Why Has Cowen Given Trinity Industries (NYSE:TRN) a $32 Price Target
Analysts at Cowen have begun coverage on shares of Trinity Industries (NYSE:TRN) in a recent report sent to clients and investors on Monday morning. The financial firm set Outperform rating on the $3.62 billion market cap company.
From a total of 9 analysts covering Trinity Industries (NYSE:TRN) stock, 6 rate it a ”Buy”, 1 a “Sell”, and 4 a ”Hold”. This means that 55% of the ratings are positive. The highest target price is $42 while the lowest target price is $25. The mean of all analyst targets is $33.78 with a 24.47% above today’s ($23.7) stock price. Trinity Industries was the topic of 3 analyst reports since September 4, 2015 according to the firm StockzIntelligence Inc. Wells Fargo downgraded shares on September 21 to “Market Perform” rating.
The stock decreased 2.79% or $0.68 on December 11, striking $23.7. Approximately shares of stock traded hands. Trinity Industries Inc (NYSE:TRN) has declined 22.96% since May 11, 2015 and is downtrending. It has underperformed by 18.54% the S&P500.
The overall sentiment of institutions has decreased to 0.79 in Q2 2015. Its down 0.41, from 1.2 in 2015Q2. The ratio fall, as 72 institutions have sold all the shares of Trinity Industries Inc that they owned while 148 funds have taken shares off the table. 43 funds have purchased shares for the first time while 131 added to their positions. These institutions now hold 102.22 million shares or 10.18% less than the 113.81 million shares they owned in 2015Q2.
The Fund Nokomis Capital L.L.C. currently is holding shares equating to 4.16% of its total portfolio in Trinity Industries Inc representing a total of 640,694 shares. Another fund,Southernsun Asset Management Llc, is holding a total of 7.98 million shares equating to 4% of their holdings. Additionally, First Dallas Securities Inc. has a 204,189 share stake in Trinity Industries Inc which represents 3.81% of their total portfolio. The Fund, Foundation Asset Management Lp, based out of New York, has also built up a stake in the stock, which represents a total of 3.74% of their total portfolio. Finally Hirzel Capital Management Llc, a fund which is based in the state of Texas reported a total holdings of 949,016 shares.
Trinity Industries, Inc. is a diversified industrial firm that owns businesses providing services and products to the energy, transportation, chemical and construction sectors. The company has a market cap of $3.62 billion. The Company’s services and products include railcars and railcar parts, the leasing, management, and maintenance of railcars, inland barges, highway products, aggregates, storage and distribution containers, structural wind towers, electric utility structures and parts and steel components. It has 5.1 P/E ratio. The Firm operates under the following divisions: the Rail Group, Construction Products Group, Inland Barge Group, Energy Equipment Group, Railcar Leasing and Management Services Group, and All Other.
According to Zacks Investment Research, “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.”