Trinity Industries (NYSE:TRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The firm currently has a $38.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.13% from the stock’s current price.
According to Zacks, “Trinity Industries, Inc., is a diversified industrial company that owns complementary market-leading businesses providing products and services to the energy, chemical, agriculture, transportation, and construction sectors, among others. The company, Trinity Industries, Inc., operates in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment Group. Trinity is engaged in the manufacture, marketing, and leasing of a wide variety of products. Trinity Industries, Inc., is traded on the New York Stock Exchange under the symbol TRN. The company is headquartered is Dallas, Texas. “
A number of other equities analysts have also recently issued reports on the stock. Susquehanna Bancshares upgraded shares of Trinity Industries from a “neutral” rating to a “positive” rating in a research report on Monday, November 6th. Stifel Nicolaus decreased their price objective on shares of Trinity Industries from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. ValuEngine upgraded shares of Trinity Industries from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Seaport Global Securities assumed coverage on shares of Trinity Industries in a research report on Thursday, January 4th. They issued a “neutral” rating on the stock. Finally, Cowen restated a “buy” rating and issued a $39.00 price objective (up previously from $31.00) on shares of Trinity Industries in a research report on Tuesday, October 17th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Trinity Industries has a consensus rating of “Buy” and a consensus price target of $35.75.
Trinity Industries declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other Trinity Industries news, major shareholder Holdings L.P. Valueact acquired 125,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were acquired at an average price of $32.89 per share, for a total transaction of $4,111,250.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Valueact Capital Master Fund, acquired 25,950 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was acquired at an average price of $31.99 per share, for a total transaction of $830,140.50. The disclosure for this purchase can be found here. Insiders have purchased 575,950 shares of company stock worth $18,915,391 in the last quarter. 2.00% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. ValueAct Holdings L.P. grew its holdings in Trinity Industries by 10.7% in 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 period. Cipher Capital LP purchased a new stake in Trinity Industries in the third quarter worth about $816,000. Chesapeake Asset Management LLC grew its holdings in Trinity Industries by 95.9% in the third quarter. Chesapeake Asset Management LLC now owns 54,497 shares of the transportation company’s stock worth $1,738,000 after purchasing an additional 26,682 shares during the period. Zuckerman Investment Group LLC grew its holdings in Trinity Industries by 111.4% in the third quarter. Zuckerman Investment Group LLC now owns 329,933 shares of the transportation company’s stock worth $10,525,000 after purchasing an additional 173,883 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Trinity Industries by 10.0% in the third quarter. Mackenzie Financial Corp now owns 111,265 shares of the transportation company’s stock worth $3,549,000 after purchasing an additional 10,115 shares during the period. Institutional investors and hedge funds own 82.46% of the company’s stock.
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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.
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