Mon, May 11, 10:46 AM
- RBC Capital has upgraded Triumph Group (TGI +1.2%) to Outperform from Sector Perform, citing restructuring efforts, as well as good performance and tailwinds.
- "TGI is now in transition, with new leadership plus a comprehensive review of the portfolio and operations," said Analyst Steven Cahall. "Performance is also improving...In our view, the stock is still cheap so this is the ideal backdrop for a turnaround story with plenty of share price upside."
- The firm also raised its price target on the stock to $82 from $64.
Thu, May 7, 6:06 PM
Tue, Apr. 28, 3:11 PM
Fri, Feb. 13, 9:27 AM
Thu, Jan. 29, 1:33 AM
Tue, Jan. 27, 5:35 PM| 4 Comments
Mon, Jan. 5, 9:59 AM
- Triumph Group (TGI -1.1%) has announced the closing of the previously announced agreement with Spirit AeroSystems (SPR -0.2%) to take over production of the Gulfstream G650 and G280 wing programs in Tulsa, Oklahoma.
- The company received $160M in cash plus assets from Spirit to run the business and to cover the anticipated future cash flow needs of the programs.
- The business is expected to to be immediately accretive to Triumph's EPS an add approximately $250M to annual revenue.
- Previously: Spirit to transfer Gulfstream wing programs to Triumph (Dec. 09 2014)
Dec. 9, 2014, 8:35 AM
- Spirit AeroSystems (NYSE:SPR) has reached an agreement to transfer its Gulfstream G650 and G280 wing programs in Tulsa, Oklahoma to Triumph Group (NYSE:TGI).
- Under the terms of the agreement, Triumph will receive $160M in cash plus assets required to run the business from Spirit to cover the anticipated future cash flow needs of the programs.
- The transaction is an estimated loss in the range of $205M-$235M ($1.45-$1.65 per diluted share) and is expected to close in 2014.
- SPR -3% premarket
Nov. 17, 2014, 12:19 PM
Oct. 29, 2014, 7:13 PM
Oct. 17, 2014, 2:57 PM
- Triumph Group (TGI +1.7%) earlier announced the acquisition of North American Aircraft Services, a provider of aviation maintenance, repair and overhaul services focused primarily on plane-side aircraft fuel systems.
- TGI expects the business to add ~$35Myear in revenues and to be immediately accretive to earnings.
- Financial terms are not disclosed.
Jul. 30, 2014, 6:04 PM
Jul. 21, 2014, 3:30 PM
Jun. 19, 2014, 7:27 AM
- Eaton (ETN) has settled a lawsuit with Triumph (TGI) in a decade-long battle over trade secret theft. The company has agreed to pay Triumph (formerly Frisby Aerospace) $147.5M.
- The settlement comes after Meritor received court approval yesterday to seek damages (of up to $2B) in an anti-trust case against Eaton.
May 7, 2014, 7:08 PM
Apr. 29, 2014, 2:25 PM
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