Zacks Investment Research upgraded shares of CAI International Inc. (NYSE:CAI) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning.
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. “
Shares of CAI International (NYSE:CAI) opened at 9.50 on Monday. The firm’s 50-day moving average is $8.39 and its 200 day moving average is $8.17. CAI International has a 52 week low of $4.83 and a 52 week high of $11.53. The firm’s market capitalization is $180.41 million.
CAI International (NYSE:CAI) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.10. The firm had revenue of $78.50 million for the quarter, compared to analyst estimates of $76.51 million. CAI International had a positive return on equity of 6.00% and a negative net margin of 2.50%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 EPS. Equities research analysts forecast that CAI International will post $0.90 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new stake in CAI International during the first quarter valued at approximately $26,396,000. Aristotle Capital Boston LLC boosted its stake in CAI International by 4.9% in the second quarter. Aristotle Capital Boston LLC now owns 281,342 shares of the company’s stock valued at $2,110,000 after buying an additional 13,269 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in CAI International by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 51,250 shares of the company’s stock valued at $385,000 after buying an additional 882 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in CAI International during the second quarter valued at approximately $121,000. Finally, Prudential Financial Inc. boosted its stake in CAI International by 5.4% in the second quarter. Prudential Financial Inc. now owns 281,516 shares of the company’s stock valued at $2,111,000 after buying an additional 14,300 shares during the period. 62.03% of the stock is currently owned by institutional investors and hedge funds.
About CAI International
CAI International, Inc is a transportation finance and logistics company. The Company purchases equipment, which it leases primarily to container shipping lines, freight forwarders and other transportation companies. The Company operates through three segments: container leasing, rail leasing and logistics.
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