Triton International Limited (TRTN) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Triton International Limited (NASDAQ:TRTN) from a strong-buy rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Triton International Limited offers acquisition, leasing, re-leasing, and sale of intermodal containers. The company’s leasing equipment consists of Dry Freight Containers, Refrigerated Containers, Special Containers, Tank Containers and Chassis. Triton International Limited, formerly known as TAL International Group, Inc., is based in Hamilton, Bermuda. “
Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods restated a hold rating and set a $35.00 target price on shares of Triton International Limited in a research note on Thursday, August 10th. Cowen and Company restated an outperform rating and set a $40.00 target price on shares of Triton International Limited in a research note on Monday, June 19th. BidaskClub upgraded Triton International Limited from a hold rating to a buy rating in a research note on Thursday, October 5th. Finally, SunTrust Banks, Inc. restated a buy rating and set a $40.00 target price (up from $35.00) on shares of Triton International Limited in a research note on Thursday, August 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Triton International Limited currently has an average rating of Buy and an average price target of $37.50.
Triton International Limited (NASDAQ TRTN) traded up 2.48% on Wednesday, hitting $36.81. The stock had a trading volume of 290,029 shares. The stock has a market cap of $2.74 billion and a P/E ratio of 51.92. The company’s 50-day moving average is $34.30 and its 200-day moving average is $31.94. Triton International Limited has a one year low of $11.50 and a one year high of $38.19.
Triton International Limited (NASDAQ:TRTN) last announced its earnings results on Tuesday, August 8th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $281.90 million for the quarter, compared to analyst estimates of $281.09 million. The firm’s revenue was up 78.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, analysts anticipate that Triton International Limited will post $2.57 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.80 dividend on an annualized basis and a yield of 5.01%.
In related news, VP Michelle Gallagher sold 2,000 shares of Triton International Limited stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $34.68, for a total value of $69,360.00. Following the completion of the transaction, the vice president now directly owns 25,158 shares in the company, valued at $872,479.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Large investors have recently bought and sold shares of the stock. Karp Capital Management Corp acquired a new position in Triton International Limited in the first quarter worth about $221,000. Pillar Pacific Capital Management LLC acquired a new position in Triton International Limited in the second quarter worth about $301,000. Tudor Investment Corp ET AL acquired a new position in Triton International Limited in the first quarter worth about $329,000. UBS Asset Management Americas Inc. grew its stake in Triton International Limited by 60.5% in the second quarter. UBS Asset Management Americas Inc. now owns 16,690 shares of the company’s stock worth $558,000 after purchasing an additional 6,291 shares in the last quarter. Finally, American International Group Inc. grew its stake in Triton International Limited by 27.5% in the first quarter. American International Group Inc. now owns 24,303 shares of the company’s stock worth $627,000 after purchasing an additional 5,245 shares in the last quarter.
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