Zacks Investment Research upgraded shares of Triton International (NYSE:TRTN) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. The brokerage currently has $39.00 price objective on the stock.
According to Zacks, “Triton International is anticipated to perform well in the fourth quarter on the back of tight supply/demand conditions for containers. Additionally, the company's efforts to reward shareholders in the form of dividend payments and share buybacks also sound encouraging. To this end, the company hiked its quarterly cash dividend payout by 7 cents to 52 cents per share in May 2018. As of Oct 31, 2018, the company repurchased approximately 1 million shares for $30.1 million. Its strong cash flow generation is an added positive. The positivity revolving around the stock is evident from the Zacks Consenus Estimate for current-quarer earnings being revised 2.6% upward in the last 60 days. However, the fourth quarter is a sluggish season for dry containers and this might have an adverse impact on results. Moreover, Triton is a highly leveraged company.”
Other research analysts also recently issued reports about the company. Bank of America reduced their price objective on Triton International from $41.00 to $38.00 and set a buy rating for the company in a research note on Wednesday, October 10th. Wells Fargo & Co downgraded Triton International from an outperform rating to a market perform rating and set a $35.00 price objective for the company. in a research note on Friday, September 28th. Keefe, Bruyette & Woods raised Triton International from a market perform rating to an outperform rating in a research note on Thursday, September 6th. Finally, ValuEngine raised Triton International from a strong sell rating to a sell rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Triton International has an average rating of Buy and an average price target of $40.17.
Shares of TRTN stock traded down $0.16 during trading hours on Thursday, hitting $33.21. 1,795 shares of the company’s stock were exchanged, compared to its average volume of 419,907. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.76 and a beta of 2.84. Triton International has a fifty-two week low of $27.76 and a fifty-two week high of $42.41.
Triton International (NYSE:TRTN) last announced its earnings results on Friday, November 2nd. The company reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.05. The business had revenue of $350.08 million during the quarter, compared to the consensus estimate of $349.39 million. Triton International had a return on equity of 14.44% and a net margin of 37.41%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 EPS. Analysts anticipate that Triton International will post 4.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 6.26%. The ex-dividend date of this dividend is Friday, November 30th. Triton International’s dividend payout ratio is currently 74.82%.
In other news, Director Global Ltd Bharti acquired 337,000 shares of Triton International stock in a transaction that occurred on Thursday, November 1st. The stock was purchased at an average cost of $34.78 per share, with a total value of $11,720,860.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TRTN. Stratos Wealth Partners LTD. acquired a new position in Triton International in the 3rd quarter valued at $180,000. IFP Advisors Inc grew its holdings in Triton International by 110.9% in the 3rd quarter. IFP Advisors Inc now owns 5,752 shares of the company’s stock valued at $191,000 after buying an additional 3,024 shares in the last quarter. Amalgamated Bank purchased a new stake in Triton International in the 2nd quarter valued at $218,000. SG Americas Securities LLC grew its holdings in Triton International by 31.9% in the 2nd quarter. SG Americas Securities LLC now owns 7,109 shares of the company’s stock valued at $218,000 after buying an additional 1,720 shares in the last quarter. Finally, Commonwealth Bank of Australia purchased a new stake in Triton International in the 3rd quarter valued at $219,000. 64.25% of the stock is owned by hedge funds and other institutional investors.
Triton International Company Profile
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.
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