Triton International Ltd (NYSE:TRTN) hit a new 52-week high during mid-day trading on Wednesday after ValuEngine upgraded the stock from a strong sell rating to a sell rating. The company traded as high as $40.82 and last traded at $39.55, with a volume of 15666 shares changing hands. The stock had previously closed at $37.38.
A number of other research analysts have also recently issued reports on TRTN. BofA Securities raised Triton International from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $39.00 in a report on Friday, July 24th. Bank of America lifted their price objective on Triton International from $43.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research raised Triton International from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Thursday, August 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $41.17.
Several large investors have recently made changes to their positions in TRTN. Wellington Management Group LLP increased its stake in shares of Triton International by 18.6% in the first quarter. Wellington Management Group LLP now owns 4,048,799 shares of the company’s stock valued at $104,742,000 after buying an additional 635,241 shares in the last quarter. Donald Smith & CO. Inc. acquired a new stake in Triton International in the first quarter worth about $5,472,000. Abrams Bison Investments LLC acquired a new stake in Triton International in the first quarter worth about $4,527,000. JPMorgan Chase & Co. increased its position in Triton International by 63.6% in the first quarter. JPMorgan Chase & Co. now owns 375,843 shares of the company’s stock worth $9,722,000 after purchasing an additional 146,116 shares during the period. Finally, Barclays PLC increased its position in Triton International by 421.0% in the second quarter. Barclays PLC now owns 93,589 shares of the company’s stock worth $2,830,000 after purchasing an additional 75,626 shares during the period. Institutional investors own 65.51% of the company’s stock.
The stock has a 50-day moving average of $34.43 and a 200 day moving average of $30.67. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 0.91 and a beta of 2.07.
Triton International (NYSE:TRTN) last announced its quarterly earnings data on Friday, July 24th. The company reported $0.86 EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.03). The firm had revenue of $321.40 million during the quarter, compared to analyst estimates of $312.72 million. Triton International had a return on equity of 15.53% and a net margin of 24.21%. Triton International’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 earnings per share. Sell-side analysts anticipate that Triton International Ltd will post 4 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, September 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.26%. Triton International’s payout ratio is currently 45.51%.
About Triton International (NYSE:TRTN)
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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