Triumph Group (NYSE:TGI) Hits New 52-Week High – What’s Next?

Triumph Group, Inc. (NYSE:TGI)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $19.71 and last traded at $19.04, with a volume of 299159 shares trading hands. The stock had previously closed at $16.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays dropped their price target on Triumph Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. downgraded Triumph Group from a “neutral” rating to an “underweight” rating and cut their target price for the company from $15.00 to $12.00 in a research report on Monday, October 14th. Truist Financial decreased their price objective on shares of Triumph Group from $15.00 to $12.00 and set a “hold” rating for the company in a research note on Friday, October 18th. Bank of America lowered Triumph Group from a “buy” rating to an “underperform” rating and cut their price target for the company from $17.00 to $12.00 in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group lowered Triumph Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $19.00 to $15.00 in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.78.

Triumph Group Price Performance

The firm has a market cap of $1.44 billion, a PE ratio of 2.95 and a beta of 2.48. The business has a 50-day moving average price of $13.82 and a two-hundred day moving average price of $14.44.

Hedge Funds Weigh In On Triumph Group

A number of large investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its holdings in Triumph Group by 12.5% in the second quarter. Point72 Asset Management L.P. now owns 1,516,707 shares of the aerospace company’s stock valued at $23,372,000 after acquiring an additional 168,607 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Triumph Group by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,054,841 shares of the aerospace company’s stock worth $16,254,000 after purchasing an additional 116,900 shares during the period. Assenagon Asset Management S.A. increased its position in Triumph Group by 140.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,031,717 shares of the aerospace company’s stock worth $13,299,000 after purchasing an additional 603,067 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Triumph Group by 6.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 958,100 shares of the aerospace company’s stock worth $14,764,000 after buying an additional 57,700 shares during the period. Finally, First Eagle Investment Management LLC grew its position in Triumph Group by 11.2% in the second quarter. First Eagle Investment Management LLC now owns 698,712 shares of the aerospace company’s stock valued at $10,767,000 after acquiring an additional 70,500 shares in the last quarter. Hedge funds and other institutional investors own 94.53% of the company’s stock.

Triumph Group Company Profile

Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aircraft, 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, cyber protected process controllers, 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.