KeyCorp Reiterates “Buy” Rating for Trinity Industries, Inc. (TRN)
KeyCorp reiterated their buy rating on shares of Trinity Industries, Inc. (NYSE:TRN) in a research report sent to investors on Monday morning. KeyCorp currently has a $41.00 price objective on the transportation company’s stock, up from their prior price objective of $34.00.
TRN has been the subject of several other research reports. Buckingham Research started coverage on Trinity Industries in a research report on Wednesday, June 21st. They set a buy rating and a $32.00 price objective for the company. Axiom Securities reissued a sell rating and set a $11.00 price objective on shares of Trinity Industries in a research report on Friday, June 30th. BidaskClub raised Trinity Industries from a hold rating to a buy rating in a research report on Saturday, July 1st. ValuEngine cut Trinity Industries from a buy rating to a hold rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised Trinity Industries from a hold rating to a buy rating and set a $32.00 price objective for the company in a research report on Friday, August 25th. 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’s stock. The company has an average rating of Buy and an average price target of $34.25.
Shares of Trinity Industries (NYSE TRN) opened at 35.06 on Monday. Trinity Industries has a one year low of $20.80 and a one year high of $35.97. The stock has a market capitalization of $5.31 billion, a P/E ratio of 21.55 and a beta of 2.19. The company’s 50 day moving average price is $30.06 and its 200 day moving average price is $27.78.
Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.33 earnings per share for the quarter, topping the 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 business had revenue of $905.50 million during the quarter, compared to analysts’ expectations of $947.40 million. During the same quarter in the previous year, the firm earned $0.62 EPS. The firm’s revenue was down 23.6% compared to the same quarter last year. On average, equities analysts expect that Trinity Industries will post $1.23 earnings per share for the current 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 issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.48%. Trinity Industries’s payout ratio is presently 32.10%.
In related news, major shareholder Valueact Capital Master Fund, bought 202,500 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $28.47 per share, with a total value of $5,765,175.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Holdings L.P. Valueact bought 100,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $27.38 per share, with a total value of $2,738,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,709,624 shares of company stock valued at $48,298,143. 2.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. First Mercantile Trust Co. raised its holdings in shares of Trinity Industries by 10.9% in the 2nd quarter. First Mercantile Trust Co. now owns 5,800 shares of the transportation company’s stock worth $163,000 after buying an additional 570 shares in the last quarter. Invictus RG raised its holdings in shares of Trinity Industries by 466.4% in the 1st quarter. Invictus RG now owns 6,406 shares of the transportation company’s stock worth $170,000 after buying an additional 5,275 shares in the last quarter. Pacad Investment Ltd. raised its holdings in shares of Trinity Industries by 36.5% in the 2nd quarter. Pacad Investment Ltd. now owns 7,100 shares of the transportation company’s stock worth $199,000 after buying an additional 1,900 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of Trinity Industries in the 2nd quarter worth approximately $205,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Trinity Industries in the 2nd quarter worth approximately $208,000. 80.82% of the stock is owned by institutional investors and hedge funds.
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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