Royce & Associates LP purchased a new position in CAI International, Inc. (NYSE:CAI) during the first quarter, Holdings Channel reports. The firm purchased 256,162 shares of the transportation company’s stock, valued at approximately $4,032,000.
Several other hedge funds also recently made changes to their positions in CAI. American International Group Inc. raised its stake in shares of CAI International by 7.1% in the first quarter. American International Group Inc. now owns 9,650 shares of the transportation company’s stock worth $152,000 after buying an additional 637 shares in the last quarter. Cutler Group LP increased its position in CAI International by 264.2% in the first quarter. Cutler Group LP now owns 12,999 shares of the transportation company’s stock worth $204,000 after buying an additional 9,430 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in CAI International by 18.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 13,425 shares of the transportation company’s stock worth $211,000 after buying an additional 2,130 shares during the last quarter. Teachers Advisors LLC increased its position in CAI International by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 26,438 shares of the transportation company’s stock worth $229,000 after buying an additional 520 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in CAI International during the first quarter worth about $288,000. Hedge funds and other institutional investors own 58.14% of the company’s stock.
CAI International, Inc. (NYSE:CAI) opened at 23.33 on Friday. The stock has a market cap of $444.25 million, a P/E ratio of 110.57 and a beta of 2.22. CAI International, Inc. has a 12-month low of $6.75 and a 12-month high of $24.50. The company has a 50 day moving average of $20.58 and a 200-day moving average of $15.76.
CAI International (NYSE:CAI) last issued its quarterly earnings results on Thursday, April 20th. The transportation company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.14. CAI International had a net margin of 1.41% and a return on equity of 2.95%. The company had revenue of $81.50 million for the quarter, compared to the consensus estimate of $78.69 million. During the same quarter in the prior year, the company earned $0.36 EPS. CAI International’s quarterly revenue was up 21.6% on a year-over-year basis. Equities analysts forecast that CAI International, Inc. will post $1.89 earnings per share for the current year.
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CAI has been the topic of a number of research reports. Zacks Investment Research downgraded shares of CAI International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 18th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $24.00 price objective (up previously from $20.00) on shares of CAI International in a report on Sunday, April 23rd. Finally, Cowen and Company raised their price objective on shares of CAI International from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Friday, April 21st.
About CAI International
CAI International, Inc is a transportation finance and logistics company. The Company purchases equipment, primarily intermodal shipping containers and railcars, which it leases to its customers, and also manages equipment for third-party investors. The Company operates through three segments: container leasing, rail leasing and logistics.
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