Triumph Group (NYSE:TGI) Shares Down 6.2% - Here's Why

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Triumph Group from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. Bank of America cut Triumph Group from a "buy" rating to an "underperform" rating and decreased their target price for the stock from $17.00 to $12.00 in a report on Tuesday, September 24th. Truist Financial upped their price target on Triumph Group from $18.00 to $19.00 and gave the stock a "hold" rating in a research report on Tuesday. JPMorgan Chase & Co. cut Triumph Group from a "neutral" rating to an "underweight" rating and lowered their price objective for the company from $15.00 to $12.00 in a research report on Monday, October 14th. Finally, TD Cowen upgraded shares of Triumph Group to a "hold" rating in a research note on Thursday, December 19th. Two 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $16.78.

Triumph Group Price Performance

The stock has a 50-day moving average price of $18.43 and a two-hundred day moving average price of $15.80. The stock has a market cap of $1.46 billion, a PE ratio of 2.77 and a beta of 2.53.

Institutional Trading of Triumph Group

A number of large investors have recently added to or reduced their stakes in TGI. Quest Partners LLC purchased a new position in shares of Triumph Group in the second quarter valued at $41,000. Canada Pension Plan Investment Board bought a new stake in shares of Triumph Group in the 2nd quarter worth about $125,000. International Assets Investment Management LLC increased its holdings in shares of Triumph Group by 1,189.0% in the 3rd quarter. International Assets Investment Management LLC now owns 10,312 shares of the aerospace company's stock worth $133,000 after buying an additional 9,512 shares during the last quarter. Centiva Capital LP bought a new position in shares of Triumph Group in the 3rd quarter valued at about $255,000. Finally, Intech Investment Management LLC purchased a new position in Triumph Group in the second quarter worth about $326,000. 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.