Textainer Group Holdings Limited (NYSE:TGH) Short Interest Down 18.6% in August

Textainer Group Holdings Limited (NYSE:TGH) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 854,400 shares, a drop of 18.6% from the August 15th total of 1,050,000 shares. Based on an average trading volume of 198,600 shares, the days-to-cover ratio is currently 4.3 days. Approximately 2.1% of the company’s shares are short sold.

Textainer Group Stock Up 0.9 %

Shares of NYSE:TGH traded up $0.33 during midday trading on Friday, reaching $38.84. 343,369 shares of the company were exchanged, compared to its average volume of 135,259. Textainer Group has a fifty-two week low of $26.08 and a fifty-two week high of $43.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.88. The stock has a fifty day simple moving average of $40.42 and a two-hundred day simple moving average of $37.23. The firm has a market cap of $1.65 billion, a PE ratio of 7.14 and a beta of 1.23.

Textainer Group (NYSE:TGH) last issued its quarterly earnings data on Tuesday, August 1st. The transportation company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.05. Textainer Group had a net margin of 33.09% and a return on equity of 15.61%. The business had revenue of $192.20 million for the quarter, compared to analyst estimates of $193.68 million. During the same period last year, the business posted $1.63 earnings per share. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Textainer Group will post 4.68 earnings per share for the current year.

Textainer Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, August 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.09%. Textainer Group’s payout ratio is 22.06%.

Analysts Set New Price Targets

TGH has been the topic of several analyst reports. StockNews.com upgraded shares of Textainer Group from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Keefe, Bruyette & Woods lowered shares of Textainer Group from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $40.00 to $45.00 in a report on Thursday, July 27th.

Institutional Investors Weigh In On Textainer Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in Textainer Group by 9.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,391 shares of the transportation company’s stock valued at $270,000 after buying an additional 720 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Textainer Group by 10.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,873 shares of the transportation company’s stock valued at $310,000 after buying an additional 767 shares during the last quarter. Dorsey Wright & Associates acquired a new stake in Textainer Group in the 4th quarter valued at $36,000. Algert Global LLC increased its stake in Textainer Group by 4.8% in the 3rd quarter. Algert Global LLC now owns 26,193 shares of the transportation company’s stock valued at $704,000 after buying an additional 1,190 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Textainer Group by 0.9% in the 4th quarter. Sei Investments Co. now owns 140,202 shares of the transportation company’s stock valued at $4,348,000 after buying an additional 1,254 shares during the last quarter. 44.28% of the stock is currently owned by institutional investors and hedge funds.

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.