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Trinity Industries, Inc. (TRN) - free report >>
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Trinity Industries, Inc. (TRN) - free report >>
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Trinity (TRN) Acquires Quasar, Expands Trinsight Platform
Trinity Industries (TRN - Free Report) recently closed the acquisition of Quasar Platform Inc. from Cando Rail & Terminals Ltd.
The acquisition of Quasar, a rail logistics software platform providing real-time data to freight rail shippers and operators, expands Trinity’s digital product portfolio, including Trinsight, by adding capabilities such as yard management, activity-based costing and new data visualization tools.
Trinity’s executive vice president and chief commercial officer, Gregg Mitchell, said, "Shippers are looking for solutions that increase efficiency and visibility of their supply chain, and the Quasar team puts tremendous value on solving customer challenges and being responsive to rail shippers’ needs." The buyout enhances TRN’s Trinsight platform by offering innovations to deepen relationships with rail shippers.
Trinity Industries, Inc. Price
Trinity Industries, Inc. price | Trinity Industries, Inc. Quote
The acquisition, which closed on May 26 for an undisclosed sum, is not expected to be material to Trinity’s results. As part of the terms of the acquisition, Quasar employees will remain with the company.
The acquisition is expected to drive overall growth of Trinity. With recovery in the economy, increase in demand for railcars is aiding the company. TRN anticipates this improvement in railcar demand to continue throughout 2022.
Zacks Rank & Key Picks
Trinity carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Transportation sector are as follows:
Golar LNG Limited (GLNG - Free Report) carries a Zacks Rank #2 (Buy). The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters and missing the same once, the average surprise being 42.1%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Shares of Golar LNG have rallied more than 94% in a year.
Star Bulk Carriers (SBLK - Free Report) carries a Zacks Rank #2. The company's earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once, the average surprise being 7.1%.
Shares of Star Bulk have gained more than 99% in a year.