Trinity Industries (TRN) Shares Gap Down to $22.26

Trinity Industries Inc (NYSE:TRN) gapped down before the market opened on Friday . The stock had previously closed at $22.72, but opened at $22.26. Trinity Industries shares last traded at $21.56, with a volume of 2687863 shares changing hands.

A number of equities research analysts have commented on the company. UBS Group cut Trinity Industries from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Buckingham Research raised their price target on Trinity Industries from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, October 5th. Stifel Nicolaus raised their price target on Trinity Industries from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, October 5th. Vertical Group raised Trinity Industries from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Finally, Mizuho reissued a “buy” rating and set a $48.00 price target on shares of Trinity Industries in a report on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $38.22.

The company has a quick ratio of 1.38, a current ratio of 2.50 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $3.22 billion, a PE ratio of 14.18, a PEG ratio of 1.37 and a beta of 2.25.

Trinity Industries (NYSE:TRN) last issued its earnings results on Wednesday, October 24th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). Trinity Industries had a return on equity of 5.38% and a net margin of 18.57%. The firm had revenue of $930.90 million during the quarter, compared to the consensus estimate of $969.60 million. During the same period last year, the firm posted $0.43 earnings per share. As a group, equities analysts predict that Trinity Industries Inc will post 1.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th were issued a $0.13 dividend. The ex-dividend date was Friday, October 12th. This represents a $0.52 annualized dividend and a dividend yield of 2.41%. Trinity Industries’s dividend payout ratio (DPR) is 34.21%.

Several hedge funds have recently modified their holdings of TRN. Principal Financial Group Inc. increased its holdings in shares of Trinity Industries by 2.0% in the first quarter. Principal Financial Group Inc. now owns 658,220 shares of the transportation company’s stock worth $21,477,000 after purchasing an additional 13,073 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Trinity Industries by 40.0% in the second quarter. State of Alaska Department of Revenue now owns 16,520 shares of the transportation company’s stock worth $565,000 after purchasing an additional 4,720 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in Trinity Industries in the second quarter worth about $269,000. Bank of Montreal Can purchased a new position in Trinity Industries in the second quarter worth about $2,498,000. Finally, Fox Run Management L.L.C. purchased a new position in Trinity Industries in the second quarter worth about $759,000. 84.84% of the stock is currently owned by hedge funds and other institutional investors.

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About Trinity Industries (NYSE:TRN)

Trinity Industries, Inc provides various products and services to the energy, chemical, agriculture, transportation, and construction sectors in the United States and internationally. Its Rail Group segment offers railcars, including autorack, box, covered hopper, gondola, intermodal, tank, and open hopper cars; and railcar maintenance services.

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