Short Interest in Triton International Ltd (NYSE:TRTN) Increases By 38.9%
Triton International Ltd (NYSE:TRTN) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 2,124,200 shares, an increase of 38.9% from the July 31st total of 1,529,500 shares. Based on an average daily trading volume, of 374,700 shares, the days-to-cover ratio is presently 5.7 days. Approximately 4.0% of the shares of the stock are short sold.
TRTN traded up $0.29 during trading on Friday, reaching $35.34. 429,336 shares of the stock were exchanged, compared to its average volume of 447,108. The business’s 50 day moving average price is $31.90 and its two-hundred day moving average price is $31.91. The company has a debt-to-equity ratio of 3.42, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 7.82, a P/E/G ratio of 0.72 and a beta of 2.30. Triton International has a 1 year low of $28.20 and a 1 year high of $38.45.
Triton International (NYSE:TRTN) last posted its earnings results on Thursday, July 25th. The company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.05. The company had revenue of $338.60 million for the quarter, compared to the consensus estimate of $345.61 million. Triton International had a return on equity of 16.56% and a net margin of 24.70%. Triton International’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 earnings per share. On average, analysts anticipate that Triton International will post 4.7 EPS for the current year.
In related news, VP Michelle Gallagher sold 2,360 shares of Triton International stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $32.29, for a total value of $76,204.40. Following the sale, the vice president now directly owns 12,644 shares in the company, valued at $408,274.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.60% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of TRTN. Geode Capital Management LLC boosted its position in Triton International by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 603,201 shares of the company’s stock worth $18,741,000 after purchasing an additional 45,403 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Triton International by 280.8% during the first quarter. BNP Paribas Arbitrage SA now owns 12,106 shares of the company’s stock worth $376,000 after purchasing an additional 8,927 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Triton International by 6.0% during the first quarter. Janney Montgomery Scott LLC now owns 27,315 shares of the company’s stock worth $850,000 after purchasing an additional 1,556 shares in the last quarter. Victory Capital Management Inc. boosted its position in Triton International by 646.9% during the first quarter. Victory Capital Management Inc. now owns 36,443 shares of the company’s stock worth $1,133,000 after purchasing an additional 31,564 shares in the last quarter. Finally, Raymond James & Associates boosted its position in Triton International by 3.6% during the first quarter. Raymond James & Associates now owns 63,010 shares of the company’s stock worth $1,960,000 after purchasing an additional 2,195 shares in the last quarter. Institutional investors own 59.32% of the company’s stock.
A number of analysts recently weighed in on the company. Compass Point set a $38.00 price target on Triton International and gave the company a “buy” rating in a research note on Friday, July 26th. ValuEngine upgraded Triton International from a “strong sell” rating to a “sell” rating in a research note on Monday, August 26th. Finally, TheStreet upgraded Triton International from a “d-” rating to a “c” rating in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.25.
About Triton International
Triton International Limited engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal transportation equipment to shipping lines, and freight forwarding companies and manufacturers. It operates in two segments, Equipment Leasing and Equipment Trading. The company primarily leases dry, refrigerated, special, and tank containers; and chassis used for the transportation of intermodal containers, as well as provides container management services.
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