William Blair Reiterates “Outperform” Rating for CAI International, Inc. (CAI)
CAI International, Inc. (NYSE:CAI)‘s stock had its “outperform” rating restated by stock analysts at William Blair in a research report issued to clients and investors on Friday. William Blair also issued estimates for CAI International’s Q4 2017 earnings at $0.85 EPS, Q3 2018 earnings at $0.90 EPS, Q4 2018 earnings at $0.93 EPS and FY2018 earnings at $3.50 EPS.
Several other research analysts have also issued reports on CAI. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.00 price target on shares of CAI International in a report on Friday, July 14th. Cowen and Company increased their price target on CAI International from $23.00 to $28.00 and gave the stock a “market perform” rating in a report on Thursday, July 27th. TheStreet upgraded CAI International from a “d+” rating to a “c” rating in a report on Wednesday, July 26th. ValuEngine upgraded CAI International from a “hold” rating to a “buy” rating in a report on Friday, July 28th. Finally, Zacks Investment Research lowered CAI International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.40.
Shares of CAI International (NYSE:CAI) opened at 37.26 on Friday. The company has a 50-day moving average price of $30.13 and a 200-day moving average price of $24.60. CAI International has a 12 month low of $6.75 and a 12 month high of $37.37. The firm has a market cap of $714.27 million, a price-to-earnings ratio of 54.39 and a beta of 2.19.
CAI International (NYSE:CAI) last announced its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.20. The business had revenue of $90.16 million for the quarter, compared to analyst estimates of $89.43 million. CAI International had a return on equity of 7.23% and a net margin of 10.93%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. Analysts forecast that CAI International will post $2.32 earnings per share for the current fiscal year.
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In other news, Director Hiromitsu Ogawa sold 693,927 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 712,433 shares of the company’s stock, valued at $18,950,717.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 24.50% of the company’s stock.
Several institutional investors have recently modified their holdings of CAI. Teachers Advisors LLC raised its stake in shares of CAI International by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 26,438 shares of the transportation company’s stock worth $229,000 after purchasing an additional 520 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of CAI International in the first quarter worth approximately $288,000. Wells Fargo & Company MN raised its stake in shares of CAI International by 451.7% in the first quarter. Wells Fargo & Company MN now owns 51,880 shares of the transportation company’s stock worth $816,000 after purchasing an additional 42,476 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of CAI International by 18.9% in 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 purchasing an additional 2,130 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of CAI International by 291.4% in the first quarter. Ameriprise Financial Inc. now owns 278,902 shares of the transportation company’s stock worth $4,389,000 after purchasing an additional 207,639 shares during the last quarter. 58.10% of the stock is owned by hedge funds and other institutional investors.
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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