Marshall Wace LLP Buys 247,117 Shares of Triumph Group, Inc. (NYSE:TGI)
Marshall Wace LLP increased its stake in Triumph Group, Inc. (NYSE:TGI) by 318.2% in Q2, acquiring 247,117 shares, bringing its total to 324,778 shares. Other institutional investors also raised their holdings. Analysts have downgraded the stock's ratings and price targets, with a consensus rating of "Hold" and a target price of $10.67. Triumph Group reported a quarterly EPS of -$0.06, missing estimates, with revenue up 6.5% year-over-year. The stock opened at $10.80, with a market cap of $1.44 billion and a PE ratio of 1.93.
Marshall Wace LLP lifted its stake in shares of Triumph Group, Inc. (NYSE:TGI - Free Report) by 318.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 324,778 shares of the aerospace company's stock after buying an additional 247,117 shares during the period. Marshall Wace LLP owned about 0.42% of Triumph Group worth $5,005,000 as of its most recent SEC filing.
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Other institutional investors also recently modified their holdings of the company. Public Sector Pension Investment Board raised its holdings in Triumph Group by 6.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 169,132 shares of the aerospace company's stock valued at $2,606,000 after buying an additional 9,642 shares during the last quarter. Gabelli Funds LLC increased its position in Triumph Group by 80.2% in the 2nd quarter. Gabelli Funds LLC now owns 66,300 shares of the aerospace company's stock valued at $1,022,000 after acquiring an additional 29,500 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Triumph Group during the second quarter worth $125,000. Intech Investment Management LLC acquired a new stake in Triumph Group in the second quarter valued at $326,000. Finally, XTX Topco Ltd bought a new position in Triumph Group during the 2nd quarter worth $689,000. 94.53% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Bank of America lowered Triumph Group from a "buy" rating to an "underperform" rating and reduced their price target for the company from $17.00 to $12.00 in a research report on Tuesday, September 24th. Truist Financial downgraded shares of Triumph Group from a "buy" rating to a "hold" rating and decreased their target price for the company from $17.00 to $15.00 in a research report on Wednesday, August 21st. Jefferies Financial Group restated a "hold" rating and issued a $14.00 price target (down previously from $20.00) on shares of Triumph Group in a research report on Monday, August 12th. Barclays decreased their price objective on shares of Triumph Group from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, August 12th. Finally, The Goldman Sachs Group lowered shares of Triumph Group from a "buy" rating to a "neutral" rating and dropped their target price for the company from $19.00 to $15.00 in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Triumph Group presently has a consensus rating of "Hold" and a consensus price target of $15.67.
View Our Latest Stock Analysis on Triumph Group
Triumph Group Stock Performance
Shares of Triumph Group stock opened at $12.80 on Wednesday. The stock has a market capitalization of $989.44 million, a PE ratio of 1.93, a price-to-earnings-growth ratio of 15.94 and a beta of 2.50. Triumph Group, Inc. has a 52 week low of $7.00 and a 52 week high of $17.87. The stock has a 50 day moving average price of $13.89 and a two-hundred day moving average price of $14.35.
Triumph Group (NYSE:TGI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The aerospace company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). Triumph Group had a net margin of 40.39% and a negative return on equity of 1.77%. The business had revenue of $281.00 million for the quarter, compared to the consensus estimate of $274.64 million. During the same quarter last year, the firm posted ($0.10) EPS. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts forecast that Triumph Group, Inc. will post 0.47 EPS for the current year.
Triumph Group Profile
(Free Report)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.
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