Trinity Industries (TRN) Given Buy Rating at Stifel Nicolaus
Trinity Industries (NYSE:TRN)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a research note issued on Friday. They presently have a $43.00 target price on the transportation company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 15.37% from the company’s current price.
A number of other analysts also recently weighed in on TRN. Zacks Investment Research downgraded Trinity Industries from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. BidaskClub upgraded Trinity Industries from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Cowen reiterated a “buy” rating and set a $31.00 price target on shares of Trinity Industries in a report on Monday, August 28th. ValuEngine upgraded Trinity Industries from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Citigroup upgraded Trinity Industries from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $45.00 to $36.00 in a report on Friday, September 29th. One research 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. The company presently has a consensus rating of “Buy” and an average price target of $35.25.
Shares of Trinity Industries (NYSE:TRN) traded down $0.20 during trading on Friday, reaching $37.27. The company’s stock had a trading volume of 542,746 shares, compared to its average volume of 1,714,196. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.62 and a current ratio of 3.70. Trinity Industries has a 52-week low of $25.01 and a 52-week high of $38.25. The firm has a market cap of $5,687.33, a P/E ratio of 24.85, a P/E/G ratio of 2.52 and a beta of 2.26.
Trinity Industries announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, major shareholder Valueact Capital Master Fund, bought 832,600 shares of Trinity Industries stock in a transaction dated Monday, October 30th. The stock was bought at an average cost of $31.68 per share, for a total transaction of $26,376,768.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Holdings L.P. Valueact purchased 300,000 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were bought at an average price of $31.45 per share, with a total value of $9,435,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,722,237 shares of company stock valued at $55,164,869. 2.00% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Atlantic Trust Group LLC acquired a new position in Trinity Industries during the 2nd quarter valued at about $618,000. Cipher Capital LP acquired a new position in Trinity Industries during the 3rd quarter valued at about $816,000. Chesapeake Asset Management LLC boosted its stake in Trinity Industries by 95.9% during the 3rd quarter. Chesapeake Asset Management LLC now owns 54,497 shares of the transportation company’s stock valued at $1,738,000 after purchasing an additional 26,682 shares during the last quarter. Zuckerman Investment Group LLC boosted its stake in Trinity Industries by 111.4% during the 3rd quarter. Zuckerman Investment Group LLC now owns 329,933 shares of the transportation company’s stock valued at $10,525,000 after purchasing an additional 173,883 shares during the last quarter. Finally, Harris Associates L P acquired a new position in Trinity Industries during the 2nd quarter valued at about $1,927,000. Institutional investors and hedge funds own 82.16% 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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