Zacks Investment Research cut shares of CAI International (NYSE:CAI) from a buy rating to a hold rating in a research note released on Tuesday morning.
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. “
Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of CAI International from a strong-buy rating to a buy rating in a report on Friday, December 1st. SunTrust Banks reiterated a buy rating and issued a $40.00 price objective on shares of CAI International in a research note on Friday, October 20th. Cowen reiterated a hold rating and issued a $34.00 price objective on shares of CAI International in a research note on Thursday, October 19th. Wells Fargo & Co increased their price objective on shares of CAI International from $26.00 to $32.00 and gave the stock a market perform rating in a research note on Friday, October 20th. Finally, William Blair reiterated an outperform rating on shares of CAI International in a research note on Friday, October 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $35.80.
CAI International (NYSE:CAI) last posted its quarterly earnings results on Thursday, October 19th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.20. The business had revenue of $90.16 million during the quarter, compared to analysts’ expectations of $89.43 million. CAI International had a net margin of 10.93% and a return on equity of 7.11%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company posted $0.16 earnings per share. sell-side analysts expect that CAI International will post 2.64 EPS for the current year.
In related news, VP Camille Cutino sold 23,386 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $37.18, for a total transaction of $869,491.48. Following the sale, the vice president now owns 71,640 shares in the company, valued at $2,663,575.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Victor Garcia sold 41,407 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $36.10, for a total transaction of $1,494,792.70. Following the sale, the insider now owns 68,307 shares in the company, valued at approximately $2,465,882.70. The disclosure for this sale can be found here. Insiders sold 123,111 shares of company stock worth $4,403,869 in the last quarter. Company insiders own 24.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY acquired a new stake in CAI International during the first quarter valued at $184,000. Quotient Investors LLC acquired a new stake in CAI International during the third quarter valued at $224,000. Brandywine Global Investment Management LLC grew its position in CAI International by 41.1% during the second quarter. Brandywine Global Investment Management LLC now owns 10,204 shares of the transportation company’s stock valued at $241,000 after buying an additional 2,974 shares during the period. Alliancebernstein L.P. acquired a new stake in CAI International during the second quarter valued at $248,000. Finally, Voya Investment Management LLC acquired a new stake in CAI International during the second quarter valued at $253,000. Institutional investors own 69.10% of the company’s stock.
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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