Triumph Group, Inc. ( TGI - Analyst Report ) has generated an average surprise of more than 15% over the past 4 quarters, and is scheduled to report fiscal second quarter results later this month. With shares nearing a 52-week high and a price-to-earnings (P/E) ratio of just 11.1, this Zacks #1 Rank (Strong Buy) supplier of aerospace/defense products and services presents an attractive option for value investors.

Driving Catalyst

Triumph Group is scheduled to release its fiscal second quarter financial results on October 30, 2012. The Zacks Consensus Estimate currently stands at $1.33 per share.

Higher revenue across segments, operating income growth and margin expansion are likely to drive results. Other benefits include its steady backlog, stronger balance sheet and significant cash flow generation.

Over the last few quarters, the company has been performing well and posted a 14.7% earnings surprise in the fiscal first quarter 2013, as earnings per share of $1.48 outperformed the Zacks Consensus Estimate of $1.29.

Earnings Estimates Move Higher

The Zacks Consensus Estimate for this fiscal year is up 3% in the past 90 days to $5.78, including a rise of 0.3% in 30 days. The Zacks Consensus Estimate for next fiscal year has gained 1.6% in 3 months to $6.39 with a 0.5% move higher in the past month.

These outlooks represent year-over-year earnings growth of 15.3% for 2013 and 10.7% for 2014.

A Value Play

In addition to an attractive P/E multiple, Triumph Group is currently trading at a P/S ratio of 0.9 and at a P/B ratio of just 1.7. A P/E ratio below 15.0, a P/B ratio under 3.0 and a P/S ratio lower than 1.0 generally indicate value.

As can be observed from the chart below, shares have been trending higher since 2009. Also, prospects are bright, as can be seen from the rising Zacks Consensus Estimates for the years ahead.

Triumph Group Inc. is headquartered in Wayne, Pennsylvania and was founded in 1993. The company operates in the aerospace industry and provides various products and services to its vast client base, including commercial and regional airlines, air cargo carriers, as well as original equipment manufacturers (OEMs) of commercial, regional, business and military aircraft. Currently, the company has a market capitalization of approximately $3.2 billion.

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