Trinity Industries, Inc. (TRN) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Trinity Industries, Inc. (NYSE:TRN) from a buy rating to a hold rating in a research note released on Saturday.
According to Zacks, “Trinity Industries, Inc. is engaged in the manufacture, marketing, and leasing of a wide variety of products consisting of the following business segments or groups: Railcar Group, Inland Barge Group, Parts and Services Group, Highway Construction Product Group, Concrete & Aggregate Group, Industrial Group, and others. Others includes transportation services, the company’s captive insurance company, and other peripheral businesses. “
Several other brokerages also recently issued reports on TRN. Cowen and Company raised their price objective on shares of Trinity Industries from $30.00 to $31.00 and gave the stock an outperform rating in a research note on Thursday, July 27th. ValuEngine raised shares of Trinity Industries from a hold rating to a buy rating in a research note on Friday, September 1st. Axiom Securities reissued a sell rating on shares of Trinity Industries in a research note on Thursday, July 13th. BidaskClub raised shares of Trinity Industries from a strong sell rating to a sell rating in a research note on Thursday, June 15th. Finally, Stifel Nicolaus raised shares of 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 research report on Thursday, July 27th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Trinity Industries currently has an average rating of Hold and an average price target of $27.63.
Trinity Industries (NYSE:TRN) opened at 30.20 on Friday. Trinity Industries has a one year low of $20.80 and a one year high of $30.49. The company’s 50-day moving average price is $28.75 and its 200-day moving average price is $27.29. The stock has a market cap of $4.57 billion, a P/E ratio of 18.56 and a beta of 2.18.
Trinity Industries (NYSE:TRN) last announced its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The business had revenue of $905.50 million during the quarter, compared to the consensus estimate of $947.40 million. Trinity Industries had a net margin of 6.20% and a return on equity of 5.75%. The firm’s quarterly revenue was down 23.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. Analysts forecast that Trinity Industries will post $1.23 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, October 12th. Trinity Industries’s dividend payout ratio (DPR) is presently 32.10%.
In other Trinity Industries news, major shareholder Valueact Capital Master Fund, acquired 54,055 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were bought at an average cost of $28.46 per share, with a total value of $1,538,405.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings L.P. Valueact acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were acquired at an average cost of $27.38 per share, for a total transaction of $2,738,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,709,624 shares of company stock worth $48,298,143. Corporate insiders own 2.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in 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 period. Dimensional Fund Advisors LP increased its holdings in Trinity Industries by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,934,005 shares of the transportation company’s stock valued at $130,998,000 after buying an additional 24,412 shares during the period. State Street Corp increased its holdings in Trinity Industries by 1.8% during the first quarter. State Street Corp now owns 4,070,436 shares of the transportation company’s stock valued at $108,071,000 after buying an additional 71,993 shares during the period. Janus Henderson Group PLC purchased a new position in Trinity Industries during the second quarter valued at approximately $108,733,000. Finally, Impala Asset Management LLC increased its holdings in Trinity Industries by 18.6% during the first quarter. Impala Asset Management LLC now owns 2,016,708 shares of the transportation company’s stock valued at $53,544,000 after buying an additional 316,694 shares during the period. 80.82% of the stock is currently owned by institutional investors.
Trinity Industries Company Profile
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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