Investment analysts at Seaport Global Securities initiated coverage on shares of Trinity Industries (NYSE:TRN) in a report released on Thursday, The Fly reports. The brokerage set a “neutral” rating on the transportation company’s stock.
Several other research firms also recently weighed in on TRN. Cowen lifted their target price on Trinity Industries from $36.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, December 13th. Zacks Investment Research downgraded Trinity Industries from a “buy” rating to a “hold” rating in a research report on Saturday, September 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $42.00 target price (up from $31.00) on shares of Trinity Industries in a research report on Sunday, October 1st. UBS Group upgraded Trinity Industries from a “neutral” rating to a “positive” rating in a research report on Monday, November 6th. Finally, KeyCorp reiterated a “buy” rating and set a $41.00 target price (up from $34.00) on shares of Trinity Industries in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Trinity Industries has an average rating of “Buy” and an average target price of $36.25.
Trinity Industries (NYSE:TRN) opened at $37.58 on Thursday. The firm has a market capitalization of $5,728.31, a price-to-earnings ratio of 25.16, a P/E/G ratio of 2.80 and a beta of 2.27. The company has a current ratio of 3.70, a quick ratio of 2.62 and a debt-to-equity ratio of 0.75. Trinity Industries has a 52-week low of $25.01 and a 52-week high of $38.25.
Trinity Industries (NYSE:TRN) last released its earnings results on Wednesday, October 25th. The transportation company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.11. The company had revenue of $973.60 million for the quarter, compared to the consensus estimate of $951.60 million. Trinity Industries had a return on equity of 5.32% and a net margin of 5.97%. Trinity Industries’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. equities analysts anticipate that Trinity Industries will post 1.49 EPS for the current fiscal year.
Trinity Industries declared that its Board of Directors has approved a stock buyback plan on Tuesday, December 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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 shares were purchased at an average cost of $31.68 per share, with a total value of $26,376,768.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings L.P. Valueact bought 300,000 shares of Trinity Industries stock in a transaction dated 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 disclosure for this purchase can be found here. Insiders bought 1,722,237 shares of company stock worth $55,164,869 over the last 90 days. Company insiders own 2.00% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Ancora Advisors LLC bought a new stake in shares of Trinity Industries in the fourth quarter worth about $139,000. First Mercantile Trust Co. bought a new stake in Trinity Industries during the first quarter worth approximately $139,000. TCI Wealth Advisors Inc. increased its stake in Trinity Industries by 0.5% during the third quarter. TCI Wealth Advisors Inc. now owns 5,505 shares of the transportation company’s stock worth $133,000 after acquiring an additional 27 shares during the last quarter. Seven Bridges Advisors LLC bought a new stake in Trinity Industries during the third quarter worth approximately $138,000. Finally, MU Investments Co. Ltd. bought a new stake in Trinity Industries during the second quarter worth approximately $112,000. 82.16% of the stock is currently owned by hedge funds and other institutional investors.
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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.