Triumph Group Receives New Coverage from Analysts at Canaccord Genuity (TGI)
Research analysts at Canaccord Genuity assumed coverage on shares of Triumph Group (NYSE:TGI) in a report released on Thursday, AR Network reports. The firm set a “hold” rating and a $77.00 price target on the stock. Canaccord Genuity’s target price indicates a potential upside of 11.24% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of Triumph Group (TGI) with a HOLD rating and a $77 price target. We believe TGI is facing increased revenue and EPS pressure as programs mature (C-17, 747-8) and is increasingly reliant on acquisitions to hit 2016 goals, which brings additional risk, in our view.”
Shares of Triumph Group (NYSE:TGI) opened at 69.22 on Thursday. Triumph Group has a 1-year low of $60.79 and a 1-year high of $85.50. The stock’s 50-day moving average is $72.81 and its 200-day moving average is $76.94. The company has a market cap of $3.517 billion and a price-to-earnings ratio of 12.12.
Triumph Group (NYSE:TGI) last announced its earnings results on Thursday, July 25th. The company reported $1.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.53 by $0.01. The company had revenue of $943.68 million for the quarter, compared to the consensus estimate of $965.99 million. During the same quarter last year, the company posted $1.48 earnings per share. Triumph Group’s revenue was up 6.3% compared to the same quarter last year. Analysts expect that Triumph Group will post $5.46 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on TGI. Analysts at Ned Davis Research downgraded shares of Triumph Group from a “buy” rating to a “neutral” rating in a research note to investors on Monday, September 30th. Separately, analysts at UBS AG cut their price target on shares of Triumph Group from $94.00 to $85.00 in a research note to investors on Tuesday, September 24th. They now have a “buy” rating on the stock. Finally, analysts at Sterne Agee cut their price target on shares of Triumph Group from $92.00 to $85.00 in a research note to investors on Thursday, September 19th. They now have a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $85.08.
Triumph Group, Inc (NYSE:TGI) designs, engineers, manufactures, repairs, overhauls and distributes a portfolio of aerostructures, aircraft components, accessories, subassemblies and systems.
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