CAI International (NYSE:CAI) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of CAI International (NYSE:CAI) from a buy rating to a hold rating in a research note released on Monday morning, Zacks.com reports.

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 analysts also recently issued research reports about the company. Wells Fargo & Co reaffirmed a sell rating on shares of CAI International in a research note on Monday, October 21st. Cowen downgraded CAI International from an outperform rating to a market perform rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of Hold and a consensus target price of $28.00.

CAI International stock traded up $0.27 during mid-day trading on Monday, hitting $27.70. 1,034 shares of the company’s stock traded hands, compared to its average volume of 73,229. The firm has a 50 day moving average price of $28.31 and a 200 day moving average price of $23.87. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 3.13. The company has a market cap of $482.35 million, a PE ratio of 15.80 and a beta of 1.77. CAI International has a one year low of $17.87 and a one year high of $29.57.

CAI International (NYSE:CAI) last announced its earnings results on Tuesday, October 29th. The transportation company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $0.72 by ($1.12). The business had revenue of $107.60 million for the quarter, compared to the consensus estimate of $108.04 million. CAI International had a net margin of 9.68% and a return on equity of 11.43%. The firm’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. On average, analysts expect that CAI International will post 3.02 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Bank of Montreal Can bought a new stake in CAI International during the 2nd quarter valued at $35,000. Tower Research Capital LLC TRC raised its stake in CAI International by 60.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,429 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 539 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in CAI International during the 3rd quarter valued at $138,000. Legacy Capital Partners Inc. bought a new stake in CAI International during the 3rd quarter valued at $218,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of CAI International by 21.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 10,510 shares of the transportation company’s stock worth $261,000 after buying an additional 1,829 shares in the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

About CAI International

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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