Trinity Industries (NYSE:TRN) Lifted to “Buy” at Zacks Investment Research

Trinity Industries (NYSE:TRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, January 2nd. The brokerage presently has a $42.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 16.34% 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. “

Several other equities analysts also recently commented on TRN. 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 research note on Friday, September 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $42.00 price target (up previously from $31.00) on shares of Trinity Industries in a research note on Sunday, October 1st. Cowen reaffirmed a “buy” rating and set a $31.00 price target on shares of Trinity Industries in a research note on Sunday, October 1st. KeyCorp reaffirmed a “buy” rating and set a $41.00 price target (up previously from $34.00) on shares of Trinity Industries in a research note on Monday, October 2nd. Finally, Buckingham Research raised their price target 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $36.25.

Shares of Trinity Industries (NYSE TRN) opened at $36.10 on Tuesday. The company has a current ratio of 3.70, a quick ratio of 2.62 and a debt-to-equity ratio of 0.75. The stock has a market cap of $5,480.00, a P/E ratio of 24.07, a P/E/G ratio of 2.66 and a beta of 2.27. Trinity Industries has a 52-week low of $25.01 and a 52-week high of $38.25.

Trinity Industries (NYSE:TRN) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.11. The business had revenue of $973.60 million during the quarter, compared to the consensus estimate of $951.60 million. Trinity Industries had a net margin of 5.97% and a return on equity of 5.32%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. analysts forecast that Trinity Industries will post 1.48 earnings per share for the current fiscal year.

Trinity Industries announced that its board has approved a share repurchase program on Tuesday, December 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

In other Trinity Industries news, SVP William A. Mcwhirter sold 20,000 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $36.90, for a total value of $738,000.00. Following the completion of the sale, the senior vice president now directly owns 191,339 shares in the company, valued at $7,060,409.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings L.P. Valueact purchased 125,000 shares of Trinity Industries stock in a transaction on Monday, November 13th. The stock was bought at an average price of $32.89 per share, with a total value of $4,111,250.00. The disclosure for this purchase can be found here. Insiders acquired 1,722,237 shares of company stock valued at $55,164,869 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. ValueAct Holdings L.P. grew its holdings in shares of Trinity Industries by 10.7% during the third quarter. ValueAct Holdings L.P. now owns 17,255,115 shares of the transportation company’s stock valued at $550,438,000 after buying an additional 1,672,510 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Trinity Industries by 0.6% during the second quarter. Vanguard Group Inc. now owns 12,345,367 shares of the transportation company’s stock valued at $346,040,000 after buying an additional 78,124 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Trinity Industries by 16.3% during the third quarter. Janus Henderson Group PLC now owns 4,512,499 shares of the transportation company’s stock valued at $143,949,000 after buying an additional 633,336 shares during the last quarter. Impala Asset Management LLC grew its holdings in shares of Trinity Industries by 8.5% during the third quarter. Impala Asset Management LLC now owns 2,130,641 shares of the transportation company’s stock valued at $67,967,000 after buying an additional 167,491 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Trinity Industries by 15.3% during the third quarter. Jennison Associates LLC now owns 1,070,222 shares of the transportation company’s stock valued at $34,140,000 after buying an additional 141,992 shares during the last quarter. Hedge funds and other institutional investors own 82.38% of the company’s stock.

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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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