Cowen and Company Reaffirms Outperform Rating for Triton International Limited (TRTN)
Triton International Limited (NASDAQ:TRTN)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Cowen and Company in a research report issued to clients and investors on Monday. They presently have a $40.00 price target on the stock. Cowen and Company’s price objective would suggest a potential upside of 17.61% from the stock’s current price.
Several other analysts have also recently weighed in on the company. Bank of America Corporation reaffirmed a “buy” rating and issued a $36.00 price target (up previously from $32.00) on shares of Triton International Limited in a report on Monday, May 15th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $28.00 price target on shares of Triton International Limited in a report on Friday, May 12th. Zacks Investment Research raised Triton International Limited from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a report on Friday, April 28th. Finally, SunTrust Banks, Inc. raised their price target on Triton International Limited from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, April 7th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $33.17.
Shares of Triton International Limited (TRTN) traded up 5.36% on Monday, reaching $34.01. The company’s stock had a trading volume of 516,463 shares. Triton International Limited has a 12 month low of $11.50 and a 12 month high of $34.05. The firm’s 50-day moving average price is $29.32 and its 200-day moving average price is $24.61.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 22nd. Investors of record on Thursday, June 1st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.29%.
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In related news, Director Robert W. Alspaugh sold 5,525 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $29.91, for a total transaction of $165,252.75. Following the transaction, the director now directly owns 28,487 shares of the company’s stock, valued at approximately $852,046.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John Burns sold 26,300 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $30.02, for a total value of $789,526.00. Following the transaction, the chief financial officer now directly owns 121,126 shares in the company, valued at $3,636,202.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,825 shares of company stock worth $2,090,959.
Institutional investors have recently made changes to their positions in the stock. Karp Capital Management Corp purchased a new position in shares of Triton International Limited during the first quarter worth $221,000. Russell Investments Group Ltd. purchased a new position in shares of Triton International Limited during the fourth quarter worth $172,000. Tudor Investment Corp ET AL purchased a new position in shares of Triton International Limited during the first quarter worth $329,000. Nisa Investment Advisors LLC purchased a new position in shares of Triton International Limited during the first quarter worth $366,000. Finally, American International Group Inc. boosted its position in shares of 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 buying an additional 5,245 shares in the last quarter.
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