Triumph Group (NYSE:TGI) Sees Unusually-High Trading Volume Following Strong Earnings

Triumph Group, Inc. (NYSE:TGI) shares saw unusually-strong trading volume on Thursday following a stronger than expected earnings report. Approximately 941,749 shares traded hands during mid-day trading, an increase of 25% from the previous session’s volume of 752,254 shares.The stock last traded at $13.00 and had previously closed at $15.00.

The aerospace company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.22. Triumph Group had a negative return on equity of 2.15% and a negative net margin of 3.49%. The firm had revenue of $358.60 million for the quarter, compared to analyst estimates of $341.95 million. During the same period last year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis.

Analysts Set New Price Targets

TGI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised Triumph Group from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $13.00 to $17.00 in a report on Monday, April 15th. Bank of America raised Triumph Group from an “underperform” rating to a “buy” rating and increased their price target for the stock from $9.00 to $21.00 in a research note on Thursday, January 25th. The Goldman Sachs Group upped their price objective on shares of Triumph Group from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Wolfe Research upgraded shares of Triumph Group from a “peer perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.63.

Institutional Trading of Triumph Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Graham Capital Management L.P. lifted its position in shares of Triumph Group by 122.3% during the 3rd quarter. Graham Capital Management L.P. now owns 136,580 shares of the aerospace company’s stock valued at $1,046,000 after acquiring an additional 75,147 shares during the last quarter. Citigroup Inc. boosted its position in shares of Triumph Group by 46.0% in the 3rd quarter. Citigroup Inc. now owns 130,055 shares of the aerospace company’s stock valued at $996,000 after purchasing an additional 40,982 shares during the period. Assenagon Asset Management S.A. increased its stake in Triumph Group by 120.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 346,405 shares of the aerospace company’s stock worth $5,743,000 after purchasing an additional 189,161 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Triumph Group by 182.0% during the 4th quarter. BNP Paribas Financial Markets now owns 465,334 shares of the aerospace company’s stock worth $7,715,000 after buying an additional 300,295 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Triumph Group by 17.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 583,763 shares of the aerospace company’s stock valued at $4,472,000 after buying an additional 87,248 shares in the last quarter. 94.53% of the stock is owned by institutional investors and hedge funds.

Triumph Group Price Performance

The firm’s fifty day simple moving average is $14.03 and its 200 day simple moving average is $13.85. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -19.49, a PEG ratio of 13.87 and a beta of 2.55.

Triumph Group Company Profile

Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aerostructures, 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, exhaust nozzles and ducting, 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.