Triumph Group Gets A Double Downgrade On Looming Production Uncertainty
Triumph Group Gets A Double Downgrade On Looming Production Uncertainty
Triumph Group Inc (NYSE:TGI) received a downgrade last month from a Truist Securities analyst.
Triumph Group Inc (纽交所:TGI) 上个月收到了Truist Securities分析师的评级下调。
While the company's transformation efforts have resulted in a "leaner, more focused portfolio," this is being overshadowed by the "uncertain aircraft production rates" of Boeing Co (NYSE:BA) and Airbus SE (OTC:EADSY), according to BofA Securities.
尽管该公司的转型努力已经实现了"更精简、更专注的投资组合"，但据美银证券表示，这被波音公司(纽交所:BA)和空中客车集团(adr)(场外交易:EADSY)的"不确定的飞机生产率"所掩盖。
Analyst Ronald Epstein downgraded the rating for Triumph Group from Buy to Underperform, while reducing the price target from $17 to $12.
分析师罗纳德·爱泼斯坦将Triumph Group的评级从买入调降至表现不佳，同时将价格目标从17美元降至12美元。
The Triumph Group Thesis: The Installations segment is producing 13 per month, significantly below the rate required for margin expansion, while Composites and Cabin Components are producing 30 per month, which has downside risk, Epstein said in the downgrade note.
Triumph Group论点：安装部门的产量为每月13个，明显低于扩大利润空间所需的速度，而复合材料和机舱元件的产量为每月30个，存在下行风险，爱泼斯坦在减持通知中指出。
Check out other analyst stock ratings.
查看其他分析师的股票评级。
As the company's working capital needs grow, there would be risks to free cash flow generation, along with margin headwinds, he added.
随着公司营运资本需求增加，将会对自由现金流的产生和利润率造成风险，他补充道。
While Triumph Group is ramping production and the inventory is being accepted by Boeing and Airbus, "we are concerned any further production cuts could lead to destocking," the analyst stated. "The destocking would compound existing FCF headwinds from the V-22 program sunsetting, OEM deferrals, inflation, and supply-chain shortages," he further wrote.
虽然Triumph Group正在加大生产力，库存正在被波音和空中客车接受，"我们担心任何进一步的生产削减可能导致去库存，"分析师表示。"去库存将使现有的来自V-22项目退出、原始设备制造商延期、通货膨胀和供应链短缺的自由现金流风险进一步恶化，"他进一步写道。
TGI Price Action: Shares of Triumph Group had declined by 5.35% to $12.83 at the time of publication on Tuesday.
截至周二发表时，Triumph Group的股价下跌了5.35%，至12.83美元。
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Photo: Pixabay
照片：Pixabay
