Zacks Investment Research upgraded shares of Triumph Group (NYSE:TGI) from a hold rating to a buy rating in a research note published on Monday, Zacks.com reports. They currently have $25.00 target price on the aerospace company’s stock.
According to Zacks, “Triumph Group’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 strengthen the company’s balance sheet. Commercial narrow-body jet remains an important growth platform for Triumph Group, buoyed by increasing global demand for such jets. Its shares outperformed the industry in the past six months. 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 the company’s margins under pressure. Geopolitical security issues and currency fluctuations may further shrink profitability.”
Separately, ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $24.38.
Triumph Group (NYSE:TGI) last released its quarterly earnings data on Wednesday, May 8th. The aerospace company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.47. The firm had revenue of $869.03 million for the quarter, compared to the consensus estimate of $842.57 million. Triumph Group had a negative net margin of 9.56% and a negative return on equity of 35.34%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, analysts predict that Triumph Group will post 2.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Friday, May 31st were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Thursday, May 30th. Triumph Group’s payout ratio is currently 6.43%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Flinton Capital Management LLC raised its position in Triumph Group by 18.7% during the fourth quarter. Flinton Capital Management LLC now owns 6,608 shares of the aerospace company’s stock worth $76,000 after acquiring an additional 1,040 shares during the last quarter. New York State Common Retirement Fund raised its position in Triumph Group by 1,289.8% during the fourth quarter. New York State Common Retirement Fund now owns 754,668 shares of the aerospace company’s stock worth $8,679,000 after acquiring an additional 700,368 shares during the last quarter. Comerica Bank raised its position in Triumph Group by 3.6% during the first quarter. Comerica Bank now owns 49,931 shares of the aerospace company’s stock worth $1,101,000 after acquiring an additional 1,743 shares during the last quarter. Tibra Equities Europe Ltd acquired a new position in Triumph Group during the first quarter worth about $1,296,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Triumph Group during the first quarter worth about $223,000.
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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