JPMorgan Chase & Co. Upgrades Triumph Group (NYSE:TGI) to “Neutral”

JPMorgan Chase & Co. upgraded shares of Triumph Group (NYSE:TGI) from an underweight rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat.com reports. The brokerage currently has $17.00 price objective on the aerospace company’s stock, up from their prior price objective of $13.00.

Several other brokerages also recently weighed in on TGI. Truist Financial upped their target price on Triumph Group from $17.00 to $27.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. The Goldman Sachs Group initiated coverage on Triumph Group in a research note on Wednesday, March 20th. They issued a buy rating and a $18.00 price objective for the company. Barclays raised Triumph Group from an equal weight rating to an overweight rating and set a $20.00 price objective for the company in a research note on Friday, January 5th. Robert W. Baird raised Triumph Group from a neutral rating to an outperform rating and increased their price objective for the company from $13.00 to $20.00 in a research note on Tuesday, January 16th. Finally, Wolfe Research raised Triumph Group from a peer perform rating to an outperform rating and set a $18.00 price objective for the company in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $19.38.

Triumph Group Price Performance

Shares of TGI stock opened at $13.68 on Monday. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -20.11, a PEG ratio of 7.80 and a beta of 2.58. The stock has a 50 day simple moving average of $14.35 and a 200-day simple moving average of $12.67. Triumph Group has a 1-year low of $7.00 and a 1-year high of $17.27.

Triumph Group (NYSE:TGI) last announced its earnings results on Wednesday, February 7th. The aerospace company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.30). The business had revenue of $285.00 million for the quarter, compared to analyst estimates of $367.96 million. Triumph Group had a negative return on equity of 2.15% and a negative net margin of 3.49%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 earnings per share. Analysts anticipate that Triumph Group will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Triumph Group

In other Triumph Group news, Director Neal J. Keating purchased 7,200 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $14.53 per share, for a total transaction of $104,616.00. Following the acquisition, the director now owns 58,987 shares in the company, valued at approximately $857,081.11. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Triumph Group

Hedge funds have recently modified their holdings of the business. UBS Group AG grew its holdings in shares of Triumph Group by 112.9% during the 3rd quarter. UBS Group AG now owns 3,202 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 1,698 shares during the period. Signaturefd LLC boosted its holdings in Triumph Group by 298.4% during the 4th quarter. Signaturefd LLC now owns 2,506 shares of the aerospace company’s stock valued at $42,000 after acquiring an additional 1,877 shares during the period. Fifth Third Bancorp grew its position in Triumph Group by 1,980.2% in the 3rd quarter. Fifth Third Bancorp now owns 6,303 shares of the aerospace company’s stock valued at $48,000 after acquiring an additional 6,000 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Triumph Group in the 2nd quarter valued at about $53,000. Finally, Captrust Financial Advisors grew its position in Triumph Group by 141.0% in the 1st quarter. Captrust Financial Advisors now owns 2,902 shares of the aerospace company’s stock valued at $73,000 after acquiring an additional 1,698 shares in the last quarter. 94.53% of the stock is currently owned by hedge funds and other institutional investors.

About Triumph Group

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.