Trinity Industries, Inc. (TRN) Given Buy Rating at KeyCorp
KeyCorp reissued their buy rating on shares of Trinity Industries, Inc. (NYSE:TRN) in a research note released on Monday morning. The firm currently has a $41.00 price objective on the transportation company’s stock, up from their prior price objective of $34.00.
A number of other analysts also recently commented on the stock. Cowen and Company reiterated a buy rating and issued a $31.00 target price on shares of Trinity Industries in a report on Sunday. Stifel Nicolaus restated a buy rating and set a $42.00 target price (up from $31.00) on shares of Trinity Industries in a report on Sunday. Zacks Investment Research cut shares of Trinity Industries from a buy rating to a hold rating in a report on Friday. Citigroup Inc. upgraded shares of Trinity Industries from a neutral rating to a buy rating and decreased their price target for the stock from $45.00 to $36.00 in a research report on Friday. Finally, ValuEngine upgraded shares of Trinity Industries from a hold rating to a buy rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company has an average rating of Buy and an average target price of $33.00.
Trinity Industries (NYSE TRN) opened at 35.31 on Monday. Trinity Industries has a 52 week low of $20.80 and a 52 week high of $35.97. The stock’s 50 day moving average is $29.52 and its 200-day moving average is $27.62. The stock has a market capitalization of $5.34 billion, a PE ratio of 21.70 and a beta of 2.19.
Trinity Industries (NYSE:TRN) last issued its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Trinity Industries had a net margin of 6.20% and a return on equity of 5.75%. The company had revenue of $905.50 million during the quarter, compared to the consensus estimate of $947.40 million. During the same period in the prior year, the company earned $0.62 EPS. Trinity Industries’s revenue was down 23.6% on a year-over-year basis. Equities research analysts forecast that Trinity Industries will post $1.23 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, October 12th. Trinity Industries’s dividend payout ratio is presently 32.10%.
In other Trinity Industries news, major shareholder Valueact Capital Master Fund, bought 248,941 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was acquired at an average price of $28.65 per share, with a total value of $7,132,159.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings L.P. Valueact bought 7,114 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average cost of $28.50 per share, with a total value of $202,749.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,709,624 shares of company stock worth $48,298,143. 2.00% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. First Mercantile Trust Co. raised its position in Trinity Industries by 10.9% during the second quarter. First Mercantile Trust Co. now owns 5,800 shares of the transportation company’s stock valued at $163,000 after buying an additional 570 shares during the period. Invictus RG lifted its stake in Trinity Industries by 466.4% in the 1st quarter. Invictus RG now owns 6,406 shares of the transportation company’s stock worth $170,000 after acquiring an additional 5,275 shares in the last quarter. Pacad Investment Ltd. lifted its stake in Trinity Industries by 36.5% in the 2nd quarter. Pacad Investment Ltd. now owns 7,100 shares of the transportation company’s stock worth $199,000 after acquiring an additional 1,900 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in Trinity Industries in the 2nd quarter worth about $205,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Trinity Industries in the 2nd quarter worth about $208,000. 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.
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