Triumph Group Inc. (TGI) Shares Down 2.6%
Triumph Group Inc. (NYSE:TGI) fell 2.6% during trading on Tuesday . The stock traded as low as $27.02 and last traded at $27.28, with a volume of 475,078 shares changing hands. The stock had previously closed at $28.01.
Several brokerages have recently commented on TGI. Zacks Investment Research downgraded shares of Triumph Group from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Credit Suisse Group AG restated a “buy” rating and issued a $44.00 target price on shares of Triumph Group in a research note on Friday, July 29th. JPMorgan Chase & Co. reduced their target price on shares of Triumph Group from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. Deutsche Bank AG restated a “buy” rating and issued a $45.00 target price (up previously from $40.00) on shares of Triumph Group in a research note on Monday, June 13th. Finally, Jefferies Group reduced their target price on shares of Triumph Group from $54.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $45.08.
The stock’s market capitalization is $1.34 billion. The firm has a 50 day moving average of $31.29 and a 200 day moving average of $34.27.
Triumph Group (NYSE:TGI) last released its earnings results on Thursday, July 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.10. The company had revenue of $893.30 million for the quarter, compared to analyst estimates of $896.80 million. Triumph Group had a positive return on equity of 15.92% and a negative net margin of 28.46%. Triumph Group’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.31 EPS. Equities analysts anticipate that Triumph Group Inc. will post $3.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Tuesday, August 30th. Triumph Group’s dividend payout ratio (DPR) is currently -0.72%.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its stake in Triumph Group by 43.1% in the second quarter. BlackRock Fund Advisors now owns 2,744,428 shares of the company’s stock valued at $97,427,000 after buying an additional 826,806 shares during the period. Emerald Acquisition Ltd. bought a new stake in Triumph Group during the second quarter valued at about $23,129,000. Wellington Management Group LLP raised its stake in Triumph Group by 62.6% in the first quarter. Wellington Management Group LLP now owns 1,347,767 shares of the company’s stock valued at $42,428,000 after buying an additional 518,753 shares during the period. Norges Bank bought a new stake in Triumph Group during the fourth quarter valued at about $19,763,000. Finally, RMB Capital Management LLC bought a new stake in Triumph Group during the second quarter valued at about $7,198,000. 99.35% of the stock is currently owned by institutional investors.
About Triumph Group
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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