Triumph Group (NYSE:TGI) Sets New 12-Month High on Better-Than-Expected Earnings

Triumph Group Inc (NYSE:TGI)’s stock price reached a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $27.62 and last traded at $26.92, with a volume of 142248 shares. The stock had previously closed at $22.77.

The aerospace company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.04. The firm had revenue of $772.10 million for the quarter, compared to analysts’ expectations of $717.39 million. Triumph Group had a negative return on equity of 29.65% and a negative net margin of 6.96%. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 EPS.

TGI has been the topic of a number of recent analyst reports. Cowen restated a “hold” rating and issued a $22.00 price target on shares of Triumph Group in a research report on Thursday. ValuEngine upgraded Triumph Group from a “strong sell” rating to a “sell” rating in a research report on Friday. Finally, Barclays cut Triumph Group from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $23.00 to $20.00 in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.58.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its position in shares of Triumph Group by 0.6% in the second quarter. Arizona State Retirement System now owns 77,413 shares of the aerospace company’s stock worth $1,773,000 after purchasing an additional 483 shares during the period. Hanson & Doremus Investment Management grew its position in Triumph Group by 1.7% in the second quarter. Hanson & Doremus Investment Management now owns 40,191 shares of the aerospace company’s stock valued at $920,000 after acquiring an additional 653 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Triumph Group by 3.7% in the second quarter. Envestnet Asset Management Inc. now owns 19,449 shares of the aerospace company’s stock valued at $445,000 after acquiring an additional 696 shares during the last quarter. MainStreet Investment Advisors LLC grew its position in Triumph Group by 5.7% in the second quarter. MainStreet Investment Advisors LLC now owns 17,652 shares of the aerospace company’s stock valued at $404,000 after acquiring an additional 948 shares during the last quarter. Finally, Pinebridge Investments L.P. grew its position in Triumph Group by 2.1% in the second quarter. Pinebridge Investments L.P. now owns 49,362 shares of the aerospace company’s stock valued at $1,130,000 after acquiring an additional 994 shares during the last quarter.

The stock has a 50-day simple moving average of $21.85 and a 200-day simple moving average of $22.02. The stock has a market cap of $1.33 billion, a P/E ratio of 11.12, a PEG ratio of 1.88 and a beta of 2.75.

About Triumph Group (NYSE:TGI)

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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