The stock of Textainer Group Holdings Limited (NYSE:TGH) hit a new 52-week low and has $6.29 target or 12.00% below today’s $7.15 share price. The 8 months bearish chart indicates high risk for the $412.46 million company. The 1-year low was reported on Nov, 8 by Barchart.com. If the $6.29 price target is reached, the company will be worth $49.50M 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. About 88,103 shares traded hands. Textainer Group Holdings Limited (NYSE:TGH) has declined 44.12% since April 5, 2016 and is downtrending. It has underperformed by 46.07% 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. RBC Capital Markets maintained the shares of TGH in a report on Friday, February 12 with “Sector Perform” rating. The firm has “Underperform” rating given on Wednesday, August 5 by Macquarie Research. The firm earned “Market Perform” rating on Friday, February 12 by Cowen & Co. RBC Capital Markets maintained the stock with “Sector Perform” rating in Wednesday, August 5 report. The stock of Textainer Group Holdings Limited (NYSE:TGH) earned “Sector Perform” rating by RBC Capital Markets on Wednesday, November 4. The firm earned “Market Perform” rating on Friday, January 15 by Keefe Bruyette & Woods. On Tuesday, August 4 the stock rating was maintained by Cowen & Co with “Market Perform”. On Wednesday, November 4 the stock rating was maintained by Cowen & Co with “Market Perform”. Macquarie Research upgraded the shares of TGH in a report on Wednesday, November 4 to “Neutral” rating.
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: Businesswire.com which released: “Textainer Group Holdings Limited Reports Third-Quarter Results” on November 08, 2016, also Fool.com with their article: “How Risky Is Textainer Group Holdings Ltd.?” published on September 20, 2016, Fool.com published: “Here’s Why Textainer Group Holdings Limited’s Stock Sank Another 13% in September” on October 07, 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: “This Is Why Textainer Group Holdings Limited’s Stock Crashed 22% in August” with publication date: September 06, 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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