CAI International (NYSE:CAI) had its price objective lowered by research analysts at Cowen from $40.00 to $30.00 in a report issued on Wednesday, MarketBeat reports. The firm presently has an “outperform” rating on the transportation company’s stock. Cowen’s target price would indicate a potential upside of 19.52% from the stock’s previous close.
Several other brokerages have also commented on CAI. ValuEngine upgraded CAI International from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 2nd. Wells Fargo & Co lowered CAI International from an “outperform” rating to a “market perform” rating and set a $22.00 target price for the company. in a research report on Friday, September 28th. Zacks Investment Research raised CAI International from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Keefe, Bruyette & Woods raised CAI International from a “market perform” rating to an “outperform” rating in a report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. CAI International has a consensus rating of “Hold” and an average price target of $29.25.
Shares of CAI opened at $25.10 on Wednesday. The company has a market capitalization of $395.39 million, a PE ratio of 8.75, a PEG ratio of 0.69 and a beta of 2.56. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.93. CAI International has a 52 week low of $19.35 and a 52 week high of $36.98.
CAI International (NYSE:CAI) last issued its earnings results on Tuesday, October 30th. The transportation company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.97 by $0.06. The company had revenue of $115.40 million during the quarter, compared to analyst estimates of $112.40 million. CAI International had a return on equity of 13.08% and a net margin of 22.90%. The business’s revenue was up 27.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. Equities analysts expect that CAI International will post 3.72 earnings per share for the current year.
CAI International announced that its Board of Directors has initiated a stock repurchase program on Monday, October 8th that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of CAI International by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,729,498 shares of the transportation company’s stock worth $36,769,000 after purchasing an additional 92,852 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of CAI International by 11.0% in the 2nd quarter. BlackRock Inc. now owns 1,177,477 shares of the transportation company’s stock worth $27,365,000 after purchasing an additional 116,607 shares during the last quarter. Scopus Asset Management L.P. bought a new stake in shares of CAI International in the 2nd quarter worth approximately $14,447,000. Royce & Associates LP lifted its holdings in shares of CAI International by 10.7% in the 2nd quarter. Royce & Associates LP now owns 563,408 shares of the transportation company’s stock worth $13,094,000 after purchasing an additional 54,601 shares during the last quarter. Finally, Aristotle Capital Boston LLC lifted its holdings in shares of CAI International by 1.3% in the 2nd quarter. Aristotle Capital Boston LLC now owns 424,181 shares of the transportation company’s stock worth $9,858,000 after purchasing an additional 5,547 shares during the last quarter. 87.73% of the stock is currently owned by institutional investors and hedge funds.
CAI International Company Profile
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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