CAI International (CAI) Rating Lowered to Hold at Zacks Investment Research

CAI International (NYSE:CAI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, December 26th.

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. “

Several other equities research analysts also recently commented on the stock. ValuEngine downgraded shares of CAI International from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Cowen upgraded shares of CAI International from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $34.00 to $46.00 in a research note on Monday, October 23rd. William Blair reiterated an “outperform” rating on shares of CAI International in a research note on Friday, October 20th. Wells Fargo & Co boosted their target price on shares of CAI International from $26.00 to $32.00 and gave the company a “market perform” rating in a research report on Friday, October 20th. Finally, SunTrust Banks restated a “buy” rating and set a $40.00 target price on shares of CAI International in a research report on Friday, October 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $35.80.

CAI International (NYSE CAI) opened at $30.34 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.91. CAI International has a 1-year low of $10.78 and a 1-year high of $40.11. The stock has a market cap of $584.59, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.02 and a beta of 2.26.

CAI International (NYSE:CAI) last released its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.20. CAI International had a net margin of 10.93% and a return on equity of 7.11%. The business had revenue of $90.16 million for the quarter, compared to analyst estimates of $89.43 million. During the same period in the previous year, the company earned $0.16 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. sell-side analysts anticipate that CAI International will post 2.64 EPS for the current fiscal year.

In other CAI International news, Director David G. Remington sold 11,724 shares of CAI International stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $37.50, for a total value of $439,650.00. Following the completion of the transaction, the director now owns 13,041 shares of the company’s stock, valued at $489,037.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David G. Remington sold 11,600 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $32.63, for a total transaction of $378,508.00. Following the sale, the director now directly owns 4,581 shares of the company’s stock, valued at approximately $149,478.03. The disclosure for this sale can be found here. Insiders have sold 123,111 shares of company stock valued at $4,403,869 over the last 90 days. 24.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CAI. ClariVest Asset Management LLC grew its stake in CAI International by 2,235.5% during the 3rd quarter. ClariVest Asset Management LLC now owns 414,551 shares of the transportation company’s stock valued at $12,568,000 after acquiring an additional 396,801 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in CAI International during the 3rd quarter valued at about $11,979,000. Dimensional Fund Advisors LP grew its stake in CAI International by 15.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,627,880 shares of the transportation company’s stock valued at $49,358,000 after acquiring an additional 220,782 shares in the last quarter. Nordea Investment Management AB purchased a new stake in CAI International during the 3rd quarter valued at about $5,718,000. Finally, Allianz Asset Management GmbH purchased a new stake in CAI International during the 3rd quarter valued at about $2,114,000. 69.10% of the stock is owned by institutional investors.

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CAI International Company Profile

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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