Triton International Ltd (NYSE:TRTN) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 1,670,000 shares, a decrease of 30.7% from the December 15th total of 2,410,000 shares. Based on an average daily volume of 264,300 shares, the short-interest ratio is currently 6.3 days. Approximately 3.2% of the company’s shares are short sold.
NYSE:TRTN opened at $39.88 on Friday. The company has a fifty day moving average of $38.81 and a 200 day moving average of $35.02. Triton International has a 52 week low of $29.50 and a 52 week high of $40.43. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 3.36. The firm has a market capitalization of $2.87 billion, a P/E ratio of 8.82, a P/E/G ratio of 0.86 and a beta of 2.29.
Triton International (NYSE:TRTN) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.16 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.16. Triton International had a net margin of 24.34% and a return on equity of 16.69%. The company had revenue of $336.70 million during the quarter, compared to analyst estimates of $337.74 million. During the same period in the prior year, the business posted $1.17 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. As a group, analysts anticipate that Triton International will post 4.6 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 5.22%. Triton International’s dividend payout ratio is currently 46.02%.
A number of equities research analysts recently commented on the stock. Cowen lowered their price target on shares of Triton International from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, October 28th. TheStreet upgraded shares of Triton International from a “c” rating to a “b-” rating in a report on Thursday, October 24th. Compass Point lowered shares of Triton International from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a report on Friday, October 25th. Zacks Investment Research lowered shares of Triton International from a “hold” rating to a “sell” rating and set a $39.00 price target for the company. in a report on Monday, October 28th. Finally, CJS Securities assumed coverage on shares of Triton International in a report on Wednesday, September 18th. They set a “market perform” rating and a $42.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $39.40.
In other news, SVP Kevin Valentine sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $37.50, for a total value of $150,000.00. Following the completion of the sale, the senior vice president now owns 65,888 shares of the company’s stock, valued at approximately $2,470,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Triton International by 9.9% in the 2nd quarter. BlackRock Inc. now owns 3,860,078 shares of the company’s stock worth $126,456,000 after purchasing an additional 348,177 shares in the last quarter. State Street Corp raised its holdings in Triton International by 1.9% in the 3rd quarter. State Street Corp now owns 1,208,074 shares of the company’s stock worth $40,881,000 after purchasing an additional 22,297 shares in the last quarter. Northern Trust Corp raised its holdings in Triton International by 19.4% in the 2nd quarter. Northern Trust Corp now owns 772,467 shares of the company’s stock worth $25,305,000 after purchasing an additional 125,773 shares in the last quarter. Kempen Capital Management N.V. raised its holdings in Triton International by 3.8% in the 2nd quarter. Kempen Capital Management N.V. now owns 606,160 shares of the company’s stock worth $19,858,000 after purchasing an additional 22,230 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Triton International by 5.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 484,105 shares of the company’s stock worth $15,860,000 after purchasing an additional 25,457 shares in the last quarter. Institutional investors own 46.65% of the company’s stock.
About Triton International
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, refrigerated, special, and tank containers; and chassis used for the transportation of intermodal containers, as well as provides container management services.
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