Triton International Limited (NYSE:TRTN) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 1,200,000 shares, an increase of 25.9% from the September 15th total of 952,800 shares. Based on an average daily volume of 655,900 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.8% of the shares of the stock are sold short.
Several equities research analysts recently weighed in on TRTN shares. BofA Securities raised Triton International from an “underperform” rating to a “buy” rating and raised their price objective for the company from $30.00 to $39.00 in a report on Friday, July 24th. Bank of America raised their target price on Triton International from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, September 16th. ValuEngine raised Triton International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 16th. Finally, Zacks Investment Research raised Triton International from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Thursday, August 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Triton International presently has an average rating of “Buy” and an average price target of $41.00.
In related news, EVP John F. O’callaghan sold 30,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $39.00, for a total transaction of $1,170,000.00. Following the sale, the executive vice president now owns 111,161 shares of the company’s stock, valued at approximately $4,335,279. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vestar/Triton Investments Iii, sold 10,706,982 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $37.62, for a total value of $402,796,662.84. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in Triton International by 26.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 18,534 shares of the company’s stock valued at $479,000 after buying an additional 3,906 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Triton International by 6.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 85,751 shares of the company’s stock valued at $2,218,000 after buying an additional 5,304 shares in the last quarter. Deutsche Bank AG increased its position in Triton International by 11.7% in the 1st quarter. Deutsche Bank AG now owns 35,733 shares of the company’s stock valued at $924,000 after buying an additional 3,754 shares in the last quarter. Legal & General Group Plc increased its position in Triton International by 28.3% in the 1st quarter. Legal & General Group Plc now owns 48,930 shares of the company’s stock valued at $1,266,000 after buying an additional 10,782 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Triton International by 4.5% in the 1st quarter. Geode Capital Management LLC now owns 719,447 shares of the company’s stock valued at $18,612,000 after buying an additional 31,140 shares in the last quarter. 65.51% of the stock is owned by hedge funds and other institutional investors.
NYSE:TRTN traded down $0.13 during trading hours on Friday, hitting $36.96. 440,893 shares of the company were exchanged, compared to its average volume of 485,268. The company has a fifty day simple moving average of $37.88 and a 200 day simple moving average of $32.22. Triton International has a one year low of $19.80 and a one year high of $41.54. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 3.36. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.91 and a beta of 2.07.
Triton International (NYSE:TRTN) last posted its quarterly earnings data on Friday, July 24th. The company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.03). Triton International had a return on equity of 15.53% and a net margin of 24.21%. The business had revenue of $321.40 million during the quarter, compared to the consensus estimate of $312.72 million. During the same period last year, the business posted $1.15 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. Equities research analysts predict that Triton International will post 4 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend was Wednesday, September 9th. Triton International’s dividend payout ratio (DPR) is presently 45.51%.
Triton International Company Profile
Triton International Limited engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal containers and chassis to shipping lines, and freight forwarding companies and manufacturers. It operates in two segments, Equipment Leasing and Equipment Trading. The company primarily leases dry, refrigerated, special, and tank containers; and chassis used for the transportation of intermodal containers, as well as provides maritime container management services.
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