Triton International (TRTN) Earns Buy Rating from Zacks Investment Research
Zacks Investment Research restated their buy rating on shares of Triton International (NYSE:TRTN) in a research report released on Saturday morning. They currently have a $39.00 target price on the stock.
According to Zacks, “Triton International performed impressively in the third quarter of 2018 reporting better-than-expected earnings and revenues. Moreover, both the measures improved on a year over year basis. Results benefited from lower tax rates and growth in operating lease revenues. The company is anticipated to perform well in the fourth quarter as well on the back of tight supply/demand conditions for containers. The Zacks Consensus Estimated for current-year earnings has improved 1.4% over the last 60 days. This reflects the positivity surrounding the stock. However, the tariff exchanges between United States and China has created market uncertainty. It remains to be seen how this affects container trading volumes. Moreover, Triton is a highly leveraged company. “
TRTN has been the topic of a number of other reports. Bank of America cut their price objective on shares of Triton International from $41.00 to $38.00 and set a buy rating on the stock in a report on Wednesday, October 10th. Wells Fargo & Co downgraded shares of Triton International from an outperform rating to a market perform rating and set a $35.00 price objective on the stock. in a report on Friday, September 28th. ValuEngine downgraded shares of Triton International from a sell rating to a strong sell rating in a report on Tuesday, October 2nd. Keefe, Bruyette & Woods raised shares of Triton International from a market perform rating to an outperform rating in a report on Thursday, September 6th. Finally, Compass Point reaffirmed a buy rating and set a $42.00 price objective on shares of Triton International in a report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Triton International presently has a consensus rating of Buy and an average target price of $40.17.
Triton International (NYSE:TRTN) last posted its quarterly earnings data on Friday, November 2nd. The company reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.05. The firm had revenue of $350.08 million for the quarter, compared to the consensus estimate of $349.39 million. Triton International had a net margin of 37.41% and a return on equity of 14.44%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS. On average, analysts expect that Triton International will post 4.42 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Monday, December 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend is Friday, November 30th. Triton International’s dividend payout ratio (DPR) is currently 74.82%.
In related news, Director Global Ltd Bharti purchased 337,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average cost of $34.78 per share, with a total value of $11,720,860.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Pincus (Ganymede-Ii) P. Warburg sold 1,850,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $34.78, for a total transaction of $64,343,000.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of TRTN. Millennium Management LLC boosted its holdings in shares of Triton International by 5.3% in the 1st quarter. Millennium Management LLC now owns 41,170 shares of the company’s stock worth $1,260,000 after buying an additional 2,080 shares during the last quarter. Atria Investments LLC purchased a new position in shares of Triton International in the 2nd quarter worth about $223,000. Fox Run Management L.L.C. purchased a new position in shares of Triton International in the 2nd quarter worth about $416,000. Amalgamated Bank purchased a new position in shares of Triton International in the 2nd quarter worth about $218,000. Finally, James Investment Research Inc. purchased a new position in shares of Triton International in the 2nd quarter worth about $2,038,000. 65.69% of the stock is currently owned by institutional investors.
About Triton International
Triton International Limited engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal transportation equipment to shipping lines, and freight forwarding companies and manufacturers. It operates in two segments, Equipment Leasing and Equipment Trading. The company primarily leases dry freight, refrigerated, special, and tank containers; and chassis used for the transportation of containers, as well as manages containers owned by third parties.
Read More: How to Invest in a Bull Market
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Triton International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triton International and related companies with MarketBeat.com's FREE daily email newsletter.