Trinity Industries, Inc. (TRN) Earns “Buy” Rating from Cowen and Company
Cowen and Company restated their buy rating on shares of Trinity Industries, Inc. (NYSE:TRN) in a research report sent to investors on Sunday. Cowen and Company currently has a $31.00 price objective on the transportation company’s stock.
Several other brokerages have also recently issued reports on TRN. Stifel Nicolaus restated a buy rating and issued a $42.00 target price (up previously from $31.00) on shares of Trinity Industries in a report on Sunday. Zacks Investment Research downgraded shares of Trinity Industries from a buy rating to a hold rating in a research note on Friday, September 29th. Citigroup Inc. upgraded shares of Trinity Industries from a neutral rating to a buy rating and lowered their price target for the company from $45.00 to $36.00 in a report on Friday, September 29th. ValuEngine upgraded shares of Trinity Industries from a hold rating to a buy rating in a report on Friday, September 1st. Finally, BidaskClub raised shares of Trinity Industries from a hold rating to a buy rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $33.25.
Trinity Industries (NYSE TRN) opened at 35.07 on Friday. The company has a 50-day moving average of $29.70 and a 200 day moving average of $27.67. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 21.56 and a beta of 2.19. Trinity Industries has a 12-month low of $20.80 and a 12-month high of $35.97.
Trinity Industries (NYSE:TRN) last announced its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Trinity Industries had a return on equity of 5.75% and a net margin of 6.20%. The business had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $947.40 million. During the same period in the previous year, the firm earned $0.62 EPS. The business’s quarterly revenue was down 23.6% on a year-over-year basis. Equities analysts expect that Trinity Industries will post $1.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.48%. Trinity Industries’s dividend payout ratio is presently 32.10%.
In related news, major shareholder Holdings L.P. Valueact purchased 167,395 shares of Trinity Industries stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average price of $27.51 per share, for a total transaction of $4,605,036.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Valueact Capital Master Fund, purchased 248,941 shares of Trinity Industries stock in a transaction that occurred on Thursday, August 31st. The shares were bought at an average price of $28.65 per share, for a total transaction of $7,132,159.65. The disclosure for this purchase can be found here. Insiders purchased 1,709,624 shares of company stock valued at $48,298,143 in the last ninety days. 2.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TRN. World Asset Management Inc boosted its position in Trinity Industries by 1.3% during the 1st quarter. World Asset Management Inc now owns 10,820 shares of the transportation company’s stock valued at $287,000 after acquiring an additional 134 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Trinity Industries by 7.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 122,677 shares of the transportation company’s stock worth $3,257,000 after acquiring an additional 8,247 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Trinity Industries by 0.4% during the 1st quarter. Ameriprise Financial Inc. now owns 486,967 shares of the transportation company’s stock worth $12,929,000 after acquiring an additional 2,167 shares during the period. Nordea Investment Management AB raised its position in shares of Trinity Industries by 19.9% in the 1st quarter. Nordea Investment Management AB now owns 56,630 shares of the transportation company’s stock worth $1,504,000 after acquiring an additional 9,395 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Trinity Industries in the 1st quarter worth approximately $395,000. Institutional investors and hedge funds own 80.82% of the company’s stock.
About Trinity Industries
Trinity Industries, Inc is a diversified industrial company that owns businesses providing products and services to the energy, chemical, agriculture, transportation and construction sectors. The Company’s products and services include railcars and railcar parts; parts and steel components; the leasing, management and maintenance of railcars; highway products; construction aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
Receive News & Ratings for Trinity Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trinity Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.