Today: The Zacks Investment Research Downgraded Triton International Limited (TRTN) to Strong Sell

Today: The Zacks Investment Research Downgraded Triton International Limited (TRTN) to Strong Sell

Zacks Investment Research downgraded shares of Triton International Limited (NASDAQ:TRTN) from a hold rating to a strong sell rating in a research report released on Tuesday.

According to Zacks, “Triton International Limited offers acquisition, leasing, re-leasing, and sale of intermodal containers. The company’s leasing equipment consists of Dry Freight Containers, Refrigerated Containers, Special Containers, Tank Containers and Chassis. Triton International Limited, formerly known as TAL International Group, Inc., is based in Hamilton, Bermuda. “

A number of other brokerages have also recently commented on TRTN. Cowen and Company raised shares of Triton International Limited from a market perform rating to an outperform rating and upped their target price for the company from $17.00 to $23.00 in a report on Tuesday, November 22nd. Bank of America Corp. raised shares of Triton International Limited from an underperform rating to a buy rating in a report on Monday, November 14th.

Shares of Triton International Limited (NASDAQ:TRTN) opened at 21.02 on Tuesday. The company has a 50-day moving average price of $14.41 and a 200 day moving average price of $14.60. Triton International Limited has a 12-month low of $8.15 and a 12-month high of $21.34.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Friday, December 2nd will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.80 annualized dividend and a yield of 8.56%.

In other news, Director Kenneth Hanau purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was purchased at an average cost of $17.24 per share, with a total value of $172,400.00. Following the completion of the acquisition, the director now directly owns 29,225 shares of the company’s stock, valued at approximately $503,839. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Malcolm Baker purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were purchased at an average cost of $21.23 per share, with a total value of $63,690.00. Following the completion of the acquisition, the director now directly owns 38,025 shares of the company’s stock, valued at $807,270.75. The disclosure for this purchase can be found here.

A number of hedge funds and other institutional investors have recently bought and sold shares of TRTN. Airain ltd purchased a new position in Triton International Limited during the third quarter valued at about $134,000. LSV Asset Management purchased a new position in Triton International Limited during the third quarter valued at about $22,140,000. Wedbush Securities Inc. purchased a new position in Triton International Limited during the third quarter valued at about $1,223,000. Camelot Portfolios LLC purchased a new position in Triton International Limited during the third quarter valued at about $707,000. Finally, UBS Asset Management Americas Inc. purchased a new position in Triton International Limited during the third quarter valued at about $186,000.

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