Trinity Industries, Inc. (TRN) Lowered to Hold at Zacks Investment Research
Trinity Industries, Inc. (NYSE:TRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Trinity Industries, Inc. is engaged in the manufacture, marketing, and leasing of a wide variety of products consisting of the following business segments or groups: Railcar Group, Inland Barge Group, Parts and Services Group, Highway Construction Product Group, Concrete & Aggregate Group, Industrial Group, and others. Others includes transportation services, the company’s captive insurance company, and other peripheral businesses. “
Several other brokerages have also recently issued reports on TRN. Cowen and Company lifted their price target on Trinity Industries from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. ValuEngine upgraded Trinity Industries from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Axiom Securities reiterated a “sell” rating on shares of Trinity Industries in a research report on Thursday, July 13th. BidaskClub upgraded Trinity Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. Finally, Stifel Nicolaus upgraded Trinity Industries from a “hold” rating to a “buy” rating and lifted their price target for the company from $29.00 to $31.00 in a research report on Thursday, July 27th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $26.78.
Shares of Trinity Industries (TRN) opened at 28.67 on Wednesday. The firm’s 50-day moving average price is $27.94 and its 200-day moving average price is $27.06. Trinity Industries has a 52-week low of $20.80 and a 52-week high of $30.13. The stock has a market capitalization of $4.34 billion, a P/E ratio of 17.62 and a beta of 2.18.
Trinity Industries (NYSE:TRN) last issued its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. Trinity Industries had a return on equity of 5.75% and a net margin of 6.20%. The company had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $947.40 million. During the same period last year, the firm earned $0.62 EPS. The firm’s revenue for the quarter was down 23.6% on a year-over-year basis. Equities analysts forecast that Trinity Industries will post $1.25 earnings per share for the current fiscal year.
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In related news, major shareholder Holdings L.P. Valueact acquired 7,114 shares of Trinity Industries stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average cost of $28.50 per share, with a total value of $202,749.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Valueact Capital Master Fund, acquired 202,500 shares of Trinity Industries stock in a transaction dated Friday, August 11th. The shares were bought at an average cost of $28.47 per share, with a total value of $5,765,175.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 623,528 shares of company stock valued at $17,448,997. Corporate insiders own 2.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Greenwood Gearhart Inc. raised its stake in Trinity Industries by 2.5% in the second quarter. Greenwood Gearhart Inc. now owns 149,800 shares of the transportation company’s stock valued at $4,199,000 after buying an additional 3,590 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in Trinity Industries by 1.1% in the second quarter. Ameritas Investment Partners Inc. now owns 62,738 shares of the transportation company’s stock valued at $1,758,000 after buying an additional 675 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Trinity Industries by 7.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,037 shares of the transportation company’s stock valued at $281,000 after buying an additional 704 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Trinity Industries by 4,963.0% in the second quarter. Tower Research Capital LLC TRC now owns 12,860 shares of the transportation company’s stock valued at $360,000 after buying an additional 12,606 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Trinity Industries by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 223,993 shares of the transportation company’s stock valued at $6,279,000 after buying an additional 3,816 shares in the last quarter. 80.99% of the stock is owned by institutional investors and hedge funds.
Trinity Industries Company Profile
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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