CAI International (NYSE:CAI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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 equities analysts have also commented on CAI. ValuEngine lowered shares of CAI International from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. William Blair reaffirmed an “outperform” rating on shares of CAI International in a report on Thursday, April 12th. Finally, Compass Point assumed coverage on shares of CAI International in a report on Monday, April 23rd. They set a “buy” rating and a $36.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. CAI International currently has an average rating of “Buy” and a consensus target price of $33.83.
Shares of CAI International traded down $0.07, reaching $22.91, during trading on Tuesday, MarketBeat.com reports. The company had a trading volume of 52,900 shares, compared to its average volume of 279,161. The firm has a market capitalization of $476.29 million, a price-to-earnings ratio of 7.98, a PEG ratio of 0.75 and a beta of 2.25. CAI International has a 12 month low of $19.35 and a 12 month high of $40.11. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.46 and a quick ratio of 0.46.
CAI International (NYSE:CAI) last issued its quarterly earnings results on Thursday, April 26th. The transportation company reported $0.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.83. The firm had revenue of $95.37 million for the quarter, compared to analyst estimates of $95.30 million. CAI International had a net margin of 23.17% and a return on equity of 12.58%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. equities research analysts expect that CAI International will post 3.86 EPS for the current year.
In other news, CEO Victor Garcia purchased 9,921 shares of the business’s stock in a transaction on Friday, May 11th. The shares were acquired at an average price of $25.00 per share, with a total value of $248,025.00. Following the acquisition, the chief executive officer now directly owns 9,921 shares in the company, valued at $248,025. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Andrew Ogawa sold 1,225,214 shares of the firm’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $22.81, for a total transaction of $27,947,131.34. Following the completion of the sale, the director now directly owns 92,854 shares in the company, valued at approximately $2,117,999.74. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 22,000 shares of company stock worth $542,500. 13.80% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its holdings in CAI International by 4.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 65,712 shares of the transportation company’s stock worth $1,861,000 after acquiring an additional 2,808 shares during the last quarter. Royal Bank of Canada grew its holdings in CAI International by 10.4% in the 1st quarter. Royal Bank of Canada now owns 30,369 shares of the transportation company’s stock worth $645,000 after acquiring an additional 2,855 shares during the last quarter. Northern Trust Corp grew its holdings in CAI International by 2.6% in the 1st quarter. Northern Trust Corp now owns 191,128 shares of the transportation company’s stock worth $4,063,000 after acquiring an additional 4,842 shares during the last quarter. ClariVest Asset Management LLC grew its holdings in CAI International by 1.7% in the 1st quarter. ClariVest Asset Management LLC now owns 380,089 shares of the transportation company’s stock worth $8,082,000 after acquiring an additional 6,268 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in CAI International in the 1st quarter worth $165,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.
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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