Trinity Industries Inc. (TRN) Shares Up 9.8%
Shares of Trinity Industries Inc. (NYSE:TRN) shot up 9.8% on Friday . The company traded as high as $23.04 and last traded at $23.02, with a volume of 2,980,699 shares. The stock had previously closed at $20.97.
A number of research firms have weighed in on TRN. Zacks Investment Research cut shares of Trinity Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. Axiom Securities restated a “sell” rating on shares of Trinity Industries in a research report on Tuesday, April 12th. TheStreet upgraded shares of Trinity Industries from a “hold” rating to a “buy” rating in a research report on Wednesday. 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. Finally, Vetr lowered shares of Trinity Industries from a “hold” rating to a “strong sell” rating and set a $16.00 target price on the stock. in a research report on Tuesday, April 12th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of €20.00 ($22.22).
The stock has a market cap of $3.54 billion and a PE ratio of 6.00. The firm’s 50-day moving average price is $19.55 and its 200-day moving average price is $18.99.
Trinity Industries (NYSE:TRN) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.14. The company earned $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the company earned $1.33 EPS. Equities research analysts anticipate that Trinity Industries Inc. will post $2.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, July 13th.
Other institutional investors have made changes to their positions in the company. Trexquant Investment LP acquired a new position in shares of Trinity Industries during the fourth quarter worth about $1,081,000. GSA Capital Partners LLP acquired a new position in shares of Trinity Industries during the fourth quarter worth about $1,105,000. Airain ltd acquired a new position in shares of Trinity Industries during the fourth quarter worth about $2,078,000. Liberty Mutual Group Asset Management Inc. raised 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 worth $2,392,000 after buying an additional 33,715 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised 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 worth $2,482,000 after buying an additional 53,340 shares during the last quarter.
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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