Trinity Industries, Inc. (TRN) Price Target Raised to $31.00
Trinity Industries, Inc. (NYSE:TRN) had its target price lifted by Cowen and Company from $30.00 to $31.00 in a report issued on Thursday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the transportation company’s stock.
Several other analysts have also commented on the company. Zacks Investment Research lowered Trinity Industries from a hold rating to a strong sell rating in a report on Tuesday, April 25th. Buckingham Research started coverage on Trinity Industries in a report on Wednesday, June 21st. They set a buy rating and a $32.00 price target for the company. BidaskClub raised Trinity Industries from a hold rating to a buy rating in a report on Saturday, July 1st. ValuEngine raised Trinity Industries from a hold rating to a buy rating in a report on Friday, June 2nd. Finally, Axiom Securities reissued a sell rating and set a $11.00 price target on shares of Trinity Industries in a report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $26.78.
Shares of Trinity Industries (TRN) traded up 0.07% on Thursday, hitting $27.46. The stock had a trading volume of 150,833 shares. The stock has a market cap of $4.16 billion, a PE ratio of 16.88 and a beta of 2.19. Trinity Industries has a 12 month low of $20.80 and a 12 month high of $30.13. The stock has a 50 day moving average of $27.43 and a 200-day moving average of $27.07.
Trinity Industries (NYSE:TRN) last issued its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $905.50 million during the quarter, compared to analyst estimates of $947.40 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. Trinity Industries’s revenue was down 23.6% compared to the same quarter last year. Equities research analysts anticipate that Trinity Industries will post $1.19 EPS for the current year.
In other Trinity Industries news, insider D Stephen Menzies sold 27,742 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $26.11, for a total transaction of $724,343.62. Following the completion of the sale, the insider now owns 236,707 shares of the company’s stock, valued at $6,180,419.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Trinity Industries during the fourth quarter valued at approximately $33,224,000. Highbridge Capital Management LLC acquired a new position in shares of Trinity Industries during the fourth quarter valued at approximately $779,000. New England Research & Management Inc. increased its position in shares of Trinity Industries by 127.8% in the first quarter. New England Research & Management Inc. now owns 22,015 shares of the transportation company’s stock valued at $584,000 after buying an additional 12,350 shares during the last quarter. Creative Planning increased its position in shares of Trinity Industries by 4.0% in the first quarter. Creative Planning now owns 17,395 shares of the transportation company’s stock valued at $462,000 after buying an additional 663 shares during the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services increased its position in shares of Trinity Industries by 6.3% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 149,514 shares of the transportation company’s stock valued at $3,970,000 after buying an additional 8,800 shares during the last quarter. Institutional investors and hedge funds own 80.54% 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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