Trinity Industries, Inc. (TRN) Cut to “Hold” at Zacks Investment Research
Trinity Industries, Inc. (NYSE:TRN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Saturday.
According to Zacks, “Trinity Industries, Inc. is engaged in the manufacture, marketing, and leasing of a wide variety of products consisting of the following business segments or groups: Railcar Group, Inland Barge Group, Parts and Services Group, Highway Construction Product Group, Concrete & Aggregate Group, Industrial Group, and others. Others includes transportation services, the company’s captive insurance company, and other peripheral businesses. “
A number of other brokerages also recently issued reports on TRN. Axiom Securities restated a “sell” rating on shares of Trinity Industries in a research report on Thursday, July 13th. ValuEngine downgraded Trinity Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. TheStreet upgraded Trinity Industries from a “c” rating to a “b-” rating in a research report on Monday, August 14th. Cowen and Company raised their price objective on Trinity Industries from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Finally, BidaskClub downgraded Trinity Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Trinity Industries has a consensus rating of “Hold” and a consensus target price of $26.89.
Shares of Trinity Industries (NYSE:TRN) opened at 29.56 on Friday. Trinity Industries has a 52 week low of $20.80 and a 52 week high of $30.13. The company has a market capitalization of $4.47 billion, a PE ratio of 18.17 and a beta of 2.18. The stock has a 50 day moving average price of $28.62 and a 200-day moving average price of $27.25.
Trinity Industries (NYSE:TRN) last announced its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Trinity Industries had a return on equity of 5.75% and a net margin of 6.20%. The firm had revenue of $905.50 million for the quarter, compared to analyst estimates of $947.40 million. During the same period last year, the firm posted $0.62 earnings per share. The business’s revenue for the quarter was down 23.6% on a year-over-year basis. Equities research analysts expect that Trinity Industries will post $1.23 EPS for the current year.
WARNING: This piece of content was reported by Daily Political and is owned by of Daily Political. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.dailypolitical.com/2017/09/16/trinity-industries-inc-trn-cut-to-hold-at-zacks-investment-research.html.
In other Trinity Industries news, major shareholder Valueact Capital Master Fund, bought 202,500 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $28.47 per share, for a total transaction of $5,765,175.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings L.P. Valueact bought 167,395 shares of the stock in a transaction on Thursday, August 3rd. The stock was acquired at an average price of $27.51 per share, with a total value of $4,605,036.45. The disclosure for this purchase can be found here. Insiders have bought 1,709,624 shares of company stock valued at $48,298,143 over the last 90 days. 2.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Advisory Services Network LLC increased its holdings in Trinity Industries by 47.0% in the second quarter. Advisory Services Network LLC now owns 10,785 shares of the transportation company’s stock worth $302,000 after purchasing an additional 3,450 shares in the last quarter. Greenwood Gearhart Inc. increased its holdings in Trinity Industries by 2.5% in the second quarter. Greenwood Gearhart Inc. now owns 149,800 shares of the transportation company’s stock worth $4,199,000 after purchasing an additional 3,590 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Trinity Industries by 1.1% in the second quarter. Ameritas Investment Partners Inc. now owns 62,738 shares of the transportation company’s stock worth $1,758,000 after purchasing an additional 675 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Trinity Industries by 7.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,037 shares of the transportation company’s stock worth $281,000 after purchasing an additional 704 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Trinity Industries by 4,963.0% in the second quarter. Tower Research Capital LLC TRC now owns 12,860 shares of the transportation company’s stock worth $360,000 after purchasing an additional 12,606 shares in the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.
Trinity Industries Company Profile
Trinity Industries, Inc is a diversified industrial company that owns businesses providing products and services to the energy, chemical, agriculture, transportation 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; construction aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
Receive News & Ratings for Trinity Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trinity Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.