Trinity Industries Inc. (NYSE:TRN)‘s stock had its “buy” rating reissued by investment analysts at KeyCorp in a research note issued on Monday. They currently have a $28.00 price objective on the stock.
The analysts wrote, “We visited TRN’s wind tower facility outside Des Moines, IA. Mgmt gave an informative overview of the competitive environment and showcased initiatives and productivity improvements that solidify TRN’s strong competitive position. We think TRN is the dominant non-captive wind tower OEM and should benefit from the recent PTC extension, improving turbine efficiency and coal plant retirements. Broadly, we think TRN’s diversification and $5.6B backlog provide solid visib. relative to other co’s. Should TRN receive a favorable outcome in ongoing litigation, we think backlog, liquidity and valuation could attract new money.””
TRN has been the subject of several other reports. Wells Fargo & Co. reiterated a “hold” rating and issued a $22.00 target price on shares of Trinity Industries in a report on Monday, September 19th. Zacks Investment Research lowered Trinity Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. TheStreet raised Trinity Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Longbow Research lowered Trinity Industries from a “buy” rating to a “neutral” rating in a research report on Monday, June 20th. Finally, Susquehanna lowered Trinity Industries from a “positive” rating to a “neutral” rating and boosted their price target for the stock from $23.00 to $24.00 in a research report on Monday, July 25th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Trinity Industries has a consensus rating of “Hold” and a consensus price target of €21.11 ($23.46).
Shares of Trinity Industries (NYSE:TRN) traded up 1.08% on Monday, reaching $24.44. The company’s stock had a trading volume of 224,127 shares. The stock has a market cap of $3.72 billion, a PE ratio of 6.31 and a beta of 2.16. Trinity Industries has a 12-month low of $14.94 and a 12-month high of $30.38. The firm has a 50 day moving average price of $24.10 and a 200-day moving average price of $20.45.
Trinity Industries (NYSE:TRN) last issued its earnings results on Thursday, July 21st. The company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.14. Trinity Industries had a return on equity of 14.62% and a net margin of 10.91%. The business earned $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the business earned $1.33 EPS. Equities research analysts expect that Trinity Industries will post $2.20 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 14th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Wednesday, October 12th. Trinity Industries’s dividend payout ratio is presently 11.37%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MU Investments Co. Ltd. purchased a new position in shares of Trinity Industries during the second quarter worth $112,000. Pinkerton Retirement Specialists LLC purchased a new position in shares of Trinity Industries during the second quarter worth $126,000. Advisor Group Inc. purchased a new position in shares of Trinity Industries during the second quarter worth $133,000. Invictus RG purchased a new position in shares of Trinity Industries during the second quarter worth $166,000. Finally, LS Investment Advisors LLC raised its position in shares of Trinity Industries by 71.6% in the second quarter. LS Investment Advisors LLC now owns 9,285 shares of the company’s stock worth $172,000 after buying an additional 3,875 shares in the last quarter. 72.15% of the stock is currently owned by institutional investors and hedge funds.
About Trinity Industries
Trinity Industries, Inc is a diversified industrial company that owns a range of businesses providing products and services to the energy, transportation, chemical 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; aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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