Trinity Industries, Inc. (TRN) Rating Reiterated by Cowen and Company
Trinity Industries, Inc. (NYSE:TRN)‘s stock had its “buy” rating restated by research analysts at Cowen and Company in a note issued to investors on Monday. They presently have a $31.00 price objective on the transportation company’s stock. Cowen and Company’s price target indicates a potential upside of 8.13% from the company’s previous close.
Several other research firms have also commented on TRN. ValuEngine raised Trinity Industries from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Axiom Securities reaffirmed a “sell” rating on shares of Trinity Industries in a report on Thursday, July 13th. BidaskClub raised Trinity Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. Stifel Nicolaus raised Trinity Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $29.00 to $31.00 in a report on Thursday, July 27th. They noted that the move was a valuation call. Finally, TheStreet raised Trinity Industries from a “c” rating to a “b-” rating in a report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $26.89.
Shares of Trinity Industries (NYSE TRN) opened at 28.67 on Monday. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 17.62 and a beta of 2.18. The stock has a 50 day moving average of $28.05 and a 200 day moving average of $27.12. Trinity Industries has a 1-year low of $20.80 and a 1-year high of $30.13.
Trinity Industries (NYSE:TRN) last posted its earnings results on Tuesday, July 25th. The transportation company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm had revenue of $905.50 million for the quarter, compared to analyst estimates of $947.40 million. Trinity Industries had a return on equity of 5.75% and a net margin of 6.20%. Trinity Industries’s revenue for the quarter was down 23.6% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. On average, equities analysts forecast that Trinity Industries will post $1.25 EPS for the current year.
In other news, major shareholder Holdings L.P. Valueact bought 7,114 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average price of $28.50 per share, for a total transaction of $202,749.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Valueact Capital Master Fund, bought 5,100 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average price of $28.41 per share, for a total transaction of $144,891.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,406,628 shares of company stock worth $39,627,578. Company insiders own 2.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC purchased a new position in Trinity Industries during the second quarter valued at $108,733,000. Vanguard Group Inc. increased its position in shares of Trinity Industries by 5.3% in the first quarter. Vanguard Group Inc. now owns 12,267,243 shares of the transportation company’s stock worth $325,695,000 after buying an additional 612,668 shares during the last quarter. Jennison Associates LLC increased its position in shares of Trinity Industries by 124.9% in the second quarter. Jennison Associates LLC now owns 928,230 shares of the transportation company’s stock worth $26,018,000 after buying an additional 515,568 shares during the last quarter. Impala Asset Management LLC increased its position in shares of Trinity Industries by 18.6% in the first quarter. Impala Asset Management LLC now owns 2,016,708 shares of the transportation company’s stock worth $53,544,000 after buying an additional 316,694 shares during the last quarter. Finally, Hancock Holding Co. bought a new position in shares of Trinity Industries during the first quarter worth approximately $7,899,000. Institutional investors and hedge funds own 80.92% of the company’s stock.
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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