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

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

Separately, TD Cowen lifted their price objective on Trinity Industries from $30.00 to $33.00 and gave the company a buy rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Trinity Industries currently has a consensus rating of Moderate Buy and an average price target of $31.00.

Trinity Industries Stock Performance

TRN opened at $30.44 on Thursday. The company’s 50 day moving average is $26.67 and its 200 day moving average is $25.61. The company has a current ratio of 1.88, a quick ratio of 0.78 and a debt-to-equity ratio of 4.55. The company has a market cap of $2.49 billion, a price-to-earnings 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 issued its quarterly earnings results on Wednesday, May 1st. The transportation company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Trinity Industries had a net margin of 3.98% and a return on equity of 10.93%. The business had revenue of $809.60 million for the quarter, compared to analysts’ expectations of $750.97 million. During the same quarter last year, the company posted $0.07 EPS. The company’s revenue was up 26.2% compared to the same quarter last year. On average, equities research analysts predict that Trinity Industries will post 1.46 EPS for the current year.

Trinity Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Friday, April 12th. Trinity Industries’s dividend payout ratio (DPR) is 75.17%.

Insider Activity at Trinity Industries

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

Institutional Investors Weigh In On Trinity Industries

Large investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System bought a new stake in Trinity Industries in the 4th quarter worth approximately $1,090,000. Criterion Capital Advisors LLC bought a new stake in Trinity Industries in the fourth quarter worth $76,000. Charles Schwab Investment Management Inc. raised its stake in Trinity Industries by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,181,202 shares of the transportation company’s stock valued at $28,762,000 after purchasing an additional 68,165 shares in the last quarter. Jennison Associates LLC lifted its position in Trinity Industries by 3.2% during the third quarter. Jennison Associates LLC now owns 4,720,106 shares of the transportation company’s stock valued at $114,935,000 after purchasing an additional 146,341 shares during the last quarter. Finally, Cullen Investment Group LTD. purchased a new position in shares of Trinity Industries in the 4th quarter worth $366,000. 86.57% of the stock is owned by institutional investors.

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.