Zacks Investment Research upgraded shares of Triumph Group (NYSE:TGI) from a sell rating to a hold rating in a report released on Saturday morning. The firm currently has $32.00 price target on the aerospace company’s stock.
According to Zacks, “Triumph Group’s focus on driving organic growth has been reasonably strong based on the addition of products and services, expansion of operating capacity and marketing of a range of products. The company is committed on enhancing shareholder value through a systematic share repurchase program and payment of dividends at regular intervals. Triumph Group’s planned divestitures of non-core operating companies are progressing towards completion in fiscal 2018. However, a large percentage of Triumph Group’s aftermarket sales come from third-party repair and overhaul thus exposing it to tough competition from OEMs as well as third-party organizations. Further, Triumph Group underperformed the broader industry over the last year. The company’s performance also depends largely on the orders of defense majors like Boeing.”
Several other equities research analysts also recently issued reports on TGI. Jefferies Group reiterated a hold rating and issued a $30.00 target price on shares of Triumph Group in a research note on Friday, September 29th. Robert W. Baird reiterated a buy rating and issued a $34.00 target price on shares of Triumph Group in a research note on Thursday, October 12th. SunTrust Banks reiterated a hold rating and issued a $28.00 target price on shares of Triumph Group in a research note on Thursday, October 12th. Royal Bank of Canada reiterated an outperform rating and issued a $41.00 target price (up from $38.00) on shares of Triumph Group in a research note on Thursday, November 9th. Finally, Cowen reiterated a hold rating and issued a $30.00 target price on shares of Triumph Group in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Triumph Group currently has an average rating of Hold and an average target price of $33.00.
Triumph Group (NYSE:TGI) last posted its quarterly earnings data on Wednesday, November 8th. The aerospace company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.20. Triumph Group had a negative net margin of 3.18% and a positive return on equity of 27.18%. The company had revenue of $745.16 million during the quarter, compared to the consensus estimate of $787.90 million. During the same period in the prior year, the business posted $1.00 EPS. The company’s quarterly revenue was down 14.8% on a year-over-year basis. analysts expect that Triumph Group will post 2.51 earnings per share for the current year.
In other Triumph Group news, CEO Daniel J. Crowley sold 78,900 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $31.35, for a total transaction of $2,473,515.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Silvestri sold 34,162 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $30.31, for a total transaction of $1,035,450.22. Following the sale, the director now owns 109,078 shares of the company’s stock, valued at $3,306,154.18. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of TGI. Dimensional Fund Advisors LP lifted its position in Triumph Group by 43.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,573,763 shares of the aerospace company’s stock worth $81,330,000 after acquiring an additional 774,964 shares during the last quarter. Walthausen & Co. LLC acquired a new stake in Triumph Group during the third quarter worth approximately $20,635,000. Renaissance Technologies LLC acquired a new stake in Triumph Group during the second quarter worth approximately $12,232,000. Schwab Charles Investment Management Inc. lifted its position in Triumph Group by 118.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 570,890 shares of the aerospace company’s stock worth $18,041,000 after acquiring an additional 309,588 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in Triumph Group during the second quarter worth approximately $273,000.
Triumph Group Company Profile
Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls and distributes a portfolio of aircraft components, accessories, subassemblies and systems. The Company offers a range of products and services to the aerospace industry through three segments: Triumph Aerostructures Group, whose companies are engaged in the design, manufacture, assembly and integration of metallic and composite aerostructures and structural components for the aerospace original equipment manufacturer (OEM) market; Triumph Aerospace Systems Group, whose companies design, engineer and manufacture a range of build-to-print components, assemblies and systems also for the OEM market, and Triumph Aftermarket Services Group, whose companies serve aircraft fleets, such as commercial airlines, the United States military and cargo carriers, through the maintenance, repair and overhaul (MRO) of aircraft components and accessories manufactured by third parties.
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