Zacks Investment Research Downgrades Triton International (NYSE:TRTN) to Hold

Triton International (NYSE:TRTNGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. They currently have a $65.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 1.14% from the stock’s previous close.

According to Zacks, “We are impressed with Triton's efforts to reward shareholders via dividends and buybacks. Last October, the company hiked its quarterly dividend by 14%. During the fourth quarter of 2021, Triton repurchased 1.1 million shares and an additional 0.7 million shares through Feb 11, 2022. Strong trade volumes and container demand is driving the company’s top line, mainly due to which its shares have outperformed its industry in the past six months. However, rise in administrative expenses (up 10.9% year over year in 2021) is limiting the company’s bottom-line growth. Escalated total debt-total equity ratio is an added concern for the company. Triton's first-quarter performance is likely to reflect some seasonal softness with regard to dry containers. Coronavirus-related woes continue to dent the company's operations.”

Several other research analysts have also recently issued reports on the company. Bank of America cut Triton International from a “buy” rating to an “underperform” rating and set a $53.00 price objective for the company. in a research report on Friday, April 8th. StockNews.com initiated coverage on Triton International in a research note on Thursday, March 31st. They set a “buy” rating for the company.

TRTN traded up $1.99 on Tuesday, reaching $64.27. The stock had a trading volume of 5,688 shares, compared to its average volume of 558,299. Triton International has a 12-month low of $46.75 and a 12-month high of $72.34. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 3.67. The business’s 50-day moving average price is $65.69 and its two-hundred day moving average price is $61.68. The company has a market cap of $4.18 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 0.58 and a beta of 1.39.

Triton International (NYSE:TRTNGet Rating) last announced its quarterly earnings results on Tuesday, February 15th. The company reported $2.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.52 by $0.15. The business had revenue of $417.20 million for the quarter, compared to analyst estimates of $422.20 million. Triton International had a return on equity of 29.58% and a net margin of 34.57%. The company’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 EPS. As a group, analysts predict that Triton International will post 10.65 earnings per share for the current year.

In related news, EVP John F. O’callaghan sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of $70.00, for a total value of $700,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of TRTN. Geode Capital Management LLC boosted its position in shares of Triton International by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 1,120,825 shares of the company’s stock worth $67,507,000 after buying an additional 41,365 shares during the period. Donald Smith & CO. Inc. lifted its position in Triton International by 77.7% in the third quarter. Donald Smith & CO. Inc. now owns 605,111 shares of the company’s stock worth $31,490,000 after purchasing an additional 264,541 shares during the period. Bank of New York Mellon Corp lifted its position in Triton International by 5.7% in the third quarter. Bank of New York Mellon Corp now owns 292,922 shares of the company’s stock worth $15,244,000 after purchasing an additional 15,676 shares during the period. Parametric Portfolio Associates LLC lifted its position in Triton International by 1.9% in the fourth quarter. Parametric Portfolio Associates LLC now owns 149,405 shares of the company’s stock worth $8,999,000 after purchasing an additional 2,845 shares during the period. Finally, Schroder Investment Management Group lifted its position in Triton International by 18.9% in the fourth quarter. Schroder Investment Management Group now owns 148,077 shares of the company’s stock worth $8,919,000 after purchasing an additional 23,506 shares during the period. Institutional investors own 65.05% of the company’s stock.

About Triton International (Get Rating)

Triton International Limited engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal containers and chassis 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 containers, as well as provides maritime container management services.

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