GATX (GATX) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of GATX (NYSE:GATX) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $69.00 price objective on the transportation company’s stock.

According to Zacks, “GATX Corporation has an impressive track record with respect to earnings per share, having surpassed the Zacks Consensus Estimate in each of the past four quarters. Additionally, GATX’s efforts to reward investors through share buybacks and dividend payments are impressive. The company has been paying regular dividends since 1919. However, high costs are limiting bottom-line growth. The weak railcar leasing market is concerning as well. Markedly, GATX’s tepid outlook for 2017 reflects the tough market conditions. In fact, shares of GATX Corporation have underperformed the industry it belongs to, on a year-to-date basis, due to the headwinds.”

GATX has been the topic of several other reports. BidaskClub lowered GATX from a hold rating to a sell rating in a research report on Saturday, September 9th. Buckingham Research reduced their price target on GATX from $64.00 to $61.00 and set a neutral rating on the stock in a research report on Friday, October 20th. ValuEngine lowered GATX from a strong-buy rating to a buy rating in a research report on Monday, November 6th. Finally, Stifel Nicolaus restated a hold rating and issued a $56.00 price target on shares of GATX in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $57.83.

GATX (GATX) opened at $62.23 on Wednesday. GATX has a 12-month low of $55.44 and a 12-month high of $66.30. The company has a debt-to-equity ratio of 2.92, a current ratio of 3.13 and a quick ratio of 3.13. The stock has a market capitalization of $2,380.00, a price-to-earnings ratio of 12.91, a PEG ratio of 0.87 and a beta of 1.20.

GATX (NYSE:GATX) last posted its quarterly earnings results on Thursday, October 19th. The transportation company reported $1.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.26. GATX had a return on equity of 14.51% and a net margin of 13.76%. The business had revenue of $259.60 million for the quarter, compared to analyst estimates of $350.04 million. During the same period last year, the company earned $1.50 EPS. The firm’s revenue was down 28.5% on a year-over-year basis. research analysts anticipate that GATX will post 4.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 31st. Shareholders of record on Friday, December 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.68 annualized dividend and a yield of 2.70%. GATX’s dividend payout ratio is presently 34.85%.

Hedge funds have recently bought and sold shares of the business. State Street Corp lifted its holdings in GATX by 4.5% during the second quarter. State Street Corp now owns 1,392,167 shares of the transportation company’s stock worth $89,470,000 after acquiring an additional 59,729 shares in the last quarter. Arizona State Retirement System lifted its holdings in GATX by 0.6% during the second quarter. Arizona State Retirement System now owns 16,500 shares of the transportation company’s stock worth $1,060,000 after acquiring an additional 100 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in GATX by 117.4% during the second quarter. BNP Paribas Arbitrage SA now owns 21,685 shares of the transportation company’s stock worth $1,394,000 after acquiring an additional 11,710 shares in the last quarter. Vanguard Group Inc. lifted its holdings in GATX by 0.5% during the second quarter. Vanguard Group Inc. now owns 4,928,720 shares of the transportation company’s stock worth $316,768,000 after acquiring an additional 22,954 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in GATX by 6.8% during the second quarter. Legal & General Group Plc now owns 49,991 shares of the transportation company’s stock worth $3,213,000 after acquiring an additional 3,198 shares in the last quarter.

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GATX Company Profile

GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management.

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