Trinity Industries, Inc. (TRN) Rating Reiterated by Cowen and Company
Cowen and Company reissued their buy rating on shares of Trinity Industries, Inc. (NYSE:TRN) in a report released on Sunday morning. They currently have a $31.00 price objective on the transportation company’s stock.
A number of other research firms have also recently commented on TRN. ValuEngine upgraded Trinity Industries from a hold rating to a buy rating in a research report on Friday, September 1st. Zacks Investment Research cut Trinity Industries from a buy rating to a hold rating in a research report on Saturday, September 23rd. Axiom Securities restated a sell rating on shares of Trinity Industries in a research report on Thursday, July 13th. Stifel Nicolaus restated a buy rating and set a $42.00 target price (up from $31.00) on shares of Trinity Industries in a research report on Sunday. Finally, BidaskClub upgraded Trinity Industries from a strong sell rating to a sell rating in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $33.25.
Trinity Industries (TRN) opened at 34.68 on Friday. The stock has a 50 day moving average price of $29.87 and a 200 day moving average price of $27.72. The stock has a market capitalization of $5.25 billion, a P/E ratio of 21.32 and a beta of 2.19. Trinity Industries has a 12 month low of $20.80 and a 12 month high of $35.97.
Trinity Industries (NYSE:TRN) last posted its earnings results on Tuesday, July 25th. The transportation company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Trinity Industries had a return on equity of 5.75% and a net margin of 6.20%. The firm had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $947.40 million. During the same period last year, the firm earned $0.62 EPS. The company’s quarterly revenue was down 23.6% on a year-over-year basis. Equities analysts predict that Trinity Industries will post $1.23 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Thursday, October 12th. Trinity Industries’s dividend payout ratio is presently 32.10%.
In related news, major shareholder Holdings L.P. Valueact purchased 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average cost of $27.38 per share, with a total value of $2,738,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Valueact Capital Master Fund, purchased 202,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $28.47 per share, for a total transaction of $5,765,175.00. The disclosure for this purchase can be found here. Insiders purchased a total of 1,709,624 shares of company stock worth $48,298,143 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. First Mercantile Trust Co. lifted its stake in Trinity Industries by 10.9% in the 2nd quarter. First Mercantile Trust Co. now owns 5,800 shares of the transportation company’s stock valued at $163,000 after buying an additional 570 shares in the last quarter. Invictus RG lifted its stake in Trinity Industries by 466.4% in the 1st quarter. Invictus RG now owns 6,406 shares of the transportation company’s stock valued at $170,000 after buying an additional 5,275 shares in the last quarter. Pacad Investment Ltd. lifted its stake in Trinity Industries by 36.5% in the 2nd quarter. Pacad Investment Ltd. now owns 7,100 shares of the transportation company’s stock valued at $199,000 after buying an additional 1,900 shares in the last quarter. Fisher Asset Management LLC purchased a new position in Trinity Industries in the 2nd quarter valued at about $205,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in Trinity Industries in the 2nd quarter valued at about $208,000. 80.82% of the stock is currently owned by hedge funds and other institutional investors.
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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