Triumph Group (NYSE:TGI) Shares Gap Down - Here's What Happened

Triumph Group, Inc. (NYSE:TGI - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $15.00, but opened at $14.09. Triumph Group shares last traded at $14.56, with a volume of 266,114 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TGI shares. Bank of America downgraded Triumph Group from a "buy" rating to an "underperform" rating and decreased their price objective for the company from $17.00 to $12.00 in a report on Tuesday, September 24th. Truist Financial cut shares of Triumph Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $17.00 to $15.00 in a research note on Wednesday, August 21st. 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 note on Monday, August 12th. Barclays decreased their target price on shares of Triumph Group from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. cut Triumph Group from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $15.00 to $12.00 in a research report on Monday. Two 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $15.11.

Triumph Group Trading Down 1.4 %

The stock has a fifty day simple moving average of $13.34 and a two-hundred day simple moving average of $14.29. The company has a market cap of $1.14 billion, a PE ratio of 2.19 and a beta of 2.49.

Triumph Group (NYSE:TGI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The aerospace company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The business had revenue of $281.00 million during the quarter, compared to analysts' expectations of $274.64 million. Triumph Group had a net margin of 40.39% and a negative return on equity of 1.77%. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) earnings per share. As a group, equities research analysts anticipate that Triumph Group, Inc. will post 0.44 EPS for the current fiscal year.

Institutional Trading of Triumph Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Triumph Group by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,021,354 shares of the aerospace company's stock worth $116,414,000 after buying an additional 110,375 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Triumph Group by 12.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,516,707 shares of the aerospace company's stock worth $23,372,000 after acquiring an additional 168,607 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Triumph Group by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,054,841 shares of the aerospace company's stock worth $16,254,000 after acquiring an additional 116,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Triumph Group by 6.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 958,100 shares of the aerospace company's stock valued at $14,764,000 after purchasing an additional 57,700 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its position in Triumph Group by 11.2% during the second quarter. First Eagle Investment Management LLC now owns 698,712 shares of the aerospace company's stock worth $10,767,000 after purchasing an additional 70,500 shares in the last quarter. Institutional investors and hedge funds 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.