Trinity Industries Inc. (TRN) Shares Up 2.1%
Shares of Trinity Industries Inc. (NYSE:TRN) shot up 2.1% on Thursday . The stock traded as high as $19.34 and last traded at $19.10, with a volume of 735,213 shares trading hands. The stock had previously closed at $18.71.
Several research firms have weighed in on TRN. Cowen and Company reiterated an “outperform” rating and set a $22.00 target price (up previously from $21.00) on shares of Trinity Industries in a research note on Monday, April 25th. Stifel Nicolaus lowered shares of Trinity Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, April 19th. They noted that the move was a valuation call. Vetr lowered shares of Trinity Industries from a “hold” rating to a “strong sell” rating and set a $16.00 price target for the company. in a research report on Tuesday, April 12th. Wells Fargo & Co. restated a “hold” rating on shares of Trinity Industries in a research report on Wednesday, June 22nd. Finally, Longbow Research lowered shares of Trinity Industries from a “buy” rating to a “neutral” rating in a research report on Monday, June 20th. Three research analysts have rated the stock with a sell rating, five have assigned 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 €19.14 ($21.27).
The company has a market capitalization of $2.97 billion and a PE ratio of 4.29. The stock’s 50-day moving average price is $18.39 and its 200 day moving average price is $19.22.
Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Thursday, April 21st. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.70 by $0.06. The firm earned $1.19 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the company earned $1.13 earnings per share. The company’s revenue for the quarter was down 27.0% compared to the same quarter last year. Equities research analysts forecast that Trinity Industries Inc. will post $2.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be given a $0.11 dividend. The ex-dividend date is Wednesday, July 13th. This represents a $0.44 annualized dividend and a dividend yield of 2.23%.
A number of hedge funds and institutional investors have recently modified their holdings of TRN. Trexquant Investment LP purchased a new position in shares of Trinity Industries during the fourth quarter valued at approximately $1,081,000. GSA Capital Partners LLP purchased a new position in shares of Trinity Industries during the fourth quarter valued at approximately $1,105,000. Oppenheimer & Co. Inc. boosted its position in shares of Trinity Industries by 112.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 55,724 shares of the company’s stock valued at $1,339,000 after buying an additional 29,486 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its position in shares of Trinity Industries by 51.2% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 99,550 shares of the company’s stock valued at $2,392,000 after buying an additional 33,715 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Trinity Industries by 106.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 103,321 shares of the company’s stock valued at $2,482,000 after buying an additional 53,340 shares during the period.
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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