Trinity Industries (NYSE:TRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, May 3rd. The brokerage presently has a $36.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 0.06% from the company’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. “
Several other analysts have also issued reports on TRN. Seaport Global Securities initiated coverage on Trinity Industries in a research note on Thursday, January 4th. They issued a “neutral” rating for the company. ValuEngine raised Trinity Industries from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Stifel Nicolaus set a $40.00 price objective on Trinity Industries and gave the company a “buy” rating in a research note on Friday, February 9th. Wells Fargo raised Trinity Industries from a “market perform” rating to an “outperform” rating and set a $53.00 price objective for the company in a research note on Friday, February 16th. Finally, Susquehanna Bancshares upped their target price on Trinity Industries from $40.00 to $52.00 and gave the company a “positive” rating in a report on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. Trinity Industries has an average rating of “Buy” and a consensus price target of $35.83.
Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Wednesday, April 25th. The transportation company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The company had revenue of $831.30 million for the quarter, compared to analysts’ expectations of $893.58 million. Trinity Industries had a net margin of 19.26% and a return on equity of 5.28%. Trinity Industries’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. sell-side analysts predict that Trinity Industries will post 1.37 earnings per share for the current fiscal year.
In related news, major shareholder Valueact Capital Master Fund, acquired 900,000 shares of the stock in a transaction dated Monday, March 19th. The shares were purchased at an average cost of $32.77 per share, with a total value of $29,493,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Holdings L.P. Valueact acquired 350,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost of $32.85 per share, for a total transaction of $11,497,500.00. The disclosure for this purchase can be found here. Insiders have purchased 2,624,387 shares of company stock worth $86,077,631 over the last ninety days. 2.20% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TRN. Creative Planning raised its stake in Trinity Industries by 11.7% during the 4th quarter. Creative Planning now owns 22,260 shares of the transportation company’s stock valued at $834,000 after purchasing an additional 2,328 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Trinity Industries by 5.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 600,019 shares of the transportation company’s stock valued at $22,477,000 after purchasing an additional 32,045 shares during the period. State of Alaska Department of Revenue bought a new stake in Trinity Industries during the 4th quarter valued at approximately $333,000. Steward Partners Investment Advisory LLC raised its stake in Trinity Industries by 48.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,375 shares of the transportation company’s stock valued at $913,000 after purchasing an additional 7,927 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP raised its stake in Trinity Industries by 21.3% during the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 193,680 shares of the transportation company’s stock valued at $7,255,000 after purchasing an additional 34,070 shares during the period. 88.16% of the stock is currently owned by institutional investors.
About Trinity Industries
Trinity Industries, Inc provides various products and services to the energy, chemical, agriculture, transportation, and construction sectors in the United States and internationally. Its Rail Group segment offers railcars, including autorack, box, covered hopper, gondola, intermodal, tank, and open hopper cars; and railcar maintenance services.
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