Triumph Group (NYSE:TGI) Stock Price Down 6.2% – What’s Next?

Shares of Triumph Group, Inc. (NYSE:TGI) were down 6.2% during trading on Wednesday . The company traded as low as $17.54 and last traded at $17.54. Approximately 132,270 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 383,188 shares. The stock had previously closed at $18.70.

Wall Street Analyst Weigh In

TGI has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Triumph Group from $16.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Bank of America downgraded Triumph Group from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $17.00 to $12.00 in a research report on Tuesday, September 24th. StockNews.com upgraded shares of Triumph Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Truist Financial upped their price target on Triumph Group from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered Triumph Group from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $15.00 to $12.00 in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.78.

Triumph Group Stock Down 2.4 %

The stock’s 50 day moving average price is $18.43 and its 200-day moving average price is $15.80. The stock has a market capitalization of $1.41 billion, a PE ratio of 2.68 and a beta of 2.53.

Institutional Investors Weigh In On Triumph Group

Large investors have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of Triumph Group by 1.6% in the second quarter. Rhumbline Advisers now owns 256,020 shares of the aerospace company’s stock worth $3,945,000 after purchasing an additional 4,075 shares during the last quarter. Quest Partners LLC bought a new stake in Triumph Group during the second quarter valued at about $41,000. Texas Permanent School Fund Corp lifted its stake in shares of Triumph Group by 20.8% during the second quarter. Texas Permanent School Fund Corp now owns 78,718 shares of the aerospace company’s stock worth $1,213,000 after buying an additional 13,547 shares during the period. Dimensional Fund Advisors LP raised its position in 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 buying an additional 116,900 shares during the last quarter. Finally, Old West Investment Management LLC lifted its holdings in shares of Triumph Group by 11.8% in the 2nd quarter. Old West Investment Management LLC now owns 41,861 shares of the aerospace company’s stock valued at $645,000 after buying an additional 4,423 shares during the period. 94.53% of the stock is owned by institutional investors.

About Triumph Group

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.