Zacks Investment Research upgraded shares of Triumph Group (NYSE:TGI) from a sell rating to a hold rating in a report released on Monday.
According to Zacks, “Triumph Group ended the third quarter of fiscal 2019 on a mixed note. While its earnings surpassed the Zacks Consensus Estimate, revenues failed to meet the consensus mark. The company’s focus on improving its organic growth has been reasonably strong, based on the addition of products and services as well as expansion of operating capacity. It is conducting vigorous divestiture of its non-core operations to help strengthen the company’s balance sheet. The company’s shares outperformed its industry in past one month. However, a large portion of Triumph Group’s aftermarket sales comes from third-party repair and overhaul, thus exposing it to tough competition from OEMs. Moreover, volatile energy and commodity prices can put pressure on the company’s margins. With the current U.S. economy being in favor of expanding interest rate, the credit market may not turn out to be much favorable for Triumph Group.”
A number of other equities research analysts have also issued reports on TGI. ValuEngine upgraded shares of Triumph Group from a strong sell rating to a sell rating in a report on Tuesday, November 6th. UBS Group upgraded shares of Triumph Group from a sell rating to a neutral rating and reduced their target price for the stock from $19.00 to $14.50 in a report on Monday, December 17th. Cowen upgraded shares of Triumph Group from a market perform rating to an outperform rating and increased their target price for the stock from $20.00 to $22.00 in a report on Friday, January 25th. SunTrust Banks increased their target price on shares of Triumph Group to $25.00 and gave the stock a hold rating in a report on Friday. Finally, Bank of America upgraded shares of Triumph Group from an underperform rating to a buy rating and increased their target price for the stock from $20.00 to $35.00 in a report on Monday. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Triumph Group has a consensus rating of Hold and an average target price of $24.95.
Triumph Group (NYSE:TGI) last released its earnings results on Thursday, February 7th. The aerospace company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.04. The company had revenue of $807.90 million for the quarter, compared to analyst estimates of $829.37 million. Triumph Group had a negative net margin of 12.41% and a negative return on equity of 149.35%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. As a group, analysts expect that Triumph Group will post 1.72 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in TGI. Walthausen & Co. LLC acquired a new stake in shares of Triumph Group in the 3rd quarter valued at $24,533,000. New York State Common Retirement Fund raised its holdings in shares of Triumph Group by 1,289.8% in the 4th quarter. New York State Common Retirement Fund now owns 754,668 shares of the aerospace company’s stock valued at $8,679,000 after purchasing an additional 700,368 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Triumph Group in the 3rd quarter valued at $4,944,000. Jane Street Group LLC raised its holdings in shares of Triumph Group by 118.4% in the 3rd quarter. Jane Street Group LLC now owns 22,584 shares of the aerospace company’s stock valued at $526,000 after purchasing an additional 145,489 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Triumph Group by 17.2% in the 3rd quarter. Royce & Associates LP now owns 834,800 shares of the aerospace company’s stock valued at $19,451,000 after purchasing an additional 122,400 shares in the last quarter.
Triumph Group Company Profile
Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aerostructures, aircraft components, accessories, subassemblies, and systems worldwide. The company operates in three segments: Integrated Systems, Aerospace Structures, and Product Support. It offers aircraft and engine-mounted accessory drives, thermal control systems and components, cargo hooks, high lift actuations, cockpit control levers, hydraulic systems and components, landing gear actuation systems, control system valve bodies, landing gear components and assemblies, electronic engine controls, main engine gear box assemblies, exhaust nozzles and ducting, fuel pumps, geared transmissions and drive train components, secondary flight control systems, fuel metering units, and vibration absorbers.
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