Triumph Group (NYSE:TGI) Hits New 52-Week High – Time to Buy?

Shares of Triumph Group, Inc. (NYSE:TGI) hit 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 Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. downgraded Triumph Group from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $15.00 to $12.00 in a research note on Monday, October 14th. Bank of America downgraded Triumph Group from a “buy” rating to an “underperform” rating and decreased their target price for the company from $17.00 to $12.00 in a research note on Tuesday, September 24th. Jefferies Financial Group restated a “hold” rating and issued a $14.00 target price (down from $20.00) on shares of Triumph Group in a research note on Monday, August 12th. Truist Financial lifted their target price on Triumph Group from $12.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, The Goldman Sachs Group downgraded Triumph Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $19.00 to $15.00 in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $16.11.

Triumph Group Price Performance

The stock has a market cap of $1.42 billion, a P/E ratio of 2.69 and a beta of 2.48. The company has a fifty day moving average of $14.02 and a 200 day moving average of $14.50.

Institutional Investors Weigh In On Triumph Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Triumph Group during the 1st quarter valued at $13,542,000. Assenagon Asset Management S.A. lifted its holdings in shares of Triumph Group by 140.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,031,717 shares of the aerospace company’s stock valued at $13,299,000 after purchasing an additional 603,067 shares in the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of Triumph Group by 199.6% in the first quarter. Kennedy Capital Management LLC now owns 450,918 shares of the aerospace company’s stock valued at $6,782,000 after purchasing an additional 300,407 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Triumph Group by 318.2% in the second quarter. Marshall Wace LLP now owns 324,778 shares of the aerospace company’s stock valued at $5,005,000 after purchasing an additional 247,117 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Triumph Group by 85,638.8% in the second quarter. Nisa Investment Advisors LLC now owns 187,768 shares of the aerospace company’s stock valued at $2,894,000 after purchasing an additional 187,549 shares in the last quarter. Institutional investors own 94.53% of the company’s stock.

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.