Wells Fargo & Co set a $24.00 price target on CAI International (NYSE:CAI) in a report released on Wednesday. The firm currently has a hold rating on the transportation company’s stock.
A number of other analysts also recently issued reports on CAI. Zacks Investment Research downgraded shares of CAI International from a hold rating to a sell rating in a report on Thursday, July 26th. ValuEngine upgraded shares of CAI International from a strong sell rating to a sell rating in a report on Thursday, August 2nd. Finally, Cowen cut their price target on shares of CAI International from $40.00 to $30.00 and set an outperform rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $29.25.
CAI stock opened at $25.03 on Wednesday. The stock has a market capitalization of $480.92 million, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 0.84 and a beta of 2.24. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.48 and a quick ratio of 0.48. CAI International has a 12 month low of $19.35 and a 12 month high of $36.98.
CAI International (NYSE:CAI) last announced its quarterly earnings results on Tuesday, October 30th. The transportation company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.06. The business had revenue of $115.40 million during the quarter, compared to the consensus estimate of $112.40 million. CAI International had a net margin of 22.90% and a return on equity of 13.08%. The business’s revenue was up 27.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS. On average, sell-side analysts expect that CAI International will post 3.8 earnings per share for the current year.
CAI International announced that its Board of Directors has initiated a share buyback program on Monday, October 8th that permits the company to buyback 3,000,000 shares. This buyback authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in CAI. Sun Life Financial INC acquired a new stake in shares of CAI International during the 2nd quarter worth approximately $173,000. Monarch Partners Asset Management LLC acquired a new stake in shares of CAI International during the 3rd quarter worth approximately $282,000. Alps Advisors Inc. acquired a new stake in shares of CAI International during the 3rd quarter worth approximately $414,000. Rhumbline Advisers increased its holdings in shares of CAI International by 13.0% during the 2nd quarter. Rhumbline Advisers now owns 23,756 shares of the transportation company’s stock worth $552,000 after buying an additional 2,728 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of CAI International by 10.4% during the 1st quarter. Royal Bank of Canada now owns 30,369 shares of the transportation company’s stock worth $645,000 after buying an additional 2,855 shares during the last quarter. Institutional investors and hedge funds own 87.73% of the company’s stock.
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.
Further Reading: Why do companies engage in swaps?
Receive News & Ratings for CAI International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CAI International and related companies with MarketBeat.com's FREE daily email newsletter.