Triumph Group (NYSE:TGI) Cut to Underperform at Bank of America

Bank of America cut shares of Triumph Group (NYSE:TGI) from a buy rating to an underperform rating in a research note published on Tuesday, MarketBeat.com reports. The brokerage currently has $12.00 price objective on the aerospace company’s stock, down from their prior price objective of $17.00.

Several other brokerages also recently issued reports on TGI. The Goldman Sachs Group downgraded shares of Triumph Group from a buy rating to a neutral rating and lowered their price objective for the stock from $19.00 to $15.00 in a research note on Tuesday, August 13th. Truist Financial downgraded shares of Triumph Group from a buy rating to a hold rating and dropped their price objective for the stock from $17.00 to $15.00 in a report on Wednesday, August 21st. StockNews.com cut shares of Triumph Group from a buy rating to a hold rating in a research note on Saturday, June 1st. Barclays lowered their price target on Triumph Group from $18.00 to $16.00 and set an overweight rating on the stock in a research note on Monday, August 12th. Finally, TD Cowen reiterated a hold rating and issued a $14.00 price objective (down previously from $19.50) on shares of Triumph Group in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $15.67.

Triumph Group Price Performance

Triumph Group stock opened at $12.62 on Tuesday. Triumph Group has a fifty-two week low of $7.00 and a fifty-two week high of $17.87. The firm has a fifty day moving average price of $14.13 and a two-hundred day moving average price of $14.37. The firm has a market cap of $975.90 million, a price-to-earnings ratio of 1.90, a P/E/G ratio of 16.21 and a beta of 2.50.

Triumph Group (NYSE:TGI) last posted its quarterly earnings data on Wednesday, August 7th. The aerospace company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $281.00 million for the quarter, compared to analyst estimates of $274.64 million. Triumph Group had a negative return on equity of 1.77% and a net margin of 40.39%. Triumph Group’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) EPS. As a group, sell-side analysts expect that Triumph Group will post 0.47 earnings per share for the current year.

Institutional Trading of Triumph Group

A number of large investors have recently bought and sold shares of TGI. Jade Capital Advisors LLC lifted its holdings in shares of Triumph Group by 48.4% during the fourth quarter. Jade Capital Advisors LLC now owns 460,000 shares of the aerospace company’s stock valued at $7,627,000 after acquiring an additional 150,000 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Triumph Group by 58.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 428,650 shares of the aerospace company’s stock worth $6,605,000 after purchasing an additional 158,893 shares in the last quarter. Vision One Management Partners LP acquired a new stake in shares of Triumph Group during the 4th quarter worth about $34,587,000. Gamco Investors INC. ET AL bought a new position in Triumph Group during the 1st quarter valued at about $1,545,000. Finally, ProShare Advisors LLC boosted its position in Triumph Group by 7.2% in the first quarter. ProShare Advisors LLC now owns 13,263 shares of the aerospace company’s stock valued at $199,000 after buying an additional 892 shares in the last quarter. 94.53% of the stock is currently owned by institutional investors.

About Triumph Group

Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aircraft, aircraft components, accessories, subassemblies, and systems worldwide. It operates in two segments, Triumph Systems & Support, and Triumph Interiors. The company offers aircraft and engine-mounted accessory drives, thermal control systems and components, cargo hooks, high lift actuations, cockpit control levers, hydraulic systems and components, control system valve bodies, landing gear actuation systems, electronic engine controls, landing gear components and assemblies, cyber protected process controllers, main engine gearbox assemblies, geared transmissions and drive train components, main fuel pumps, fuel-metering units, primary and secondary flight control systems, and vibration absorbers.