BofA Securities downgrades Triumph Group Inc. (TGI) rating to an Underperform


Triumph Group Inc.’s recent filing unveils that its Director Keating Neal J acquired Company’s shares for reported $80400.0 on Aug 15. In the deal valued at $8.04 per share,10,000 shares were bought. As a result of this transaction, Keating Neal J now holds 51,787 shares worth roughly $ 0.49 million.

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Then, Keating Neal J bought 10,000 shares, generating $109,300 in total proceeds. Upon buying the shares at $10.93, the Director now owns 29,933 shares.

Before that, Crowley Daniel J bought 6,018 shares. Triumph Group Inc. shares valued at $66,258 were divested by the Chairman, President and CEO at a price of $11.01 per share. As a result of the transaction, Crowley Daniel J now holds 694,959 shares, worth roughly $6.6 million.

BofA Securities downgraded its Triumph Group Inc. [TGI] rating to an Underperform from a a Buy in a research note published on Friday, August 11, 2023; the price target was decreased to $8 from $19. PT values the company’s stock at a premium of -18.75 to its Friday closing price.

Price Performance Review of TGI

On Friday, Triumph Group Inc. [NYSE:TGI] saw its stock jump 0.96% to $9.50. On the same session, the stock had its day’s lowest price of $9.37, but rose to a high of $9.61. Over the last five days, the stock has gained 4.51%. Triumph Group Inc. shares have fallen nearly -9.70% since the year began. Nevertheless, the stocks have fallen -26.87% over the past one year. While a 52-week high of $13.33 was reached on 07/12/23, a 52-week low of $7.84 was recorded on 08/11/23. SMA at 50 days reached $10.68, while 200 days put it at $11.15. A total of 1.01 million shares were traded, compared to the trading of 0.98 million shares in the previous session.

Levels Of Support And Resistance For TGI Stock

The 24-hour chart illustrates a support level at 9.38, which if violated will result in even more drops to 9.25. On the upside, there is a resistance level at 9.62. A further resistance level may holdings at 9.73. The Relative Strength Index (RSI) on the 14-day chart is 47.71, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 7.78%. Stochastics %K at 88.97% indicates the stock is a selling.

How much short interest is there in Triumph Group Inc.?

A steep rise in short interest was recorded in Triumph Group Inc. stocks on Aug 14, 2023, growing by 0.52 million shares to a total of 4.09 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.57 million shares. There was a rise of 12.71%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.39% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.04.

Triumph Group Inc. [TGI] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 10,256,852 shares, or roughly 15.66% of the outstanding TGI shares. In other words, the investor’s shares have risen by 147,147 from its previous 13-F filing of 10109705.0. Additionally, The Vanguard Group, Inc. increased 0.14% of its stake after which the total value it holdings stand at $71,547,464, while SSgA Funds Management, Inc. reduced -0.84% of its stake to hold $61.93 million in the firm. Over the last quarter, Hill City Capital LP purchased 680,008 shares of Triumph Group Inc., while T. Rowe Price Investment Manageme bought -5,047,959 shares. At present, Maple Rock Capital Partners, Inc. is holding 2,060,189 shares valued at $26.06 million. Morgan Stanley & Co. LLC owned 1,908,311 shares of the company at the time of its most recent 13F filing, worth $24.14 million.

According to FactSet, Triumph Group Inc.’s share price will average $12.13 in the next year, based on opinions of analysts polled by the firm. This is up nearly 27.52 percent from its previous closing price of $9.41. Analysts expect Triumph Group Inc. stock to reach the higher price of $17.00, while the lowest price estimate is $8.00. However, 9 analysts have rated TGI stock as a Hold in their predictions for 2023.


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