Trinity Industries (NYSE:TRN) Price Target Raised to $34.00

Trinity Industries (NYSE:TRN) had its target price boosted by investment analysts at Susquehanna from $32.00 to $34.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Susquehanna‘s target price would indicate a potential upside of 6.66% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Weiss Ratings cut Trinity Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 22nd. The Goldman Sachs Group set a $30.00 price objective on Trinity Industries in a report on Tuesday, October 20th. Three equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.00.

Trinity Industries Price Performance

TRN opened at $31.88 on Thursday. Trinity Industries has a fifty-two week low of $24.28 and a fifty-two week high of $38.31. The firm has a 50-day moving average of $27.31 and a 200 day moving average of $31.39. The firm has a market cap of $2.49 billion, a P/E ratio of 7.97 and a beta of 1.36. The company has a debt-to-equity ratio of 4.71, a quick ratio of 0.94 and a current ratio of 1.88.

Trinity Industries (NYSE:TRN) last announced its quarterly earnings data on Thursday, October 29th. The transportation company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. Trinity Industries had a return on equity of 18.13% and a net margin of 15.39%. The business had revenue of $535.10 million during the quarter, compared to analyst estimates of $543.36 million. During the same period in the prior year, the company earned $0.38 earnings per share. Trinity Industries’s revenue was up 17.8% compared to the same quarter last year. On average, research analysts expect that Trinity Industries will post 2.30 EPS for the current year.

Insiders Place Their Bets

In other Trinity Industries news, EVP Kevin Poet sold 17,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $29.55, for a total transaction of $502,350.00. Following the sale, the executive vice president owned 69,225 shares of the company’s stock, valued at $2,045,598.75. The trade was a 19.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Trinity Industries

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Trinity Industries by 2.9% in the second quarter. BlackRock Inc. now owns 13,356,707 shares of the transportation company’s stock worth $461,875,000 after acquiring an additional 370,390 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Trinity Industries by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,801,236 shares of the transportation company’s stock valued at $154,500,000 after purchasing an additional 81,263 shares during the period. State Street Corp raised its stake in shares of Trinity Industries by 6.3% during the 2nd quarter. State Street Corp now owns 4,123,807 shares of the transportation company’s stock valued at $142,601,000 after purchasing an additional 245,434 shares during the period. Bank of America Corp DE lifted its holdings in Trinity Industries by 9.2% during the 1st quarter. Bank of America Corp DE now owns 1,089,488 shares of the transportation company’s stock worth $35,060,000 after purchasing an additional 91,964 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Trinity Industries by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 890,037 shares of the transportation company’s stock worth $30,777,000 after purchasing an additional 3,568 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Trinity Industries Company Profile

Trinity Industries, Inc is a North American industrial company focused primarily on rail transportation products and services. Through its TrinityRail business, the company designs and manufactures freight railcars, including covered hoppers, gondolas, tank cars and other specialized rail equipment used to transport commodities and industrial goods.

TrinityRail also provides railcar leasing, fleet management, maintenance and refurbishment services. These offerings support railroads, shippers and other fleet owners throughout the life cycle of their equipment, from initial design and production to ongoing maintenance and compliance services.

Founded in 1933 and headquartered in Dallas, Texas, Trinity Industries has historically operated across several industrial and infrastructure markets, but has increasingly concentrated on its rail platform.