Trinity Industries, Inc. (NYSE:TRN) Price Target Increased to $31.00 by Analysts at Cowen and Company
Trinity Industries, Inc. (NYSE:TRN) had its price objective hoisted by equities researchers at Cowen and Company from $30.00 to $31.00 in a report released on Thursday. The firm presently has an “outperform” rating on the transportation company’s stock. Cowen and Company’s target price indicates a potential upside of 14.99% from the company’s previous close.
TRN has been the subject of a number of other research reports. Axiom Securities restated a “sell” rating on shares of Trinity Industries in a research note on Wednesday. BidaskClub lowered Trinity Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Buckingham Research assumed coverage on Trinity Industries in a research note on Wednesday, June 21st. They issued a “buy” rating and a $32.00 target price for the company. Zacks Investment Research upgraded Trinity Industries from a “sell” rating to a “hold” rating and set a $31.00 target price for the company in a research note on Wednesday, July 19th. Finally, Stifel Nicolaus upgraded Trinity Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $29.00 to $31.00 in a research note on Thursday. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $26.78.
Trinity Industries (NYSE TRN) traded up 1.85% on Thursday, hitting $27.46. The stock had a trading volume of 838,999 shares. The company has a 50-day moving average price of $27.33 and a 200 day moving average price of $27.07. The firm has a market cap of $4.18 billion, a PE ratio of 14.39 and a beta of 2.19. Trinity Industries has a 52-week low of $20.80 and a 52-week high of $30.13.
Trinity Industries (NYSE:TRN) last issued its earnings results on Tuesday, July 25th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The company had revenue of $905.50 million during the quarter, compared to analyst estimates of $947.40 million. Trinity Industries had a return on equity of 5.75% and a net margin of 6.20%. The firm’s quarterly revenue was down 23.6% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. Equities analysts forecast that Trinity Industries will post $1.17 earnings per share for the current fiscal year.
In other news, insider D Stephen Menzies sold 27,742 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $26.11, for a total transaction of $724,343.62. Following the sale, the insider now directly owns 236,707 shares in the company, valued at approximately $6,180,419.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of TRN. BNP Paribas Arbitrage SA boosted its stake in Trinity Industries by 7.6% in the first quarter. BNP Paribas Arbitrage SA now owns 218,627 shares of the transportation company’s stock worth $5,805,000 after buying an additional 15,523 shares during the period. Norges Bank acquired a new stake in Trinity Industries during the fourth quarter worth approximately $33,224,000. Swiss National Bank boosted its stake in Trinity Industries by 0.6% in the first quarter. Swiss National Bank now owns 251,900 shares of the transportation company’s stock worth $6,688,000 after buying an additional 1,400 shares during the period. Creative Planning boosted its stake in Trinity Industries by 4.0% in the first quarter. Creative Planning now owns 17,395 shares of the transportation company’s stock worth $462,000 after buying an additional 663 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in Trinity Industries by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 38,400 shares of the transportation company’s stock worth $1,020,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 80.63% of the company’s stock.
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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