Trinity Industries (NYSE:TRN) Rating Lowered to Underweight at Wells Fargo & Co

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Trinity Industries (NYSE:TRN) was downgraded by equities research analysts at Wells Fargo & Co from an “overweight” rating to an “underweight” rating in a note issued to investors on Tuesday, MarketBeat reports. They currently have a $22.00 price target on the transportation company’s stock. Wells Fargo & Co‘s target price points to a potential upside of 6.28% from the company’s previous close.

Several other research firms have also commented on TRN. Stephens set a $20.00 price objective on shares of Trinity Industries and gave the stock a “hold” rating in a research note on Friday, October 25th. ValuEngine raised shares of Trinity Industries from a “sell” rating to a “hold” rating in a research note on Monday, November 25th. Cowen dropped their price objective on shares of Trinity Industries from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Susquehanna Bancshares lowered shares of Trinity Industries from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $25.00 to $22.00 in a research note on Friday, November 8th. Finally, Buckingham Research set a $18.00 price objective on shares of Trinity Industries and gave the stock a “hold” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $23.75.

NYSE:TRN opened at $20.70 on Tuesday. Trinity Industries has a one year low of $16.03 and a one year high of $26.63. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.70 and a quick ratio of 0.68. The company’s 50-day simple moving average is $21.88 and its 200 day simple moving average is $19.81. The firm has a market capitalization of $2.60 billion, a P/E ratio of 25.88, a PEG ratio of 1.84 and a beta of 2.07.

Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. Trinity Industries had a net margin of 4.96% and a return on equity of 6.27%. The business had revenue of $813.60 million for the quarter, compared to analyst estimates of $809.80 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Trinity Industries’s quarterly revenue was up 34.1% on a year-over-year basis. On average, equities research analysts expect that Trinity Industries will post 1.24 earnings per share for the current fiscal year.

In other news, Director Brandon B. Boze bought 150,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $21.53 per share, for a total transaction of $3,229,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brandon B. Boze bought 600,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $19.84 per share, for a total transaction of $11,904,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 1,510,646 shares of company stock worth $30,920,620. Insiders own 18.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Tennessee Treasury Department bought a new position in shares of Trinity Industries in the third quarter worth approximately $1,968,000. Magnetar Financial LLC lifted its position in Trinity Industries by 142.3% during the second quarter. Magnetar Financial LLC now owns 25,014 shares of the transportation company’s stock valued at $519,000 after purchasing an additional 14,691 shares during the period. Parametric Portfolio Associates LLC lifted its position in Trinity Industries by 14.0% during the third quarter. Parametric Portfolio Associates LLC now owns 630,725 shares of the transportation company’s stock valued at $12,413,000 after purchasing an additional 77,373 shares during the period. Penserra Capital Management LLC bought a new position in Trinity Industries during the third quarter valued at approximately $59,000. Finally, Russell Investments Group Ltd. lifted its position in Trinity Industries by 7.4% during the third quarter. Russell Investments Group Ltd. now owns 212,577 shares of the transportation company’s stock valued at $4,184,000 after purchasing an additional 14,731 shares during the period. Hedge funds and other institutional investors own 91.27% of the company’s stock.

Trinity Industries Company Profile

Trinity Industries, Inc provides rail transportation products and services in North America. It operates through three segments: Railcar Leasing and Management Services Group, Rail Products Group, and All Other. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investor-owned fund; and provides fleet maintenance and management services to industrial shippers.

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Analyst Recommendations for Trinity Industries (NYSE:TRN)

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