Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Sees Large Decline in Short Interest
Spirit AeroSystems Holdings, Inc. (NYSE:SPR) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 2,723,800 shares, a decrease of 7.2% from the July 31st total of 2,934,700 shares. Currently, 2.7% of the shares of the company are sold short. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is presently 2.6 days.
SPR has been the subject of several recent analyst reports. Barclays reissued a “buy” rating and issued a $95.00 price target on shares of Spirit AeroSystems in a research note on Sunday, August 4th. Jefferies Financial Group cut Spirit AeroSystems from a “buy” rating to a “hold” rating and decreased their price target for the stock from $106.00 to $85.00 in a research note on Tuesday, July 2nd. SunTrust Banks cut Spirit AeroSystems from a “hold” rating to a “sell” rating and decreased their price target for the stock from $93.00 to $75.00 in a research note on Friday, June 14th. Credit Suisse Group cut Spirit AeroSystems from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $101.00 to $83.00 in a research note on Monday, July 15th. Finally, Zacks Investment Research cut Spirit AeroSystems from a “hold” rating to a “sell” rating and set a $84.00 target price for the company. in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $94.43.
In other news, Director Robert D. Johnson sold 500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.58, for a total value of $39,790.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.84% of the company’s stock.
SPR stock traded down $0.01 during trading hours on Friday, hitting $84.39. 1,147,478 shares of the stock traded hands, compared to its average volume of 1,016,843. The stock has a 50-day simple moving average of $77.12 and a 200 day simple moving average of $83.35. Spirit AeroSystems has a one year low of $64.48 and a one year high of $100.34. The company has a market cap of $8.75 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.60 and a beta of 1.18. The company has a current ratio of 1.96, a quick ratio of 1.42 and a debt-to-equity ratio of 1.47.
Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Wednesday, July 31st. The aerospace company reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.07. Spirit AeroSystems had a return on equity of 56.85% and a net margin of 8.88%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the business posted $1.63 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts forecast that Spirit AeroSystems will post 6.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 16th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, September 13th. This represents a $0.48 annualized dividend and a yield of 0.57%. Spirit AeroSystems’s dividend payout ratio is currently 7.67%.
Spirit AeroSystems Company Profile
Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and related spares, as well as maintenance, repairs, and overhaul (MRO) services.
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