Hsbc Holdings PLC Reduces Position in Triumph Group, Inc. (NYSE:TGI)

Hsbc Holdings PLC reduced its stake in shares of Triumph Group, Inc. (NYSE:TGI) by 19.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 538,985 shares of the aerospace company’s stock after selling 126,110 shares during the period. Hsbc Holdings PLC owned approximately 0.70% of Triumph Group worth $8,198,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in Triumph Group during the 1st quarter valued at about $35,000. Quest Partners LLC purchased a new stake in Triumph Group in the second quarter valued at approximately $41,000. DekaBank Deutsche Girozentrale acquired a new position in Triumph Group in the 1st quarter worth approximately $56,000. Lazard Asset Management LLC raised its position in Triumph Group by 98.3% during the 1st quarter. Lazard Asset Management LLC now owns 3,877 shares of the aerospace company’s stock worth $58,000 after buying an additional 1,922 shares during the last quarter. Finally, CWM LLC lifted its stake in Triumph Group by 473.7% during the 2nd quarter. CWM LLC now owns 5,146 shares of the aerospace company’s stock valued at $79,000 after acquiring an additional 4,249 shares during the period. 94.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TGI has been the subject of several recent research reports. StockNews.com cut shares of Triumph Group from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. TD Cowen reaffirmed a “hold” rating and set a $14.00 target price (down from $19.50) on shares of Triumph Group in a report on Tuesday, May 28th. Truist Financial downgraded Triumph Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $17.00 to $15.00 in a report on Wednesday, August 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $14.00 price objective (down previously from $20.00) on shares of Triumph Group in a research note on Monday, August 12th. Finally, 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. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.67.

Triumph Group Price Performance

Shares of Triumph Group stock opened at $13.55 on Tuesday. The business has a 50 day simple moving average of $14.39 and a two-hundred day simple moving average of $14.40. The stock has a market capitalization of $1.04 billion, a P/E ratio of 2.04, a PEG ratio of 15.75 and a beta of 2.50. Triumph Group, Inc. has a 12 month low of $7.00 and a 12 month high of $17.87.

Triumph Group (NYSE:TGI) last announced its quarterly earnings data 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). Triumph Group had a net margin of 40.39% and a negative return on equity of 1.77%. The firm had revenue of $281.00 million during the quarter, compared to analysts’ expectations of $274.64 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts anticipate that Triumph Group, Inc. will post 0.48 EPS for the current fiscal year.

Triumph Group 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.