Noteworthy Price Action: Textainer Group Holdings Limited Sets 52 Week Low; Strong Momentum for Sellers

Noteworthy Price Action: Textainer Group Holdings Limited Sets 52 Week Low; Strong Momentum for Sellers

The stock of Textainer Group Holdings Limited (NYSE:TGH) hit a new 52-week low and has $6.27 target or 11.00% below today’s $7.05 share price. The 6 months bearish chart indicates high risk for the $369.96M company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $6.27 price target is reached, the company will be worth $40.70 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock closed at $7.05 during the last session. It is down 52.49% since March 31, 2016 and is downtrending. It has underperformed by 55.02% the S&P500.

Textainer Group Holdings Limited (NYSE:TGH) Ratings Coverage

Out of 6 analysts covering Textainer Group Holdings Limited (NYSE:TGH), 0 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 0 are positive. Textainer Group Holdings Limited has been the topic of 14 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was maintained by Cowen & Co on Tuesday, August 4 with “Market Perform”. As per Wednesday, November 4, the company rating was upgraded by Macquarie Research. RBC Capital Markets maintained the stock with “Sector Perform” rating in Wednesday, November 4 report. Cowen & Co maintained Textainer Group Holdings Limited (NYSE:TGH) on Friday, February 12 with “Market Perform” rating. RBC Capital Markets maintained Textainer Group Holdings Limited (NYSE:TGH) on Friday, February 12 with “Sector Perform” rating. Macquarie Research downgraded the shares of TGH in a report on Wednesday, August 5 to “Underperform” rating. As per Wednesday, August 5, the company rating was maintained by RBC Capital Markets. The stock has “Market Perform” rating given by Cowen & Co on Wednesday, November 4. The firm has “Market Perform” rating by Keefe Bruyette & Woods given on Friday, January 15.

According to Zacks Investment Research, “TEXTAINER GROUP is the worlds largest lessor of intermodal containers with a total fleet of more than 1.3 million containers, representing over 2,000,000 TEU. They lease containers to more than 400 shipping lines and other lessees, including each of the world’s top 20 container lines. Yhey are also the primary supplier of leased containers to the U.S. Military. Their goal is to be the most reliable lessor of containers in locations where their customers need them. They have provided an average of more than 100,000 TEU of new containers per year for the past 10 years, and have been one of the largest purchasers of new containers among container lessors over the same period. They are also one of the largest sellers of used containers , having sold an average of more than 53,000 containers per year for the last five years.”

More notable recent Textainer Group Holdings Limited (NYSE:TGH) news were published by: Fool.com which released: “How Risky Is Textainer Group Holdings Ltd.?” on September 20, 2016, also Fool.com with their article: “Here’s Why Textainer Group Holdings Limited’s Stock Sank Another 13% in September” published on October 07, 2016, Fool.com published: “Textainer Group Holdings Limited’s Earnings Continue to Sink” on August 09, 2016. More interesting news about Textainer Group Holdings Limited (NYSE:TGH) were released by: Fool.com and their article: “Better Buy: Textainer Group Holdings Limited vs. Frontline Ltd.” published on July 22, 2016 as well as Fool.com‘s news article titled: “3 Things Textainer Group Holdings Limited’s CEO Wants You to Know” with publication date: August 16, 2016.

TGH Company Profile

Textainer Group Holdings Limited (TGH), incorporated on December 2, 1993, is a holding company. The Firm is involved in the purchase, ownership, management, leasing and disposal of a fleet of intermodal containers. The Firm operates in three divisions: Container Ownership, which owned containers accounting for approximately 80% of the Company’s fleet; Container Management, which managed containers on behalf of approximately 10 affiliated and unaffiliated container investors, providing acquisition, management and disposal services, and total managed containers accounted for approximately 20% of its fleet, and Container Resale, which sells containers from its fleet when they reach the end of their useful lives in marine service, and also purchases and leases or resells containers from shipping line customers, container traders and other sellers of containers. The Firm is a lessor of intermodal containers based on fleet size, with a total fleet of approximately 2.1 million containers. The Firm leases containers to approximately 360 shipping lines and other lessees. The Firm is also a seller of used containers.

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