CAI International (NYSE:CAI) Shares Gap Down to $44.91


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CAI International, Inc. (NYSE:CAI)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $44.91, but opened at $43.93. CAI International shares last traded at $43.55, with a volume of 796 shares.

Several equities research analysts have recently commented on CAI shares. B. Riley lifted their price objective on shares of CAI International from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, March 26th. Zacks Investment Research upgraded shares of CAI International from a “sell” rating to a “strong-buy” rating and set a $49.00 price objective for the company in a research note on Friday, February 19th.

The company has a market capitalization of $752.07 million, a price-to-earnings ratio of 45.36 and a beta of 1.74. The business’s 50-day moving average is $44.90 and its 200-day moving average is $34.56. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.87.

CAI International (NYSE:CAI) last posted its earnings results on Monday, February 15th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.63. The company had revenue of $81.57 million during the quarter, compared to the consensus estimate of $82.32 million. CAI International had a net margin of 7.22% and a return on equity of 10.61%. As a group, analysts expect that CAI International, Inc. will post 3.62 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 25th. Investors of record on Thursday, March 11th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, March 10th. This is an increase from CAI International’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.76%. CAI International’s payout ratio is currently 51.28%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAI. California Public Employees Retirement System increased its holdings in CAI International by 4.2% in the third quarter. California Public Employees Retirement System now owns 38,991 shares of the transportation company’s stock valued at $1,073,000 after buying an additional 1,555 shares in the last quarter. Aperio Group LLC purchased a new position in CAI International in the third quarter valued at $209,000. State Street Corp increased its holdings in CAI International by 0.5% in the third quarter. State Street Corp now owns 345,759 shares of the transportation company’s stock valued at $9,519,000 after buying an additional 1,694 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in CAI International by 182.2% in the third quarter. JPMorgan Chase & Co. now owns 15,582 shares of the transportation company’s stock valued at $428,000 after buying an additional 10,060 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in CAI International by 496,864.6% in the third quarter. Great West Life Assurance Co. Can now owns 5,029,282 shares of the transportation company’s stock valued at $1,898,000 after buying an additional 5,028,270 shares in the last quarter. 84.24% of the stock is owned by institutional investors.

About CAI International (NYSE:CAI)

CAI International, Inc operates as transportation finance and logistics company in the United States, Switzerland, France, Korea, Singapore, rest of Asia, rest of Europe, and internationally. The company operates through two segments, Container Leasing and Logistics. It leases, re-leases, and disposes equipment; and contracts for the repair, repositioning, and storage of equipment.

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