StockNews.com Initiates Coverage on Textainer Group (NYSE:TGH)

StockNews.com began coverage on shares of Textainer Group (NYSE:TGH) in a research report sent to investors on Friday. The firm issued a hold rating on the transportation company’s stock.

A number of other analysts also recently weighed in on TGH. Keefe, Bruyette & Woods downgraded shares of Textainer Group from an outperform rating to a market perform rating and boosted their target price for the stock from $40.00 to $45.00 in a report on Thursday, July 27th. B. Riley downgraded Textainer Group from a buy rating to a neutral rating and cut their target price for the company from $55.00 to $50.00 in a research report on Monday, October 23rd.

Textainer Group Stock Performance

NYSE TGH opened at $49.35 on Friday. The stock has a market capitalization of $2.09 billion, a PE ratio of 10.13 and a beta of 1.17. Textainer Group has a 1-year low of $28.84 and a 1-year high of $49.60. The business has a 50 day simple moving average of $42.09 and a two-hundred day simple moving average of $40.24. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.14 and a quick ratio of 1.14.

Textainer Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.20 annualized dividend and a yield of 2.43%. Textainer Group’s dividend payout ratio (DPR) is 24.64%.

Institutional Trading of Textainer Group

A number of hedge funds have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. lifted its position in shares of Textainer Group by 2.7% in the 1st quarter. Donald Smith & CO. Inc. now owns 2,829,216 shares of the transportation company’s stock worth $90,846,000 after purchasing an additional 73,790 shares during the period. Raymond James & Associates purchased a new position in Textainer Group during the 1st quarter worth approximately $225,000. Dimensional Fund Advisors LP lifted its holdings in shares of Textainer Group by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,661,020 shares of the transportation company’s stock valued at $117,555,000 after buying an additional 139,904 shares during the period. Truist Financial Corp acquired a new stake in shares of Textainer Group during the 2nd quarter worth approximately $481,000. Finally, Capital Management Corp VA acquired a new stake in Textainer Group during the second quarter valued at $5,896,000. 44.28% of the stock is owned by hedge funds and other 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's containers include standard and specialized dry freight, and refrigerated containers, as well as other special-purpose containers, which include tank, 45', pallet-wide, and other types of containers.