Trinity Industries Upgraded to “Buy” at Stifel Nicolaus (TRN)
Trinity Industries (NYSE:TRN) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $67.00 price objective on the stock. Stifel Nicolaus’ target price points to a potential upside of 15.76% from the stock’s previous close.
The analysts wrote, “Railcar unit production should be significantly higher in 2014 relative to 2013 following increases in production rates in mid-to-late 2013 that should continue into 2014,” the report noted. “In light of the capacity demonstrated by the company’s implied 4Q13 delivery guidance (7,000-7,500) and the company’s robust backlog, we believe it is reasonable to assume that 2014 deliveries should ramp from the 6,200 +/- 1Q14 deliveries to a delivery number that is closer to 7,000 in 2Q14-4Q14. That order pattern would lead to a full-year delivery number of 27,200 or y/y growth in deliveries of about 12%.” Some highlights from the report included: -”We believe the company’s fundamentals remain strong in the areas of tank barge construction and tank container construction.”-”The company is well capitalized in our view with liquidity of $1.2 billion at the end of 3Q13.”
Separately, analysts at Raymond James downgraded shares of Trinity Industries from an “outperform” rating to an “underperform” rating in a research note to investors on Thursday, November 21st. They now have a $53.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $50.22.
Trinity Industries (NYSE:TRN) traded up 2.14% on Thursday, hitting $57.88. 1,732,024 shares of the company’s stock traded hands. Trinity Industries has a one year low of $34.57 and a one year high of $58.44. The stock has a 50-day moving average of $53.66 and a 200-day moving average of $46.47. The company has a market cap of $4.520 billion and a P/E ratio of 13.45.
Trinity Industries (NYSE:TRN) last released its earnings data on Wednesday, October 30th. The company reported $1.26 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.16 by $0.10. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 22.4% on a year-over-year basis. On average, analysts predict that Trinity Industries will post $4.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Monday, January 13th.
Trinity Industries, Inc (NYSE:TRN) is a multi-industry company, which owns a range of businesses, which provides products and services to the industrial, energy, transportation, and construction sectors.
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