Textainer Group Holdings Limited (NYSE:TGH) Short Interest Up 19.2% in August

Textainer Group Holdings Limited (NYSE:TGH) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 964,200 shares, a growth of 19.2% from the July 31st total of 809,100 shares. Approximately 4.6% of the company’s shares are short sold. Based on an average daily volume of 141,300 shares, the short-interest ratio is currently 6.8 days.

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Textainer Group by 11.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,416,208 shares of the transportation company’s stock valued at $14,105,000 after purchasing an additional 145,244 shares in the last quarter. BlackRock Inc. boosted its position in Textainer Group by 2.0% during the 2nd quarter. BlackRock Inc. now owns 1,362,394 shares of the transportation company’s stock valued at $13,734,000 after buying an additional 26,292 shares during the period. Grace & White Inc. NY boosted its position in Textainer Group by 1.4% during the 2nd quarter. Grace & White Inc. NY now owns 366,097 shares of the transportation company’s stock valued at $3,691,000 after buying an additional 4,997 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Textainer Group by 6.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 305,066 shares of the transportation company’s stock valued at $3,076,000 after buying an additional 18,274 shares during the period. Finally, Northern Trust Corp boosted its position in Textainer Group by 36.7% during the 2nd quarter. Northern Trust Corp now owns 297,415 shares of the transportation company’s stock valued at $2,998,000 after buying an additional 79,790 shares during the period. 23.08% of the stock is owned by institutional investors.

Shares of Textainer Group stock traded up $0.15 during trading on Friday, reaching $10.92. The company’s stock had a trading volume of 254,584 shares, compared to its average volume of 146,181. Textainer Group has a 52-week low of $6.40 and a 52-week high of $14.17. The company has a market cap of $596.41 million, a price-to-earnings ratio of 12.13 and a beta of 2.28. The firm’s 50-day moving average is $8.46 and its two-hundred day moving average is $9.66. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.63.

Textainer Group (NYSE:TGH) last announced its quarterly earnings data on Tuesday, August 6th. The transportation company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.16). Textainer Group had a net margin of 5.11% and a return on equity of 5.24%. The business had revenue of $155.11 million during the quarter, compared to analysts’ expectations of $159.60 million. During the same period last year, the company posted $0.31 EPS. Textainer Group’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Textainer Group will post 1.33 EPS for the current year.

A number of equities research analysts have recently issued reports on TGH shares. Cowen set a $13.00 price objective on shares of Textainer Group and gave the company a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research cut shares of Textainer Group from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Compass Point set a $12.00 price objective on shares of Textainer Group and gave the company a “hold” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.75.

About Textainer Group

Textainer Group Holdings Limited, through its subsidiaries, engages in the purchase, ownership, management, leasing, and disposal of a fleet of intermodal containers worldwide. It operates through three segments: Container Ownership, Container Management, and Container Resale. The company owns and leases standard dry freight containers, refrigerated, and other special-purpose containers.

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