Barclays Maintains an 'Equalweight' on Huntington Ingalls (HII); Tour Highlights Improvements
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Price: $301.40 -3.32%
Rating Summary:
10 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 11
Rating Summary:
10 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 11
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Barclays maintains an 'Equalweight' on Huntington Ingalls (NYSE: HII) price target of $33.00.
Barclays analyst says, "Yesterday we visited HII's Ingalls Shipbuilding in Pascagoula, MS where we met Ingalls Shipbuilding President Irwin Edenzon and his team and also had the opportunity to tour LPD-22 and NSC-3...A key takeaway from the meetings, in our view, was the focus by Ingalls management on planning and accountability in order to improve financial predictability and reduce unexpected surprises. Management outlined its operating model (employed since 2009) which they believe has led to visible improvements."
"From the outset, it seems that Ingalls management is following a path that should lead to operating improvements, but we note 1) it may take a number of years before investors can be sure of tangible results of these changes and 2) some of the challenges faced by the shipyard can be the result of schedule/requirement changes by the customer (i.e. the Navy) which are harder for management to control."
For more ratings news on Huntington Ingalls click here and for the rating history of Huntington Ingalls click here.
Shares of Huntington Ingalls closed at $28.63 yesterday.
Barclays analyst says, "Yesterday we visited HII's Ingalls Shipbuilding in Pascagoula, MS where we met Ingalls Shipbuilding President Irwin Edenzon and his team and also had the opportunity to tour LPD-22 and NSC-3...A key takeaway from the meetings, in our view, was the focus by Ingalls management on planning and accountability in order to improve financial predictability and reduce unexpected surprises. Management outlined its operating model (employed since 2009) which they believe has led to visible improvements."
"From the outset, it seems that Ingalls management is following a path that should lead to operating improvements, but we note 1) it may take a number of years before investors can be sure of tangible results of these changes and 2) some of the challenges faced by the shipyard can be the result of schedule/requirement changes by the customer (i.e. the Navy) which are harder for management to control."
For more ratings news on Huntington Ingalls click here and for the rating history of Huntington Ingalls click here.
Shares of Huntington Ingalls closed at $28.63 yesterday.
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