Triumph Group, Inc. (NYSE:TGI) Bonds Rise 1.4% During Trading

An issue of Triumph Group, Inc. (NYSE:TGI) bonds rose 1.4% as a percentage of their face value during trading on Tuesday. The high-yield debt issue has a 5.25% coupon and will mature on June 1, 2022. The debt is now trading at $95.63 and was trading at $99.75 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.

TGI has been the subject of a number of analyst reports. Royal Bank Of Canada restated a “buy” rating and set a $35.00 price target on shares of Triumph Group in a research note on Friday, May 19th. Jefferies Group LLC set a $29.00 price target on shares of Triumph Group and gave the stock a “buy” rating in a research note on Saturday, May 6th. ValuEngine raised shares of Triumph Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. TheStreet raised shares of Triumph Group from a “d+” rating to a “c-” rating in a report on Wednesday, July 26th. Finally, Canaccord Genuity raised their price objective on shares of Triumph Group from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, May 25th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $29.64.

Triumph Group, Inc. (NYSE TGI) traded down 1.56% during midday trading on Friday, reaching $25.30. 894,074 shares of the company traded hands. Triumph Group, Inc. has a 12-month low of $19.65 and a 12-month high of $34.80. The company has a 50 day moving average of $29.84 and a 200-day moving average of $27.82. The stock’s market capitalization is $1.26 billion.

Triumph Group (NYSE:TGI) last released its earnings results on Wednesday, July 26th. The aerospace company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.63. The business had revenue of $781.70 million during the quarter, compared to analysts’ expectations of $804.26 million. Triumph Group had a positive return on equity of 28.96% and a negative net margin of 1.89%. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 earnings per share. Equities analysts anticipate that Triumph Group, Inc. will post $1.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Wednesday, August 30th. Triumph Group’s dividend payout ratio is presently -12.12%.

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Triumph Group by 8.0% in the first quarter. Bank of Montreal Can now owns 5,252 shares of the aerospace company’s stock worth $135,000 after buying an additional 391 shares in the last quarter. Capstone Asset Management Co. purchased a new position in shares of Triumph Group during the first quarter worth about $278,000. Louisiana State Employees Retirement System boosted its position in shares of Triumph Group by 64.2% in the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the aerospace company’s stock worth $520,000 after buying an additional 7,900 shares during the last quarter. Sanders Morris Harris Inc. purchased a new position in shares of Triumph Group during the first quarter worth about $1,561,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Triumph Group during the first quarter worth about $140,000. 99.84% of the stock is currently owned by hedge funds and other institutional investors.

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