Triumph Group (TGI) Upgraded to “Hold” by Zacks Investment Research
Triumph Group (NYSE:TGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday. The brokerage currently has a $32.00 price target on the aerospace company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.97% from the company’s current price.
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.”
A number of other equities analysts have also weighed in on the company. TheStreet lowered Triumph Group from a “c-” rating to a “d+” rating in a research note on Wednesday, December 27th. Royal Bank of Canada set a $39.00 target price on Triumph Group and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Canaccord Genuity reiterated a “hold” rating and set a $36.00 target price (up previously from $30.00) on shares of Triumph Group in a research note on Thursday, November 9th. Cowen reiterated a “hold” rating and set a $30.00 target price on shares of Triumph Group in a research note on Thursday, November 9th. Finally, SunTrust Banks increased their target price on Triumph Group to $34.00 and gave the stock a “hold” rating 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 given a strong buy rating to the stock. Triumph Group has a consensus rating of “Hold” and a consensus price target of $33.00.
Triumph Group (NYSE:TGI) last released its quarterly earnings data on Wednesday, November 8th. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.20. The firm had revenue of $745.16 million for the quarter, compared to analyst estimates of $787.90 million. Triumph Group had a positive return on equity of 27.18% and a negative net margin of 3.18%. The business’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. equities research analysts forecast that Triumph Group will post 2.51 earnings per share for the current fiscal year.
In related news, Director Joseph Silvestri sold 34,162 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel J. Crowley sold 78,900 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $31.35, for a total value of $2,473,515.00. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Riverhead Capital Management LLC grew its position in Triumph Group by 56.8% during the second quarter. Riverhead Capital Management LLC now owns 3,763 shares of the aerospace company’s stock worth $119,000 after buying an additional 1,363 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Triumph Group during the second quarter worth approximately $201,000. BlueCrest Capital Management Ltd acquired a new stake in Triumph Group during the second quarter worth approximately $207,000. Amalgamated Bank acquired a new stake in Triumph Group during the second quarter worth approximately $210,000. Finally, Sei Investments Co. grew its position in Triumph Group by 35.6% during the third quarter. Sei Investments Co. now owns 7,160 shares of the aerospace company’s stock worth $214,000 after buying an additional 1,881 shares in the last quarter.
About Triumph Group
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Triumph Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triumph Group and related companies with MarketBeat.com's FREE daily email newsletter.