KeyCorp Reiterates Buy Rating for Trinity Industries Inc. (TRN)
Trinity Industries Inc. (NYSE:TRN)‘s stock had its “buy” rating restated by research analysts at KeyCorp in a report released on Monday. They currently have a $28.00 price target on the stock.
The analysts wrote, “We visited TRN’s wind tower facility outside Des Moines, IA. Mgmt gave an informative overview of the competitive environment and showcased initiatives and productivity improvements that solidify TRN’s strong competitive position. We think TRN is the dominant non-captive wind tower OEM and should benefit from the recent PTC extension, improving turbine efficiency and coal plant retirements. Broadly, we think TRN’s diversification and $5.6B backlog provide solid visib. relative to other co’s. Should TRN receive a favorable outcome in ongoing litigation, we think backlog, liquidity and valuation could attract new money.””
A number of other research firms have also weighed in on TRN. Credit Agricole SA assumed coverage on Trinity Industries in a research note on Friday. They set an “underperform” rating and a $26.00 price objective for the company. Stifel Nicolaus increased their price objective on Trinity Industries from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Friday. Zacks Investment Research lowered Trinity Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Wells Fargo & Co. reaffirmed a “hold” rating and issued a $22.00 price target on shares of Trinity Industries in a research note on Monday, September 19th. Finally, Cowen and Company raised their price target on Trinity Industries from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, July 25th. Five analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Trinity Industries presently has an average rating of “Hold” and an average target price of €21.11 ($23.46).
Shares of Trinity Industries (NYSE:TRN) traded up 1.08% during mid-day trading on Monday, reaching $24.44. 224,127 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $24.10 and a 200 day moving average of $20.45. The firm has a market capitalization of $3.72 billion, a P/E ratio of 6.31 and a beta of 2.16. Trinity Industries has a one year low of $14.94 and a one year high of $30.38.
Trinity Industries (NYSE:TRN) last issued its earnings results on Thursday, July 21st. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.14. The business earned $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Trinity Industries had a return on equity of 14.62% and a net margin of 10.91%. During the same quarter in the prior year, the firm earned $1.33 earnings per share. On average, analysts forecast that Trinity Industries will post $2.20 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.17%. Trinity Industries’s dividend payout ratio (DPR) is 11.37%.
A number of institutional investors have recently bought and sold shares of TRN. Synovus Financial Corp increased its position in Trinity Industries by 0.8% in the second quarter. Synovus Financial Corp now owns 11,685 shares of the company’s stock worth $220,000 after buying an additional 92 shares during the period. Park National Corp OH increased its position in Trinity Industries by 0.9% in the second quarter. Park National Corp OH now owns 16,049 shares of the company’s stock worth $298,000 after buying an additional 150 shares during the period. Fulton Bank N.A. increased its position in Trinity Industries by 1.4% in the second quarter. Fulton Bank N.A. now owns 15,619 shares of the company’s stock worth $290,000 after buying an additional 223 shares during the period. Stephens Inc. AR increased its position in Trinity Industries by 3.5% in the second quarter. Stephens Inc. AR now owns 13,115 shares of the company’s stock worth $244,000 after buying an additional 447 shares during the period. Finally, Breton Hill Capital Ltd. increased its position in Trinity Industries by 1.1% in the second quarter. Breton Hill Capital Ltd. now owns 50,112 shares of the company’s stock worth $931,000 after buying an additional 526 shares during the period. Institutional investors and hedge funds own 72.15% of the company’s stock.
Trinity Industries Company Profile
Trinity Industries, Inc is a diversified industrial company that owns a range of businesses providing products and services to the energy, transportation, chemical 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; aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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