CAI International (NYSE:CAI) Sees Strong Trading Volume

Shares of CAI International, Inc. (NYSE:CAI) saw an uptick in trading volume on Monday . 32,162 shares were traded during mid-day trading, a decline of 89% from the previous session’s volume of 298,536 shares.The stock last traded at $55.84 and had previously closed at $55.86.

A number of research firms have issued reports on CAI. B. Riley cut CAI International from a “buy” rating to a “neutral” rating in a research report on Friday, June 18th. William Blair lowered CAI International from an “outperform” rating to a “market perform” rating in a research note on Friday, June 18th. Keefe, Bruyette & Woods lowered CAI International from an “outperform” rating to a “market perform” rating and set a $56.00 price target on the stock. in a research note on Tuesday, June 29th. Finally, Zacks Investment Research raised CAI International from a “sell” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Tuesday, August 10th.

The company has a fifty day moving average of $55.87 and a 200-day moving average of $49.09. The firm has a market cap of $969.27 million, a P/E ratio of 10.40 and a beta of 1.49. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.45 and a quick ratio of 0.45.

CAI International (NYSE:CAI) last announced its quarterly earnings results on Tuesday, August 3rd. The transportation company reported $2.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.30. CAI International had a return on equity of 20.59% and a net margin of 31.60%. The business had revenue of $85.70 million during the quarter, compared to the consensus estimate of $82.93 million. On average, sell-side analysts expect that CAI International, Inc. will post 7.78 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 27th. Investors of record on Friday, September 10th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $1.20 annualized dividend and a yield of 2.15%. CAI International’s dividend payout ratio (DPR) is currently 23.72%.

A number of institutional investors have recently made changes to their positions in the stock. Magnetar Financial LLC bought a new position in CAI International in the 2nd quarter valued at $71,231,000. Versor Investments LP bought a new position in CAI International in the 2nd quarter valued at $49,906,000. Millennium Management LLC grew its stake in CAI International by 831.8% in the 2nd quarter. Millennium Management LLC now owns 653,935 shares of the transportation company’s stock valued at $36,620,000 after purchasing an additional 583,756 shares during the period. Water Island Capital LLC bought a new position in CAI International in the 2nd quarter valued at $25,873,000. Finally, Vivaldi Asset Management LLC bought a new position in CAI International in the 2nd quarter valued at $12,220,000. Institutional investors and hedge funds own 87.64% of the company’s stock.

CAI International Company Profile (NYSE:CAI)

CAI International, Inc is a transportation finance and logistics company, which engages in the provision of intermodal shipping containers. The company was founded by Hiromitsu Ogawa on August 3, 1989 and is headquartered in San Francisco, CA.

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