Trinity Industries (NYSE:TRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, January 2nd. The brokerage presently has a $42.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.58% from the stock’s current price.
According to Zacks, “Trinity Industries, Inc., is a diversified industrial company that owns complementary market-leading businesses providing products and services to the energy, chemical, agriculture, transportation, and construction sectors, among others. The company, Trinity Industries, Inc., operates in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment Group. Trinity is engaged in the manufacture, marketing, and leasing of a wide variety of products. Trinity Industries, Inc., is traded on the New York Stock Exchange under the symbol TRN. The company is headquartered is Dallas, Texas. “
Other equities research analysts have also issued reports about the stock. Buckingham Research boosted their target price on shares of Trinity Industries from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. KeyCorp restated a “buy” rating and issued a $41.00 price objective (up from $34.00) on shares of Trinity Industries in a research note on Monday, October 2nd. Cowen restated a “buy” rating and issued a $31.00 price objective on shares of Trinity Industries in a research note on Sunday, October 1st. Stifel Nicolaus reissued a “buy” rating and set a $42.00 price objective (up previously from $31.00) on shares of Trinity Industries in a report on Sunday, October 1st. Finally, Citigroup raised shares of Trinity Industries from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $45.00 to $36.00 in a report on Friday, September 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. Trinity Industries has an average rating of “Buy” and an average target price of $36.25.
Shares of Trinity Industries (NYSE:TRN) traded down $0.26 on Tuesday, hitting $36.34. The stock had a trading volume of 590,700 shares, compared to its average volume of 1,203,600. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.62 and a current ratio of 3.70. Trinity Industries has a 12-month low of $25.01 and a 12-month high of $38.25. The company has a market cap of $5,580.00, a PE ratio of 24.23, a P/E/G ratio of 2.70 and a beta of 2.27.
Trinity Industries (NYSE:TRN) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. Trinity Industries had a net margin of 5.97% and a return on equity of 5.32%. The company had revenue of $973.60 million during the quarter, compared to analyst estimates of $951.60 million. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. sell-side analysts forecast that Trinity Industries will post 1.48 EPS for the current fiscal year.
Trinity Industries declared that its Board of Directors has initiated a stock buyback plan on Tuesday, December 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, major shareholder Valueact Capital Master Fund, bought 832,600 shares of the stock in a transaction on Monday, October 30th. The stock was bought at an average cost of $31.68 per share, for a total transaction of $26,376,768.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings L.P. Valueact bought 300,000 shares of the stock in a transaction on Thursday, October 26th. The stock was purchased at an average price of $31.45 per share, with a total value of $9,435,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,722,237 shares of company stock worth $55,164,869. 2.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pacad Investment Ltd. lifted its stake in shares of Trinity Industries by 36.5% during the second quarter. Pacad Investment Ltd. now owns 7,100 shares of the transportation company’s stock worth $199,000 after buying an additional 1,900 shares during the period. Dearborn Partners LLC acquired a new stake in shares of Trinity Industries during the second quarter worth $209,000. Sippican Capital Advisors acquired a new stake in shares of Trinity Industries during the third quarter worth $211,000. Griffin Asset Management Inc. acquired a new stake in shares of Trinity Industries during the third quarter worth $213,000. Finally, Capstone Investment Advisors Netherlands B.V. acquired a new stake in shares of Trinity Industries during the second quarter worth $230,000. Institutional investors own 82.16% of the company’s stock.
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Trinity Industries Company Profile
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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