CAI International (NYSE:CAI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of CAI International (NYSE:CAI) from a buy rating to a hold rating in a research note published on Monday, March 19th.

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. “

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CAI has been the topic of a number of other reports. ValuEngine upgraded CAI International from a buy rating to a strong-buy rating in a research note on Friday, February 2nd. Cowen cut their price objective on shares of CAI International from $46.00 to $40.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. Wells Fargo upgraded shares of CAI International from a market perform rating to an outperform rating and set a $35.00 price objective on the stock in a research note on Wednesday, February 14th. Finally, William Blair restated an outperform rating on shares of CAI International in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. CAI International presently has an average rating of Buy and an average target price of $33.20.

NYSE:CAI traded up $0.84 during trading hours on Monday, hitting $21.40. The stock had a trading volume of 260,544 shares, compared to its average volume of 338,129. CAI International has a 1-year low of $14.43 and a 1-year high of $40.11. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 2.79. The company has a market capitalization of $431.33, a price-to-earnings ratio of 7.46, a price-to-earnings-growth ratio of 0.68 and a beta of 2.23.

CAI International (NYSE:CAI) last released its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.17. CAI International had a net margin of 20.68% and a return on equity of 11.21%. The business had revenue of $94.03 million during the quarter, compared to the consensus estimate of $95.66 million. During the same quarter last year, the company earned ($0.09) earnings per share. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. equities analysts anticipate that CAI International will post 3.89 earnings per share for the current year.

In other CAI International news, major shareholder Ogawa Family Trust sold 1,250,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $21.58, for a total transaction of $26,975,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 24.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in CAI. Macquarie Group Ltd. bought a new position in CAI International in the 3rd quarter worth approximately $770,000. Royce & Associates LP increased its position in shares of CAI International by 12.6% during the fourth quarter. Royce & Associates LP now owns 371,662 shares of the transportation company’s stock valued at $10,525,000 after purchasing an additional 41,500 shares during the period. GSA Capital Partners LLP bought a new stake in shares of CAI International during the third quarter valued at approximately $760,000. Dimensional Fund Advisors LP increased its position in shares of CAI International by 15.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,627,880 shares of the transportation company’s stock valued at $49,358,000 after purchasing an additional 220,782 shares during the period. Finally, Convergence Investment Partners LLC bought a new stake in shares of CAI International during the third quarter valued at approximately $1,371,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

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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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