.32 earnings per share for the current 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 stock was sold at an average price of $26.60, for a total value of $18,458,458.20. Following the sale, the director now owns 712,433 shares in the company, valued at approximately $18,950,717.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 24.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC grew its stake in CAI International by 3.2% in the 2nd quarter. Citadel Advisors LLC now owns 11,245 shares of the transportation company’s stock valued at $265,000 after buying an additional 347 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of CAI International by 2.0% during the fourth quarter. Teachers Advisors LLC now owns 26,438 shares of the transportation company’s stock worth $229,000 after acquiring an additional 520 shares during the period. American International Group Inc. boosted its holdings in shares of CAI International by 7.1% during the first quarter. American International Group Inc. now owns 9,650 shares of the transportation company’s stock worth $152,000 after acquiring an additional 637 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of CAI International by 18.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,425 shares of the transportation company’s stock worth $211,000 after acquiring an additional 2,130 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of CAI International by 1.0% during the first quarter. Prudential Financial Inc. now owns 271,446 shares of the transportation company’s stock worth $4,273,000 after acquiring an additional 2,600 shares during the period. 58.10% of the stock is owned by institutional investors and hedge funds.
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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