Alpine Associates Management Inc. Invests $17.28 Million in Triumph Group, Inc. (NYSE:TGI)

Alpine Associates Management Inc. acquired a new position in shares of Triumph Group, Inc. (NYSE:TGI) during the first quarter, HoldingsChannel reports. The fund acquired 682,000 shares of the aerospace company’s stock, valued at approximately $17,282,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in Triumph Group by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 385,198 shares of the aerospace company’s stock valued at $9,761,000 after purchasing an additional 10,302 shares during the period. Raymond James Financial Inc. acquired a new position in Triumph Group during the 4th quarter valued at about $1,095,000. GAMMA Investing LLC lifted its position in Triumph Group by 3,263.7% during the 1st quarter. GAMMA Investing LLC now owns 20,855 shares of the aerospace company’s stock valued at $528,000 after purchasing an additional 20,235 shares during the period. Sei Investments Co. acquired a new position in Triumph Group during the 4th quarter valued at about $4,025,000. Finally, Northern Trust Corp lifted its position in Triumph Group by 9.3% during the 4th quarter. Northern Trust Corp now owns 789,407 shares of the aerospace company’s stock valued at $14,730,000 after purchasing an additional 67,204 shares during the period. Institutional investors own 94.53% of the company’s stock.

Triumph Group Price Performance

Shares of NYSE:TGI opened at $26.01 on Thursday. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 50.01 and a beta of 2.26. The firm’s 50 day simple moving average is $25.83 and its 200 day simple moving average is $24.81. Triumph Group, Inc. has a fifty-two week low of $11.01 and a fifty-two week high of $26.03.

Triumph Group (NYSE:TGI) last announced its quarterly earnings results on Wednesday, May 28th. The aerospace company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.17. The business had revenue of $377.90 million for the quarter, compared to the consensus estimate of $334.04 million. Triumph Group had a net margin of 3.24% and a negative return on equity of 74.53%. Triumph Group’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Equities research analysts expect that Triumph Group, Inc. will post 0.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on TGI. Wall Street Zen began coverage on shares of Triumph Group in a research report on Tuesday, May 20th. They set a “hold” rating on the stock. JPMorgan Chase & Co. upgraded shares of Triumph Group from an “underweight” rating to a “neutral” rating and upped their target price for the company from $17.00 to $26.00 in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.63.

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.