StockNews.com Initiates Coverage on Triton International (NYSE:TRTN)

Posted by on Jun 17th, 2023

StockNews.com started coverage on shares of Triton International (NYSE:TRTN – Get Rating) in a report released on Saturday. The firm set a “buy” rating on the stock.

A number of other research firms have also weighed in on TRTN. 1-800-FLOWERS.COM reiterated a “downgrade” rating on shares of Triton International in a research note on Tuesday. CJS Securities lowered shares of Triton International to a “market perform” rating in a research note on Tuesday. Keefe, Bruyette & Woods downgraded Triton International from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 12th. Finally, B. Riley downgraded Triton International from a “buy” rating to a “neutral” rating in a research note on Thursday, April 13th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Triton International has a consensus rating of “Hold” and an average price target of $74.00.

Triton International Price Performance

Triton International stock opened at $83.16 on Friday. Triton International has a 12 month low of $48.64 and a 12 month high of $83.82. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 3.26. The business’s 50 day simple moving average is $82.17 and its 200 day simple moving average is $72.65. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 7.68 and a beta of 1.35.

Triton International (NYSE:TRTN – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.17. Triton International had a return on equity of 28.48% and a net margin of 42.31%. The business had revenue of $397.70 million for the quarter, compared to analysts’ expectations of $394.60 million. During the same period in the previous year, the business posted $2.76 EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. Sell-side analysts forecast that Triton International will post 9.18 EPS for the current year.

Hedge Funds Weigh In On Triton International

Institutional investors have recently added to or reduced their stakes in the business. Brookfield Corp ON purchased a new position in Triton International in the 1st quarter worth approximately $167,533,000. LSV Asset Management lifted its stake in Triton International by 1.4% during the first quarter. LSV Asset Management now owns 1,732,840 shares of the company’s stock worth $109,550,000 after purchasing an additional 24,030 shares during the last quarter. Geode Capital Management LLC lifted its stake in Triton International by 11.0% during the first quarter. Geode Capital Management LLC now owns 1,196,761 shares of the company’s stock worth $76,382,000 after purchasing an additional 118,742 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Triton International by 0.8% during the first quarter. Bank of New York Mellon Corp now owns 298,153 shares of the company’s stock worth $20,924,000 after purchasing an additional 2,441 shares during the last quarter. Finally, Hallmark Capital Management Inc. lifted its stake in Triton International by 1.7% during the first quarter. Hallmark Capital Management Inc. now owns 240,481 shares of the company’s stock worth $15,203,000 after purchasing an additional 4,000 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors.

Triton International Company Profile

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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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