Triumph Group Inc. (TGI) Stock Price Down 2.7%
Shares of Triumph Group Inc. (NYSE:TGI) were down 2.7% during trading on Thursday . The company traded as low as $29.20 and last traded at $29.27, with a volume of 450,692 shares. The stock had previously closed at $30.08.
A number of brokerages have commented on TGI. Royal Bank Of Canada increased their price objective on Triumph Group from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, May 5th. Credit Suisse Group AG restated a “buy” rating and set a $44.00 price target on shares of Triumph Group in a research report on Friday, July 29th. Canaccord Genuity restated a “hold” rating on shares of Triumph Group in a research report on Tuesday, May 10th. Goldman Sachs Group Inc. raised their price target on Triumph Group from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, May 9th. Finally, Jefferies Group restated a “buy” rating and set a $54.00 price target on shares of Triumph Group in a research report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $45.92.
The stock has a 50-day moving average of $35.49 and a 200 day moving average of $33.49. The company’s market capitalization is $1.52 billion.
Triumph Group (NYSE:TGI) last announced its earnings results on Thursday, July 28th. The company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.10. During the same period in the prior year, the firm posted $1.31 earnings per share. The company earned $893.30 million during the quarter, compared to the consensus estimate of $896.80 million. The company’s revenue was down 6.9% on a year-over-year basis. Analysts predict that Triumph Group Inc. will post $3.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Tuesday, August 30th.
Several hedge funds and institutional investors recently added to or reduced their stakes in TGI. State of New Jersey Common Pension Fund D raised its stake in shares of Triumph Group by 9.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 600,000 shares of the company’s stock worth $23,850,000 after buying an additional 50,000 shares in the last quarter. Snow Capital Management LP raised its stake in shares of Triumph Group by 4.4% in the fourth quarter. Snow Capital Management LP now owns 1,954,258 shares of the company’s stock worth $77,682,000 after buying an additional 83,152 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Triumph Group during the fourth quarter worth approximately $16,122,000. Liberty Mutual Group Asset Management Inc. raised its stake in shares of Triumph Group by 50.8% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 31,617 shares of the company’s stock worth $1,256,000 after buying an additional 10,656 shares in the last quarter. Finally, Fiduciary Management Associates LLC raised its stake in shares of Triumph Group by 29.1% in the fourth quarter. Fiduciary Management Associates LLC now owns 489,283 shares of the company’s stock worth $19,451,000 after buying an additional 110,390 shares in the last quarter.
Triumph Group, Inc (Triumph) designs, engineers, manufactures, repairs, overhauls and distributes a portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. It serves the aviation industry, including original equipment manufacturers (OEMs), of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.
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