Triumph Group (NYSE:TGI) Hits New 1-Year High – Here’s Why

Triumph Group, Inc. (NYSE:TGI) shares 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 changing hands. The stock had previously closed at $16.27.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TGI shares. Barclays lowered their price objective on Triumph Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Jefferies Financial Group restated a “hold” rating and issued a $14.00 price objective (down from $20.00) on shares of Triumph Group in a research report on Monday, August 12th. Bank of America cut shares of Triumph Group from a “buy” rating to an “underperform” rating and cut their price target for the stock from $17.00 to $12.00 in a research note on Tuesday, September 24th. Truist Financial cut their target price on Triumph Group from $15.00 to $12.00 and set a “hold” rating for the company in a research note on Friday, October 18th. Finally, The Goldman Sachs Group lowered shares of Triumph Group from a “buy” rating to a “neutral” rating and lowered their price target 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 given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.78.

Triumph Group Price Performance

The firm has a 50-day simple moving average of $13.82 and a 200-day simple moving average of $14.44. The firm has a market capitalization of $1.44 billion, a PE ratio of 2.95 and a beta of 2.48.

Hedge Funds Weigh In On Triumph Group

Several large investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in Triumph Group during the first quarter valued at approximately $35,000. Quest Partners LLC purchased a new stake in Triumph Group in the 2nd quarter worth about $41,000. Lazard Asset Management LLC boosted its position in shares of Triumph Group by 98.3% during the first quarter. Lazard Asset Management LLC now owns 3,877 shares of the aerospace company’s stock valued at $58,000 after buying an additional 1,922 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Triumph Group during the 1st quarter valued at about $56,000. Finally, CWM LLC increased its position in shares of Triumph Group by 473.7% during the second quarter. CWM LLC now owns 5,146 shares of the aerospace company’s stock worth $79,000 after acquiring an additional 4,249 shares during the period. 94.53% of the stock is currently owned by hedge funds and other institutional investors.

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.