Triton International (NYSE:TRTN) posted its quarterly earnings results on Friday. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05, Briefing.com reports. The firm had revenue of $350.08 million for the quarter, compared to analyst estimates of $349.39 million. Triton International had a net margin of 35.39% and a return on equity of 14.30%. Triton International’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share.
NYSE:TRTN traded up $0.71 on Friday, hitting $33.72. The stock had a trading volume of 148,725 shares, compared to its average volume of 495,484. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.69 and a beta of 3.11. Triton International has a 1-year low of $27.76 and a 1-year high of $43.85.
TRTN has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Triton International from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Thursday, October 4th. Compass Point restated a “buy” rating and set a $42.00 price target on shares of Triton International in a research report on Friday, August 3rd. Bank of America lowered their price target on shares of Triton International from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Wells Fargo & Co lowered shares of Triton International from an “outperform” rating to a “market perform” rating and set a $35.00 price target on the stock. in a research report on Friday, September 28th. Finally, Keefe, Bruyette & Woods upgraded shares of Triton International from a “market perform” rating to an “outperform” rating in a research report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $41.29.
In other Triton International news, Director Pincus (Ganymede-Ii) P. Warburg sold 1,850,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $34.78, for a total value of $64,343,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michelle Gallagher sold 2,900 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $38.01, for a total transaction of $110,229.00. Following the completion of the transaction, the vice president now owns 13,209 shares in the company, valued at $502,074.09. The disclosure for this sale can be found here. Insiders sold a total of 1,859,000 shares of company stock worth $64,672,429 over the last quarter. 1.40% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of TRTN. Dimensional Fund Advisors LP boosted its holdings in Triton International by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,003,565 shares of the company’s stock valued at $153,409,000 after purchasing an additional 554,800 shares during the last quarter. Penn Capital Management Co. Inc. purchased a new stake in shares of Triton International in the 2nd quarter valued at approximately $11,233,000. BlackRock Inc. raised its stake in shares of Triton International by 7.7% in the 2nd quarter. BlackRock Inc. now owns 3,372,095 shares of the company’s stock valued at $103,389,000 after acquiring an additional 240,717 shares during the period. LSV Asset Management purchased a new stake in shares of Triton International in the 2nd quarter valued at approximately $5,720,000. Finally, Lonestar Capital Management LLC purchased a new stake in shares of Triton International in the 2nd quarter valued at approximately $4,906,000. Institutional investors own 65.31% of the company’s stock.
About Triton International
Triton International Limited engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal transportation equipment to shipping lines, and freight forwarding companies and manufacturers. It operates in two segments, Equipment Leasing and Equipment Trading. The company primarily leases dry freight, refrigerated, special, and tank containers; and chassis used for the transportation of containers, as well as manages containers owned by third parties.
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