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

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Textainer Group Holdings Limited (NYSE:TGH) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 964,200 shares, an increase of 19.2% from the July 31st total of 809,100 shares. Based on an average trading volume of 141,300 shares, the days-to-cover ratio is currently 6.8 days. Currently, 4.6% of the shares of the company are short sold.

A number of research firms have weighed in on TGH. Cowen set a $13.00 target price 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 target price on shares of Textainer Group and gave the company a “hold” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Textainer Group currently has an average rating of “Hold” and an average price target of $11.75.

TGH traded up $0.15 during midday trading on Friday, reaching $10.92. The company had a trading volume of 254,584 shares, compared to its average volume of 146,181. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $596.41 million, a PE ratio of 12.13 and a beta of 2.28. Textainer Group has a 12-month low of $6.40 and a 12-month high of $14.17. The business has a 50-day moving average price of $8.46 and a two-hundred day moving average price of $9.66.

Textainer Group (NYSE:TGH) last posted its quarterly earnings results on Tuesday, August 6th. The transportation company reported $0.16 earnings per share (EPS) for the quarter, missing the 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 the consensus estimate of $159.60 million. During the same period last year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts anticipate that Textainer Group will post 1.33 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in shares of Textainer Group by 145.9% in the first quarter. BNP Paribas Arbitrage SA now owns 5,691 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 3,377 shares during the period. M&T Bank Corp bought a new stake in shares of Textainer Group in the second quarter valued at approximately $105,000. JPMorgan Chase & Co. raised its position in shares of Textainer Group by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 10,535 shares of the transportation company’s stock valued at $102,000 after purchasing an additional 2,061 shares during the period. Jefferies Group LLC bought a new stake in shares of Textainer Group in the second quarter valued at approximately $137,000. Finally, Bank of America Corp DE raised its position in shares of Textainer Group by 82.0% in the fourth quarter. Bank of America Corp DE now owns 21,773 shares of the transportation company’s stock valued at $217,000 after purchasing an additional 9,807 shares during the period. 23.08% of the stock is currently owned by institutional investors.

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.

Further Reading: Quiet Period Expirations

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