Triumph Group (NYSE:TGI) Shares Gap Down to $19.42

Triumph Group, Inc. (NYSE:TGI) shares gapped down prior to trading on Thursday . The stock had previously closed at $19.42, but opened at $19.02. Triumph Group shares last traded at $18.85, with a volume of 490 shares traded.

Separately, Canaccord Genuity reaffirmed a “buy” rating on shares of Triumph Group in a research report on Thursday, June 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Triumph Group has a consensus rating of “Hold” and a consensus price target of $14.83.

The firm’s 50-day moving average is $19.38.

Triumph Group (NYSE:TGI) last released its earnings results on Wednesday, May 19th. The aerospace company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The firm had revenue of $466.80 million during the quarter, compared to analysts’ expectations of $437.15 million. Triumph Group had a negative net margin of 24.20% and a negative return on equity of 2.74%. The business’s quarterly revenue was down 32.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. Analysts anticipate that Triumph Group, Inc. will post 0.62 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Triumph Group by 3.7% during the first quarter. BlackRock Inc. now owns 8,693,279 shares of the aerospace company’s stock valued at $159,782,000 after acquiring an additional 309,727 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Triumph Group by 8.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,514,430 shares of the aerospace company’s stock worth $138,115,000 after purchasing an additional 557,848 shares in the last quarter. Cannell Peter B & Co. Inc. bought a new stake in shares of Triumph Group during the first quarter valued at approximately $26,846,000. Victory Capital Management Inc. acquired a new position in shares of Triumph Group in the first quarter valued at $19,893,000. Finally, Royce & Associates LP boosted its stake in Triumph Group by 94.9% during the first quarter. Royce & Associates LP now owns 1,052,566 shares of the aerospace company’s stock worth $19,346,000 after buying an additional 512,500 shares in the last quarter. Institutional investors and hedge funds own 89.46% of the company’s stock.

About Triumph Group (NYSE:TGI)

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 Aerospace Structures. 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.

Further Reading: What is a portfolio manager?

Receive News & Ratings for Triumph Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triumph Group and related companies with MarketBeat.com's FREE daily email newsletter.