Triumph Group, Inc. (TGI) Given “Underperform” Rating at Bank of America Corporation
Bank of America Corporation reissued their underperform rating on shares of Triumph Group, Inc. (NYSE:TGI) in a research report released on Saturday morning. The firm currently has a $27.00 price objective on the aerospace company’s stock, down from their prior price objective of $30.00.
A number of other equities analysts have also recently issued reports on TGI. Jefferies Group LLC set a $29.00 target price on Triumph Group and gave the stock a buy rating in a report on Saturday, May 6th. Zacks Investment Research cut Triumph Group from a hold rating to a sell rating in a report on Wednesday, May 10th. Robert W. Baird upgraded Triumph Group from an underperform rating to an outperform rating and increased their target price for the stock from $25.00 to $30.00 in a report on Tuesday, May 16th. Royal Bank Of Canada reiterated a buy rating and set a $35.00 target price on shares of Triumph Group in a report on Friday, May 19th. Finally, Vertical Research upgraded Triumph Group from a sell rating to a hold rating and increased their target price for the stock from $24.00 to $31.00 in a report on Wednesday, May 24th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $30.00.
Triumph Group (NYSE:TGI) remained flat at $25.70 during trading on Friday. The stock had a trading volume of 402,810 shares. The company has a 50 day moving average price of $29.03 and a 200 day moving average price of $27.73. Triumph Group has a 12-month low of $19.65 and a 12-month high of $34.80. The company’s market cap is $1.28 billion.
Triumph Group (NYSE:TGI) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.63. Triumph Group had a negative net margin of 1.89% and a positive return on equity of 28.96%. The firm had revenue of $781.70 million during the quarter, compared to the consensus estimate of $804.26 million. During the same quarter in the prior year, the company earned $1.04 EPS. Triumph Group’s quarterly revenue was down 12.5% on a year-over-year basis. On average, analysts predict that Triumph Group will post $1.71 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.04 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.16 annualized dividend and a yield of 0.62%. Triumph Group’s dividend payout ratio (DPR) is currently -12.12%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its position in Triumph Group by 8.0% in the first quarter. Bank of Montreal Can now owns 5,252 shares of the aerospace company’s stock valued at $135,000 after buying an additional 391 shares in the last quarter. Capstone Asset Management Co. bought a new position in Triumph Group during the first quarter valued at $278,000. Louisiana State Employees Retirement System boosted its position in Triumph Group by 64.2% in the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the aerospace company’s stock valued at $520,000 after buying an additional 7,900 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Triumph Group during the first quarter valued at $140,000. Finally, State of New Jersey Common Pension Fund D boosted its position in Triumph Group by 2.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 900,000 shares of the aerospace company’s stock valued at $23,175,000 after buying an additional 20,000 shares in the last quarter. 99.84% of the stock is currently owned by hedge funds and other institutional investors.
About Triumph Group
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