Cowen and Company Boosts Trinity Industries, Inc. (TRN) Price Target to $39.00
Trinity Industries, Inc. (NYSE:TRN) had its target price lifted by analysts at Cowen and Company from $31.00 to $39.00 in a research note issued to investors on Thursday. The firm presently has an “outperform” rating on the transportation company’s stock. Cowen and Company’s target price would indicate a potential upside of 12.46% from the stock’s previous close.
A number of other research firms have also recently commented on TRN. ValuEngine cut Trinity Industries from a “buy” rating to a “hold” rating in a research report on Monday. Stephens reissued an “equal weight” rating and issued a $35.00 price target (up from $29.00) on shares of Trinity Industries in a research note on Tuesday. Stifel Nicolaus reissued a “buy” rating and issued a $42.00 price target (up from $31.00) on shares of Trinity Industries in a research note on Sunday. Buckingham Research raised their price target on Trinity Industries from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday. Finally, KeyCorp reissued a “buy” rating and issued a $41.00 price target (up from $34.00) on shares of Trinity Industries in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $34.25.
Trinity Industries (NYSE:TRN) traded up 1.10% on Thursday, reaching $35.06. 1,146,504 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $29.87 and a 200-day moving average price of $27.72. The company has a market capitalization of $5.31 billion, a PE ratio of 21.55 and a beta of 2.19. Trinity Industries has a 1-year low of $20.80 and a 1-year high of $35.97.
Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $905.50 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. On average, equities research analysts anticipate that Trinity Industries will post $1.23 earnings per share for the current year.
In other news, major shareholder Valueact Capital Master Fund, acquired 5,100 shares of Trinity Industries stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average cost of $28.41 per share, with a total value of $144,891.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Holdings L.P. Valueact acquired 167,395 shares of Trinity Industries stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average cost of $27.51 per share, for a total transaction of $4,605,036.45. The disclosure for this purchase can be found here. Insiders bought a total of 1,709,624 shares of company stock worth $48,298,143 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlantic Trust Group LLC acquired a new position in Trinity Industries during the 2nd quarter worth approximately $618,000. Creative Planning lifted its position in Trinity Industries by 17.0% during the 2nd quarter. Creative Planning now owns 20,344 shares of the transportation company’s stock worth $570,000 after acquiring an additional 2,949 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in Trinity Industries by 0.8% during the 1st quarter. TIAA CREF Investment Management LLC now owns 270,616 shares of the transportation company’s stock worth $7,185,000 after acquiring an additional 2,232 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Trinity Industries during the 1st quarter worth approximately $3,159,000. Finally, Legal & General Group Plc lifted its position in Trinity Industries by 35.4% during the 1st quarter. Legal & General Group Plc now owns 207,410 shares of the transportation company’s stock worth $5,506,000 after acquiring an additional 54,173 shares in the last quarter. 80.82% of the stock is currently owned by institutional investors and hedge funds.
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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