GATX (NYSE:GATX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $93.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.04% from the stock’s current price.
According to Zacks, “Shares of GATX have outperformed its industry in a year's time. The company has an impressive earnings history having surpassed estimates in three of the trailing four quarters with an average beat of 29%. Moreover improved market conditions have led the company to raise its outlook for 2018 earnings per share. We are also impressed by the company’s efforts to reward its shareholders through share buybacks and dividend payments. Efforts to modernize its fleet are also encouraging. The Zacks Consensus Estimate for current-quarter earnings has increased 2.9% over the last 60 days. This reflects investors' optimism surrounding the stock. We are, however, concerned about the company's high debt levels. “
GATX has been the topic of a number of other reports. Buckingham Research raised their target price on shares of GATX from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. ValuEngine raised shares of GATX from a “hold” rating to a “buy” rating in a research note on Friday, June 29th. Mizuho reissued a “buy” rating on shares of GATX in a research note on Friday, August 31st. Finally, Stifel Nicolaus set a $78.00 target price on shares of GATX and gave the stock a “hold” rating in a research note on Thursday, July 19th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $81.17.
GATX traded up $0.30 during trading on Thursday, reaching $83.75. The company’s stock had a trading volume of 115 shares, compared to its average volume of 178,633. The company has a debt-to-equity ratio of 2.43, a current ratio of 2.77 and a quick ratio of 2.77. GATX has a 1 year low of $56.00 and a 1 year high of $91.12. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.39.
GATX (NYSE:GATX) last released its earnings results on Thursday, July 19th. The transportation company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.24. GATX had a net margin of 37.03% and a return on equity of 11.34%. The business had revenue of $349.50 million for the quarter, compared to analyst estimates of $340.50 million. During the same period last year, the company posted $1.32 EPS. The business’s revenue was up .3% on a year-over-year basis. equities analysts anticipate that GATX will post 5.06 earnings per share for the current fiscal year.
In related news, VP William M. Muckian sold 3,930 shares of GATX stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $84.94, for a total value of $333,814.20. Following the completion of the sale, the vice president now owns 14,560 shares in the company, valued at approximately $1,236,726.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian A. Kenney sold 20,743 shares of GATX stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $85.94, for a total transaction of $1,782,653.42. Following the completion of the sale, the chief executive officer now owns 238,111 shares of the company’s stock, valued at approximately $20,463,259.34. The disclosure for this sale can be found here. Insiders have sold a total of 40,799 shares of company stock valued at $3,473,517 in the last 90 days. Insiders own 3.63% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of GATX by 1.4% during the 2nd quarter. BlackRock Inc. now owns 4,280,856 shares of the transportation company’s stock worth $317,768,000 after purchasing an additional 58,854 shares during the last quarter. Earnest Partners LLC lifted its position in shares of GATX by 1.0% during the 1st quarter. Earnest Partners LLC now owns 1,659,467 shares of the transportation company’s stock worth $113,657,000 after purchasing an additional 16,580 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of GATX by 20.6% during the 2nd quarter. Janus Henderson Group PLC now owns 849,712 shares of the transportation company’s stock worth $63,074,000 after purchasing an additional 145,019 shares during the last quarter. LSV Asset Management lifted its position in shares of GATX by 1.3% during the 1st quarter. LSV Asset Management now owns 599,581 shares of the transportation company’s stock worth $41,065,000 after purchasing an additional 7,472 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of GATX by 3.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 347,731 shares of the transportation company’s stock worth $23,817,000 after purchasing an additional 12,094 shares during the last quarter.
GATX Company Profile
GATX Corporation leases, operates, manages, and remarkets assets in the rail and marine markets in North America and internationally. The company operates through four segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management. The Rail North America segment primarily leases railcars and locomotives.
Further Reading: Understanding Price to Earnings Ratio (PE)
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