Triumph Group Inc. (TGI) Stock Price Down 2%
Triumph Group Inc. (NYSE:TGI) shares dropped 2% during trading on Tuesday . The stock traded as low as $31.83 and last traded at $31.92, with a volume of 112,595 shares. The stock had previously closed at $32.56.
TGI has been the subject of several analyst reports. Jefferies Group cut their price objective on shares of Triumph Group from $54.00 to $44.00 and set a “buy” rating for the company in a report on Friday, July 29th. Standpoint Research reissued a “buy” rating on shares of Triumph Group in a report on Wednesday, July 27th. Credit Suisse Group AG reissued a “buy” rating and issued a $44.00 price target on shares of Triumph Group in a report on Friday, July 29th. Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of Triumph Group in a report on Monday, June 13th. Finally, Canaccord Genuity reissued a “hold” rating on shares of Triumph Group in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Triumph Group presently has an average rating of “Buy” and an average target price of $45.92.
The company has a 50-day moving average price of $33.46 and a 200 day moving average price of $34.07. The firm’s market cap is $1.59 billion.
Triumph Group (NYSE:TGI) last announced its earnings results on Thursday, July 28th. The company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.10. The business had revenue of $893.30 million for the quarter, compared to analysts’ expectations of $896.80 million. During the same period in the prior year, the company posted $1.31 earnings per share. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities analysts forecast that Triumph Group Inc. will post $3.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a $0.04 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.50%.
A hedge fund recently raised its stake in Triumph Group stock. BlackRock Advisors LLC boosted its position in Triumph Group Inc. (NYSE:TGI) by 224.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 708,865 shares of the company’s stock after buying an additional 490,207 shares during the period. BlackRock Advisors LLC owned approximately 1.44% of Triumph Group worth $28,177,000 as of its most recent SEC filing.
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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