Trinity Industries Inc. (TRN) Stock Price Up 9.8%
Trinity Industries Inc. (NYSE:TRN)’s share price rose 9.8% during trading 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.
TRN has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Trinity Industries from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Tuesday, June 28th. TheStreet upgraded shares of Trinity Industries from a “hold” rating to a “buy” rating in a research note on Wednesday. Stifel Nicolaus downgraded shares of Trinity Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, April 19th. They noted that the move was a valuation call. Wells Fargo & Co. restated a “hold” rating on shares of Trinity Industries in a research note on Wednesday, June 22nd. Finally, Longbow Research downgraded shares of Trinity Industries from a “buy” rating to a “neutral” rating in a research note on Monday, June 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of €20.00 ($22.22).
The firm’s 50-day moving average is $19.68 and its 200-day moving average is $19.01. The company has a market cap of $3.54 billion and a PE ratio of 6.00.
Trinity Industries (NYSE:TRN) last posted its 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 firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the company posted $1.33 EPS. Equities analysts anticipate that Trinity Industries Inc. will post $2.22 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, July 13th.
Other hedge funds have recently bought and sold shares of the company. Trexquant Investment LP purchased a new stake in Trinity Industries during the fourth quarter worth $1,081,000. GSA Capital Partners LLP purchased a new stake in Trinity Industries during the fourth quarter worth $1,105,000. Airain ltd purchased a new stake in Trinity Industries during the fourth quarter worth $2,078,000. BNP Paribas Arbitrage SA raised its stake in 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 period. Finally, Mutual of America Capital Management LLC raised its stake in Trinity Industries by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 103,766 shares of the company’s stock worth $2,492,000 after buying an additional 573 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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