Alpine Associates Management Inc. Acquires New Position in Triumph Group, Inc. (NYSE:TGI)

Alpine Associates Management Inc. purchased a new stake in Triumph Group, Inc. (NYSE:TGI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 682,000 shares of the aerospace company's stock, valued at approximately $17,282,000. Alpine Associates Management Inc. owned 0.88% of Triumph Group at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TGI. Sterling Capital Management LLC boosted its holdings in shares of Triumph Group by 804.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,351 shares of the aerospace company's stock worth $44,000 after buying an additional 2,091 shares during the last quarter. KBC Group NV bought a new position in shares of Triumph Group in the 1st quarter worth $79,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Triumph Group by 58.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,761 shares of the aerospace company's stock worth $126,000 after purchasing an additional 2,484 shares during the last quarter. Optimist Retirement Group LLC purchased a new stake in Triumph Group in the first quarter worth approximately $284,000. Finally, Brevan Howard Capital Management LP grew its holdings in shares of Triumph Group by 17.1% during the 4th quarter. Brevan Howard Capital Management LP now owns 12,306 shares of the aerospace company's stock valued at $230,000 after purchasing an additional 1,798 shares during the last quarter. Institutional investors and hedge funds own 94.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TGI. Wall Street Zen started coverage on Triumph Group in a research report on Tuesday, May 20th. They issued a "hold" rating for the company. JPMorgan Chase & Co. upgraded Triumph Group from an "underweight" rating to a "neutral" rating and raised their target price for the company from $17.00 to $26.00 in a research note 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. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $20.63.

Triumph Group Price Performance

NYSE TGI traded up $0.16 during mid-day trading on Friday, reaching $26.01. The stock had a trading volume of 6,527,511 shares, compared to its average volume of 1,331,459. The stock has a market cap of $2.02 billion, a PE ratio of 50.01 and a beta of 2.26. The company has a fifty day moving average price of $25.84 and a 200 day moving average price of $24.86. Triumph Group, Inc. has a 1 year low of $11.01 and a 1 year high of $26.03.

Triumph Group (NYSE:TGI - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The aerospace company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.17. Triumph Group had a net margin of 3.24% and a negative return on equity of 74.53%. The firm had revenue of $377.90 million during the quarter, compared to analysts' expectations of $334.04 million. During the same period in the previous year, the company earned $0.31 earnings per share. The firm's quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts expect that Triumph Group, Inc. will post 0.68 earnings per share for the current year.

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.