Trinity Industries, Inc. (TRN) Stock Rating Lowered by Zacks Investment Research
Trinity Industries, Inc. (NYSE:TRN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Saturday.
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. “
A number of other equities research analysts also recently weighed in on the company. BidaskClub raised Trinity Industries from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Buckingham Research initiated coverage on Trinity Industries in a research report on Wednesday, June 21st. They set a “buy” rating and a $32.00 price objective on the stock. Cowen and Company reaffirmed a “buy” rating and set a $31.00 price objective on shares of Trinity Industries in a research report on Monday, August 28th. ValuEngine raised Trinity Industries from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Axiom Securities reaffirmed a “sell” rating and set a $11.00 price objective on shares of Trinity Industries in a research report on Friday, June 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.89.
Trinity Industries (TRN) opened at 29.56 on Friday. Trinity Industries has a 52-week low of $20.80 and a 52-week high of $30.13. The stock has a 50 day moving average price of $28.62 and a 200 day moving average price of $27.25. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 18.17 and a beta of 2.18.
Trinity Industries (NYSE:TRN) last posted its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Trinity Industries had a return on equity of 5.75% and a net margin of 6.20%. The business had revenue of $905.50 million for the quarter, compared to the consensus estimate of $947.40 million. During the same quarter in the prior year, the company earned $0.62 EPS. The business’s revenue was down 23.6% compared to the same quarter last year. Analysts expect that Trinity Industries will post $1.23 EPS for the current fiscal year.
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In other Trinity Industries news, major shareholder Valueact Capital Master Fund, purchased 202,500 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $28.47 per share, with a total value of $5,765,175.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings L.P. Valueact purchased 167,395 shares of the stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $27.51 per share, with a total value of $4,605,036.45. The disclosure for this purchase can be found here. In the last three months, insiders acquired 1,709,624 shares of company stock valued at $48,298,143. Corporate insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. First Mercantile Trust Co. boosted its holdings in Trinity Industries by 10.9% in the second quarter. First Mercantile Trust Co. now owns 5,800 shares of the transportation company’s stock worth $163,000 after acquiring an additional 570 shares in the last quarter. Invictus RG boosted its holdings in Trinity Industries by 466.4% in the first quarter. Invictus RG now owns 6,406 shares of the transportation company’s stock worth $170,000 after acquiring an additional 5,275 shares in the last quarter. Pacad Investment Ltd. boosted its holdings in Trinity Industries by 36.5% in the second quarter. Pacad Investment Ltd. now owns 7,100 shares of the transportation company’s stock worth $199,000 after acquiring an additional 1,900 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in Trinity Industries in the second quarter worth about $205,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Trinity Industries in the second quarter worth about $208,000. 80.92% 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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