Trinity Industries (NYSE:TRN) Price Target Raised to $34.00 at Susquehanna

Trinity Industries (NYSE:TRN) had its target price increased by Susquehanna from $30.00 to $34.00 in a research note released on Thursday morning, Benzinga reports. They currently have a positive rating on the transportation company’s stock.

Separately, TD Cowen boosted their price objective on shares of Trinity Industries from $30.00 to $33.00 and gave the stock a buy rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $31.00.

Trinity Industries Stock Up 1.3 %

TRN traded up $0.39 during trading on Thursday, reaching $30.44. The company had a trading volume of 628,976 shares, compared to its average volume of 628,005. The business’s fifty day moving average price is $26.67 and its 200 day moving average price is $25.57. The company has a debt-to-equity ratio of 4.55, a current ratio of 1.88 and a quick ratio of 0.78. The company has a market cap of $2.49 billion, a P/E ratio of 20.43 and a beta of 1.39. Trinity Industries has a 12 month low of $20.04 and a 12 month high of $30.65.

Trinity Industries (NYSE:TRN) last announced its quarterly earnings data on Wednesday, May 1st. The transportation company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $809.60 million for the quarter, compared to analyst estimates of $750.97 million. Trinity Industries had a net margin of 3.98% and a return on equity of 10.93%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Equities analysts anticipate that Trinity Industries will post 1.46 EPS for the current year.

Trinity Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Friday, April 12th. Trinity Industries’s dividend payout ratio (DPR) is currently 75.17%.

Insiders Place Their Bets

In other Trinity Industries news, CFO Eric R. Marchetto sold 9,781 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $28.00, for a total value of $273,868.00. Following the transaction, the chief financial officer now directly owns 233,704 shares in the company, valued at $6,543,712. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Trinity Industries

Several institutional investors and hedge funds have recently modified their holdings of TRN. Goldman Sachs Group Inc. increased its holdings in shares of Trinity Industries by 72.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 707,633 shares of the transportation company’s stock valued at $18,816,000 after purchasing an additional 297,153 shares during the last quarter. Norges Bank acquired a new position in shares of Trinity Industries in the fourth quarter valued at $6,743,000. Jennison Associates LLC grew its stake in shares of Trinity Industries by 3.2% in the third quarter. Jennison Associates LLC now owns 4,720,106 shares of the transportation company’s stock valued at $114,935,000 after acquiring an additional 146,341 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Trinity Industries by 44.7% in the third quarter. First Eagle Investment Management LLC now owns 428,106 shares of the transportation company’s stock valued at $10,424,000 after acquiring an additional 132,255 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of Trinity Industries by 9.1% in the third quarter. Gamco Investors INC. ET AL now owns 1,217,163 shares of the transportation company’s stock valued at $29,638,000 after acquiring an additional 102,000 shares in the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.

About Trinity Industries

Trinity Industries, Inc provides rail transportation products and services under the TrinityRail name in North America. It operates in two segments, Railcar Leasing and Management Services Group, and Rail Products Group. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investors; and provides fleet maintenance and management services.