Zacks Investment Research upgraded shares of Triumph Group (NYSE:TGI) from a hold rating to a buy rating in a report issued on Monday morning, Zacks.com reports. The brokerage currently has $25.00 target price on the aerospace company’s stock.
According to Zacks, “Triumph Group’s focus on improving its organic growth has been reasonably strong, based on the addition of products and services as well as expansion of operating capacity. It is conducting vigorous divestiture of its non-core operations to strengthen the company’s balance sheet. Commercial narrow-body jet remains an important growth platform for Triumph Group, buoyed by increasing global demand for such jets. Its shares outperformed the industry in the past six months. However, a large portion of Triumph Group’s aftermarket sales comes from third-party repair and overhaul, thus exposing it to tough competition from OEMs. Moreover, volatile energy and commodity prices can put the company’s margins under pressure. Geopolitical security issues and currency fluctuations may further shrink profitability.”
Separately, ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $24.38.
Triumph Group (NYSE:TGI) last released its quarterly earnings data on Wednesday, May 8th. The aerospace company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.47. The company had revenue of $869.03 million during the quarter, compared to the consensus estimate of $842.57 million. Triumph Group had a negative net margin of 9.56% and a negative return on equity of 35.34%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. Research analysts anticipate that Triumph Group will post 2.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Friday, May 31st were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, May 30th. Triumph Group’s dividend payout ratio (DPR) is currently 6.43%.
Several institutional investors have recently made changes to their positions in TGI. Marshall Wace North America L.P. lifted its position in shares of Triumph Group by 138.3% in the first quarter. Marshall Wace North America L.P. now owns 15,393 shares of the aerospace company’s stock worth $294,000 after purchasing an additional 8,933 shares in the last quarter. MainStreet Investment Advisors LLC increased its holdings in Triumph Group by 44.9% during the first quarter. MainStreet Investment Advisors LLC now owns 16,704 shares of the aerospace company’s stock worth $318,000 after buying an additional 5,179 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Triumph Group during the first quarter worth $223,000. Ontario Teachers Pension Plan Board acquired a new position in Triumph Group during the first quarter worth $395,000. Finally, NumerixS Investment Technologies Inc acquired a new position in Triumph Group during the first quarter worth $86,000.
About Triumph Group
Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aerostructures, aircraft components, accessories, subassemblies, and systems worldwide. The company operates in three segments: Integrated Systems, Aerospace Structures, and Product Support. It offers aircraft and engine-mounted accessory drives, thermal control systems and components, cargo hooks, high lift actuations, cockpit control levers, hydraulic systems and components, landing gear actuation systems, control system valve bodies, landing gear components and assemblies, electronic engine controls, main engine gear box assemblies, exhaust nozzles and ducting, fuel pumps, geared transmissions and drive train components, secondary flight control systems, fuel metering units, and vibration absorbers.
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