Trinity Industries (TRN) Price Target Raised to $46.00 at Cowen
Trinity Industries (NYSE:TRN) had its price objective boosted by investment analysts at Cowen from $36.00 to $46.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has an “outperform” rating on the transportation company’s stock. Cowen’s price objective would indicate a potential upside of 24.73% from the company’s previous close.
A number of other equities research analysts also recently issued reports on the company. Citigroup raised Trinity Industries from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $45.00 to $36.00 in a research report on Friday, September 29th. Zacks Investment Research downgraded Trinity Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Susquehanna Bancshares raised Trinity Industries from a “neutral” rating to a “positive” rating in a research report on Monday, November 6th. ValuEngine downgraded Trinity Industries from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Stifel Nicolaus reduced their price target on Trinity Industries from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $35.00.
Trinity Industries (NYSE:TRN) opened at $36.88 on Wednesday. Trinity Industries has a 12-month low of $25.01 and a 12-month high of $37.45. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.70 and a quick ratio of 2.62. The company has a market capitalization of $5,433.85, a P/E ratio of 23.87, a PEG ratio of 2.40 and a beta of 2.26.
Trinity Industries (NYSE:TRN) last posted its earnings results on Wednesday, October 25th. The transportation company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.32 by $0.11. Trinity Industries had a return on equity of 5.32% and a net margin of 5.97%. The company had revenue of $973.60 million for the quarter, compared to the consensus estimate of $951.60 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. sell-side analysts expect that Trinity Industries will post 1.49 EPS for the current fiscal year.
In other Trinity Industries news, major shareholder Holdings L.P. Valueact bought 300,000 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was purchased at an average cost of $31.45 per share, for a total transaction of $9,435,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Valueact Capital Master Fund, bought 425,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were acquired at an average price of $32.88 per share, with a total value of $13,974,000.00. The disclosure for this purchase can be found here. Insiders have purchased 1,722,237 shares of company stock worth $55,164,869 in the last three months. 2.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ValueAct Holdings L.P. lifted its stake in Trinity Industries by 10.7% during the third quarter. ValueAct Holdings L.P. now owns 17,255,115 shares of the transportation company’s stock worth $550,438,000 after purchasing an additional 1,672,510 shares during the last quarter. Vanguard Group Inc. lifted its stake in Trinity Industries by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 12,462,892 shares of the transportation company’s stock worth $299,359,000 after purchasing an additional 771,494 shares during the last quarter. D.C. Capital Advisors Ltd lifted its stake in shares of Trinity Industries by 1,900.0% in the 2nd quarter. D.C. Capital Advisors Ltd now owns 5,000,000 shares of the transportation company’s stock valued at $9,285,000 after acquiring an additional 4,750,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Trinity Industries by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,934,005 shares of the transportation company’s stock valued at $130,998,000 after acquiring an additional 24,412 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. lifted its stake in shares of Trinity Industries by 0.7% in the 1st quarter. BlackRock Institutional Trust Company N.A. now owns 4,644,976 shares of the transportation company’s stock valued at $85,050,000 after acquiring an additional 30,402 shares during the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.
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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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