Spirit Aerosystems Holdings, Inc. (NYSE:SPR) Upgraded to Neutral by Goldman Sachs Group, Inc. (The)
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) was upgraded by equities research analysts at Goldman Sachs Group, Inc. (The) from a “sell” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.
A number of other research firms also recently issued reports on SPR. Credit Suisse Group restated a “buy” rating and issued a $74.00 target price on shares of Spirit Aerosystems Holdings in a report on Friday, May 5th. BidaskClub downgraded shares of Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Jefferies Group LLC set a $68.00 target price on shares of Spirit Aerosystems Holdings and gave the company a “buy” rating in a report on Thursday, June 22nd. Morgan Stanley restated an “overweight” rating and issued a $66.00 target price (down from $67.00) on shares of Spirit Aerosystems Holdings in a report on Thursday, July 13th. Finally, Cowen and Company restated a “buy” rating and issued a $69.00 target price on shares of Spirit Aerosystems Holdings in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $69.67.
Shares of Spirit Aerosystems Holdings (SPR) opened at 69.74 on Thursday. Spirit Aerosystems Holdings has a 1-year low of $42.26 and a 1-year high of $73.86. The stock has a 50 day moving average of $61.29 and a 200 day moving average of $58.26. The stock has a market cap of $8.25 billion, a PE ratio of 25.01 and a beta of 1.36.
Spirit Aerosystems Holdings (NYSE:SPR) last posted its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.37. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 earnings per share. Equities research analysts forecast that Spirit Aerosystems Holdings will post $5.16 EPS for the current year.
Spirit Aerosystems Holdings announced that its board has initiated a stock repurchase program on Wednesday, August 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the aerospace company to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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In other Spirit Aerosystems Holdings news, Director Richard A. Gephardt sold 4,247 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $58.00, for a total transaction of $246,326.00. Following the completion of the sale, the director now directly owns 1,964 shares in the company, valued at $113,912. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.28% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in SPR. Nomura Asset Management Co. Ltd. increased its stake in Spirit Aerosystems Holdings by 9.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock valued at $106,000 after buying an additional 160 shares in the last quarter. Focused Wealth Management Inc increased its position in shares of Spirit Aerosystems Holdings by 68.8% in the first quarter. Focused Wealth Management Inc now owns 2,700 shares of the aerospace company’s stock valued at $156,000 after buying an additional 1,100 shares during the period. State of Alaska Department of Revenue increased its position in shares of Spirit Aerosystems Holdings by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 3,317 shares of the aerospace company’s stock valued at $192,000 after buying an additional 149 shares during the period. Parametrica Management Ltd purchased a new position in shares of Spirit Aerosystems Holdings during the second quarter valued at $217,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Spirit Aerosystems Holdings by 20.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,248 shares of the aerospace company’s stock valued at $247,000 after buying an additional 710 shares during the period. Institutional investors own 98.51% of the company’s stock.
Spirit Aerosystems Holdings Company Profile
Spirit AeroSystems Holdings, Inc is a non-original equipment manufacturer (OEM), aircraft parts designer and manufacturer of commercial aero-structures. The Company is also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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