CAI International (CAI) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of CAI International (NYSE:CAI) from a hold rating to a buy rating in a research note published on Monday morning. The brokerage currently has $25.00 price target on the transportation company’s stock.
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 equities research analysts have also commented on CAI. ValuEngine lowered shares of CAI International from a strong-buy rating to a buy rating in a research note on Thursday, February 15th. Wells Fargo & Co raised shares of CAI International from a market perform rating to an outperform rating and set a $35.00 price objective on the stock in a research note on Wednesday, February 14th. Cowen raised shares of CAI International from a market perform rating to an outperform rating and upped their price objective for the company from $34.00 to $46.00 in a research note on Monday, October 23rd. Finally, William Blair reaffirmed an outperform rating on shares of CAI International in a research note on Tuesday, February 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $33.20.
CAI International (NYSE:CAI) last posted its quarterly earnings data on Wednesday, February 14th. The transportation company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.17. CAI International had a net margin of 20.68% and a return on equity of 11.69%. The company had revenue of $94.03 million for the quarter, compared to analyst estimates of $95.66 million. During the same period in the prior year, the firm posted ($0.09) EPS. The company’s quarterly revenue was up 21.7% on a year-over-year basis. sell-side analysts anticipate that CAI International will post 3.89 earnings per share for the current year.
In related news, Director David G. Remington sold 4,040 shares of the stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $32.68, for a total transaction of $132,027.20. Following the transaction, the director now directly owns 4,581 shares of the company’s stock, valued at $149,707.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David G. Remington sold 11,600 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $32.63, for a total transaction of $378,508.00. Following the transaction, the director now directly owns 4,581 shares in the company, valued at $149,478.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,824 shares of company stock worth $847,218. 24.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MetLife Investment Advisors LLC bought a new position in CAI International during the fourth quarter worth $230,000. Municipal Employees Retirement System of Michigan bought a new position in CAI International during the fourth quarter worth $330,000. Millennium Management LLC boosted its stake in CAI International by 243.6% during the fourth quarter. Millennium Management LLC now owns 457,148 shares of the transportation company’s stock worth $12,946,000 after acquiring an additional 324,092 shares in the last quarter. Two Sigma Investments LP boosted its stake in CAI International by 22.8% during the fourth quarter. Two Sigma Investments LP now owns 225,371 shares of the transportation company’s stock worth $6,383,000 after acquiring an additional 41,836 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in CAI International by 47.7% during the fourth quarter. Two Sigma Advisers LP now owns 222,747 shares of the transportation company’s stock worth $6,308,000 after acquiring an additional 71,938 shares in the last quarter. 70.65% of the stock is currently owned by institutional investors and hedge funds.
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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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