Spirit Aerosystems Holdings, Inc. (SPR) Receives $76.17 Average PT from Analysts
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) has received a consensus recommendation of “Hold” from the twenty-three analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $78.00.
Several research analysts have recently commented on the company. Cowen and Company restated a “buy” rating and set a $69.00 price target on shares of Spirit Aerosystems Holdings in a research report on Wednesday, August 2nd. Zacks Investment Research cut Spirit Aerosystems Holdings from a “buy” rating to a “hold” rating in a research note on Friday. Citigroup Inc. reiterated a “buy” rating and issued a $91.00 price objective (up from $85.00) on shares of Spirit Aerosystems Holdings in a research note on Monday, October 9th. Credit Suisse Group reiterated an “outperform” rating and issued a $80.00 price objective (up from $74.00) on shares of Spirit Aerosystems Holdings in a research note on Thursday, August 3rd. Finally, ValuEngine upgraded Spirit Aerosystems Holdings from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st.
Shares of Spirit Aerosystems Holdings (NYSE SPR) traded up $0.62 during trading on Wednesday, hitting $83.02. The company’s stock had a trading volume of 143,731 shares, compared to its average volume of 924,677. The company has a quick ratio of 0.89, a current ratio of 1.61 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $9,749.65, a PE ratio of 16.85, a P/E/G ratio of 1.46 and a beta of 1.16. Spirit Aerosystems Holdings has a fifty-two week low of $51.85 and a fifty-two week high of $83.13.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings data on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. Spirit Aerosystems Holdings had a return on equity of 30.53% and a net margin of 4.98%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. equities analysts forecast that Spirit Aerosystems Holdings will post 5.22 EPS for the current fiscal year.
Spirit Aerosystems Holdings declared that its board has approved a stock repurchase program on Wednesday, August 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the aerospace company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Monday, December 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.48%. The ex-dividend date is Friday, December 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is 14.08%.
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In other Spirit Aerosystems Holdings news, SVP John A. Pilla sold 10,088 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $74.60, for a total value of $752,564.80. Following the completion of the sale, the senior vice president now owns 93,258 shares in the company, valued at approximately $6,957,046.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles L. Chadwell sold 6,600 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $76.49, for a total transaction of $504,834.00. Following the completion of the sale, the director now owns 23,828 shares of the company’s stock, valued at approximately $1,822,603.72. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Spirit Aerosystems Holdings by 2.4% during the 2nd quarter. BlackRock Inc. now owns 6,280,205 shares of the aerospace company’s stock worth $363,874,000 after purchasing an additional 148,240 shares during the last quarter. Boston Partners grew its position in Spirit Aerosystems Holdings by 74.5% in the 3rd quarter. Boston Partners now owns 4,230,462 shares of the aerospace company’s stock worth $328,791,000 after purchasing an additional 1,806,228 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Spirit Aerosystems Holdings by 9.8% during the 2nd quarter. LSV Asset Management now owns 3,468,615 shares of the aerospace company’s stock worth $200,971,000 after acquiring an additional 308,900 shares during the period. Prudential PLC lifted its holdings in shares of Spirit Aerosystems Holdings by 2.8% during the 2nd quarter. Prudential PLC now owns 2,821,693 shares of the aerospace company’s stock worth $163,489,000 after acquiring an additional 77,385 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Spirit Aerosystems Holdings by 1,425.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,255,618 shares of the aerospace company’s stock worth $130,691,000 after acquiring an additional 2,107,710 shares during the period. Institutional investors own 99.60% of the company’s stock.
About Spirit Aerosystems Holdings
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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