Trinity Industries (TRN) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Trinity Industries (NYSE:TRN) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $42.00 price objective on the transportation company’s stock.
According to Zacks, “Trinity Industries, Inc., is a diversified industrial company that owns complementary market-leading businesses providing products and services to the energy, chemical, agriculture, transportation, and construction sectors, among others. The company, Trinity Industries, Inc., operates in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment Group. Trinity is engaged in the manufacture, marketing, and leasing of a wide variety of products. Trinity Industries, Inc., is traded on the New York Stock Exchange under the symbol TRN. The company is headquartered is Dallas, Texas. “
A number of other equities research analysts have also recently commented on the stock. ValuEngine upgraded shares of Trinity Industries from a hold rating to a buy rating in a research report on Sunday. Stifel Nicolaus reiterated a buy rating and issued a $43.00 target price on shares of Trinity Industries in a research report on Friday, December 22nd. Cowen raised their price objective on shares of Trinity Industries from $36.00 to $46.00 and gave the stock an outperform rating in a research report on Wednesday, December 13th. Susquehanna Bancshares upgraded shares of Trinity Industries from a neutral rating to a positive rating in a research report on Monday, November 6th. Finally, UBS Group raised shares of Trinity Industries from a neutral rating to a positive rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. Trinity Industries currently has a consensus rating of Buy and a consensus target price of $36.25.
Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.11. The business had revenue of $973.60 million for the quarter, compared to the consensus estimate of $951.60 million. Trinity Industries had a net margin of 5.97% and a return on equity of 5.32%. The company’s revenue was down 12.4% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. sell-side analysts expect that Trinity Industries will post 1.49 earnings per share for the current fiscal year.
Trinity Industries declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be paid a $0.13 dividend. The ex-dividend date is Thursday, January 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.38%. Trinity Industries’s dividend payout ratio is currently 34.67%.
In related news, SVP William A. Mcwhirter sold 20,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $36.90, for a total value of $738,000.00. Following the sale, the senior vice president now directly owns 191,339 shares in the company, valued at approximately $7,060,409.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings L.P. Valueact acquired 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was acquired at an average price of $31.45 per share, for a total transaction of $9,435,000.00. The disclosure for this purchase can be found here. Insiders purchased 1,722,237 shares of company stock valued at $55,164,869 in the last quarter. 2.00% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. ValueAct Holdings L.P. increased its stake in shares of Trinity Industries by 10.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 17,255,115 shares of the transportation company’s stock valued at $550,438,000 after acquiring an additional 1,672,510 shares during the last quarter. Atlantic Trust Group LLC acquired a new position in shares of Trinity Industries during the 2nd quarter valued at about $618,000. Cipher Capital LP acquired a new position in shares of Trinity Industries during the 3rd quarter valued at about $816,000. Chesapeake Asset Management LLC increased its stake in shares of Trinity Industries by 95.9% during the 3rd quarter. Chesapeake Asset Management LLC now owns 54,497 shares of the transportation company’s stock valued at $1,738,000 after acquiring an additional 26,682 shares during the last quarter. Finally, Zuckerman Investment Group LLC increased its stake in shares of Trinity Industries by 111.4% during the 3rd quarter. Zuckerman Investment Group LLC now owns 329,933 shares of the transportation company’s stock valued at $10,525,000 after acquiring an additional 173,883 shares during the last quarter. Institutional investors own 82.16% of the company’s stock.
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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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