Spirit AeroSystems Holdings, Inc. (SPR) Receives Consensus Rating of “Hold” from Brokerages
Spirit AeroSystems Holdings, Inc. (NYSE:SPR) has received an average rating of “Hold” from the twenty-four research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $79.50.
SPR has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $69.00 price target on shares of Spirit AeroSystems and gave the company a “sell” rating in a report on Sunday, September 10th. Zacks Investment Research raised shares of Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Wednesday, October 11th. Citigroup Inc. reaffirmed a “buy” rating and set a $91.00 price target (up previously from $85.00) on shares of Spirit AeroSystems in a report on Monday, October 9th. Credit Suisse Group raised their price target on shares of Spirit AeroSystems from $88.00 to $97.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Finally, Cowen Inc reaffirmed a “buy” rating and set a $69.00 price target on shares of Spirit AeroSystems in a report on Wednesday, August 2nd.
In other Spirit AeroSystems news, SVP Duane F. Hawkins sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $83.04, for a total transaction of $415,200.00. Following the sale, the senior vice president now owns 39,374 shares in the company, valued at approximately $3,269,616.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John A. Pilla sold 10,088 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total transaction of $752,564.80. Following the sale, the senior vice president now owns 93,258 shares in the company, valued at approximately $6,957,046.80. The disclosure for this sale can be found here. In the last three months, insiders sold 21,688 shares of company stock worth $1,672,599. 0.28% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPR. Boston Partners bought a new stake in Spirit AeroSystems during the 2nd quarter worth approximately $140,460,000. UBS Asset Management Americas Inc. raised its stake in Spirit AeroSystems 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. Wedge Capital Management L L P NC bought a new stake in Spirit AeroSystems during the 3rd quarter worth approximately $52,067,000. Koch Industries Inc. bought a new stake in Spirit AeroSystems during the 2nd quarter worth approximately $524,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in Spirit AeroSystems during the 2nd quarter worth approximately $21,437,000. Institutional investors own 99.81% of the company’s stock.
Shares of Spirit AeroSystems (NYSE SPR) traded down $0.53 during midday trading on Friday, hitting $82.34. 607,649 shares of the stock were exchanged, compared to its average volume of 979,625. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.56. The stock has a market cap of $9,520.48, a P/E ratio of 16.84, a PEG ratio of 1.46 and a beta of 1.16. Spirit AeroSystems has a 12-month low of $51.85 and a 12-month high of $84.75.
Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.26. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.74 billion. Spirit AeroSystems had a net margin of 4.98% and a return on equity of 31.14%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 EPS. equities research analysts forecast that Spirit AeroSystems will post 5.22 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Monday, December 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Friday, December 15th. Spirit AeroSystems’s payout ratio is 14.08%.
Spirit AeroSystems declared that its board has initiated a share repurchase program on Wednesday, August 2nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.
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Spirit AeroSystems 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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