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Triumph Group (TGI) Surges 7.3%: Is This an Indication of Further Gains?

Zacks Equity Research
·2-min read

Triumph Group (TGI) shares ended the last trading session 7.3% higher at $15.10. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.1% gain over the past four weeks.

Per a recent report by Reuters, Boeing is temporarily shifting some engineers from its experimental X-66A plane project to support the development and on-time delivery of its commercial programs like 737 and 777 jets. This must have boosted the share price of TGI, which is a major aircraft equipment supplier for Boeing.

This aircraft supplier is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +70%. Revenues are expected to be $269.91 million, down 17.5% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Triumph Group, the consensus EPS estimate for the quarter has been revised 139.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on TGI going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Triumph Group is part of the Zacks Aerospace - Defense Equipment industry. Kratos (KTOS), another stock in the same industry, closed the last trading session 2.4% higher at $20.65. KTOS has returned -4.9% in the past month.

For Kratos , the consensus EPS estimate for the upcoming report has changed +9.5% over the past month to $0.08. This represents a change of -11.1% from what the company reported a year ago. Kratos currently has a Zacks Rank of #3 (Hold).

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Triumph Group, Inc. (TGI) : Free Stock Analysis Report

Kratos Defense & Security Solutions, Inc. (KTOS) : Free Stock Analysis Report

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Zacks Investment Research