Trinity Industries Inc. (TRN) Earns “Buy” Rating from KeyCorp
“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.”,” KeyCorp’s analyst wrote.
Several other analysts have also commented on the stock. Longbow Research lowered shares of Trinity Industries from a buy rating to a neutral rating in a research report on Monday, June 20th. Wells Fargo & Co. reiterated a hold rating on shares of Trinity Industries in a research report on Wednesday, June 22nd. Zacks Investment Research upgraded shares of Trinity Industries from a hold rating to a buy rating and set a $19.00 price target on the stock in a research report on Tuesday, June 28th. Cowen and Company increased their price target on shares of Trinity Industries from $22.00 to $24.00 and gave the company an outperform rating in a research report on Monday, July 25th. Finally, Susquehanna lowered shares of Trinity Industries from a positive rating to a neutral rating and increased their price target for the company from $23.00 to $24.00 in a research report on Monday, July 25th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Trinity Industries presently has a consensus rating of Hold and an average target price of €21.11 ($23.46).
Shares of Trinity Industries (NYSE:TRN) opened at 24.78 on Monday. The company has a 50-day moving average of $24.16 and a 200 day moving average of $20.59. Trinity Industries has a 12-month low of $14.94 and a 12-month high of $30.38. The firm has a market cap of $3.78 billion, a P/E ratio of 6.40 and a beta of 2.16.
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 consensus estimate of $0.48 by $0.14. Trinity Industries had a net margin of 10.91% and a return on equity of 14.62%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the business posted $1.33 earnings per share. Equities research analysts anticipate that Trinity Industries will post $2.20 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Wednesday, October 12th. Trinity Industries’s dividend payout ratio is currently 11.37%.
Institutional investors have recently bought and sold shares of the company. BlackRock Group LTD increased its position in Trinity Industries by 8.0% in the first quarter. BlackRock Group LTD now owns 197,562 shares of the company’s stock worth $3,616,000 after buying an additional 14,572 shares in the last quarter. State Street Corp increased its position in Trinity Industries by 1.7% in the first quarter. State Street Corp now owns 4,002,036 shares of the company’s stock worth $73,280,000 after buying an additional 68,123 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Trinity Industries by 145.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 370,324 shares of the company’s stock worth $6,781,000 after buying an additional 219,493 shares in the last quarter. Mason Street Advisors LLC bought a new position in Trinity Industries during the second quarter worth $1,277,000. Finally, BlackRock Institutional Trust Company N.A. increased its position in Trinity Industries by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,644,976 shares of the company’s stock worth $85,050,000 after buying an additional 30,402 shares in the last quarter. 72.15% of the stock is currently owned by institutional investors.
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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