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

Zacks Investment Research downgraded shares of CAI International (NYSE:CAI) from a buy rating to a hold rating in a research note released on Monday, March 19th.

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. “

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CAI has been the subject of several other reports. Wells Fargo raised shares of CAI International from a market perform rating to an outperform rating and set a $35.00 target price for the company in a report on Wednesday, February 14th. ValuEngine raised shares of CAI International from a buy rating to a strong-buy rating in a report on Friday, February 2nd. Cowen cut their price objective on shares of CAI International from $46.00 to $40.00 and set an outperform rating for the company in a report on Thursday, February 15th. Finally, William Blair reiterated an outperform rating on shares of CAI International in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $33.20.

CAI opened at $21.05 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 2.79. The stock has a market cap of $417.60, a price-to-earnings ratio of 7.15, a P/E/G ratio of 0.66 and a beta of 2.23. CAI International has a 52-week low of $14.43 and a 52-week high of $40.11.

CAI International (NYSE:CAI) last released its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.17. CAI International had a net margin of 20.68% and a return on equity of 11.21%. The firm had revenue of $94.03 million during the quarter, compared to analyst estimates of $95.66 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. analysts expect that CAI International will post 3.89 EPS for the current year.

In other CAI International news, major shareholder Ogawa Family Trust sold 1,250,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $21.58, for a total value of $26,975,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 24.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC purchased a new position in shares of CAI International during the fourth quarter valued at $230,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of CAI International during the fourth quarter valued at $330,000. Millennium Management LLC grew its stake in CAI International by 243.6% in the fourth quarter. Millennium Management LLC now owns 457,148 shares of the transportation company’s stock valued at $12,946,000 after purchasing an additional 324,092 shares during the last quarter. Two Sigma Investments LP grew its stake in CAI International by 22.8% in the fourth quarter. Two Sigma Investments LP now owns 225,371 shares of the transportation company’s stock valued at $6,383,000 after purchasing an additional 41,836 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in CAI International by 47.7% in the fourth quarter. Two Sigma Advisers LP now owns 222,747 shares of the transportation company’s stock valued at $6,308,000 after purchasing an additional 71,938 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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About CAI International

CAI International, Inc operates as transportation finance and logistics company in the United States and internationally. The company operates through three segments: Container Leasing, Rail Leasing, and Logistics. It leases, re-leases, and disposes equipment; and contracts for the repair, repositioning, and storage of equipment.

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