Triumph Group (TGI) Downgraded by Zacks Investment Research to Strong Sell
Zacks Investment Research cut shares of Triumph Group (NYSE:TGI) from a hold rating to a strong sell rating in a research note released on Wednesday.
According to Zacks, “A large percentage of Triumph Group’s aftermarket sales come from third-party repair and overhaul thus exposing it to tough competition from OEMs as well as third-party organizations. Further, Triumph Group underperformed the broader industry over the last year. The company’s performance also depends largely on the orders of defense majors like Boeing. A considerable reduction in purchases by Boeing may have a material adverse impact on the company’s financial performance. However, its focus on driving organic growth has been reasonably strong based on the addition of products and services, expansion of operating capacity and marketing of a range of products.”
Other equities research analysts also recently issued reports about the company. SunTrust Banks upped their price objective on Triumph Group to $34.00 and gave the company a hold rating in a research report on Thursday, November 9th. Canaccord Genuity reiterated a hold rating and issued a $36.00 price target (up from $30.00) on shares of Triumph Group in a report on Thursday, November 9th. Cowen reiterated a hold rating and issued a $30.00 price target on shares of Triumph Group in a report on Thursday, November 9th. Robert W. Baird reissued a buy rating and issued a $34.00 price objective on shares of Triumph Group in a research report on Thursday, October 12th. Finally, TheStreet cut Triumph Group from a c- rating to a d+ rating in a research report on Wednesday, December 27th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $33.11.
Shares of Triumph Group (NYSE TGI) traded up $0.70 during trading on Wednesday, reaching $29.35. The company’s stock had a trading volume of 629,032 shares, compared to its average volume of 422,460. The company has a quick ratio of 0.42, a current ratio of 1.87 and a debt-to-equity ratio of 1.65. The stock has a market cap of $1,457.14, a PE ratio of -13.78, a P/E/G ratio of 0.71 and a beta of 1.76. Triumph Group has a 1-year low of $19.65 and a 1-year high of $34.80.
Triumph Group (NYSE:TGI) last released its earnings results on Wednesday, November 8th. The aerospace company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.20. The business had revenue of $745.16 million for the quarter, compared to the consensus estimate of $787.90 million. Triumph Group had a positive return on equity of 27.18% and a negative net margin of 3.18%. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 earnings per share. sell-side analysts forecast that Triumph Group will post 2.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Thursday, November 30th. Triumph Group’s payout ratio is -7.51%.
In other Triumph Group news, Director Joseph Silvestri sold 34,162 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $30.31, for a total value of $1,035,450.22. Following the completion of the transaction, the director now owns 109,078 shares in the company, valued at $3,306,154.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel J. Crowley sold 78,900 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $31.35, for a total transaction of $2,473,515.00. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lathrop Investment Management Corp boosted its position in Triumph Group by 39.7% during the fourth quarter. Lathrop Investment Management Corp now owns 304,230 shares of the aerospace company’s stock worth $8,275,000 after acquiring an additional 86,411 shares during the last quarter. Dean Investment Associates LLC acquired a new position in shares of Triumph Group in the 3rd quarter valued at about $3,282,000. Walthausen & Co. LLC acquired a new position in shares of Triumph Group in the 3rd quarter valued at about $20,635,000. Maple Rock Capital Partners Inc. boosted its stake in Triumph Group by 3.2% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 800,000 shares of the aerospace company’s stock valued at $23,800,000 after purchasing an additional 25,000 shares during the period. Finally, Vident Investment Advisory LLC bought a new stake in shares of Triumph Group in the 3rd quarter worth approximately $2,792,000. 99.77% of the stock is owned by hedge funds and other institutional investors.
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About Triumph Group
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