Spirit Aerosystems Holdings, Inc. (SPR) Stock Rating Lowered by BidaskClub
BidaskClub cut shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) from a strong-buy rating to a buy rating in a report published on Thursday.
Several other research firms also recently weighed in on SPR. Credit Suisse Group restated a buy rating and set a $74.00 target price on shares of Spirit Aerosystems Holdings in a report on Friday, May 5th. 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 set a $66.00 target price (down from $67.00) on shares of Spirit Aerosystems Holdings in a report on Thursday, July 13th. Finally, UBS AG upgraded shares of Spirit Aerosystems Holdings from a neutral rating to a buy rating and set a $63.00 target price for the company in a report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $62.93.
Spirit Aerosystems Holdings (SPR) traded down 0.911% during trading on Thursday, reaching $60.335. 320,756 shares of the company were exchanged. Spirit Aerosystems Holdings has a 12 month low of $42.26 and a 12 month high of $62.90. The stock has a 50 day moving average price of $58.78 and a 200 day moving average price of $57.62. The firm has a market capitalization of $7.28 billion, a PE ratio of 17.010 and a beta of 1.35.
Spirit Aerosystems Holdings (NYSE:SPR) last announced its quarterly earnings results on Wednesday, May 3rd. The aerospace company reported $1.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.17. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.67 billion. Spirit Aerosystems Holdings had a net margin of 6.46% and a return on equity of 28.51%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 EPS. On average, analysts expect that Spirit Aerosystems Holdings will post $4.81 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Monday, September 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, September 15th. This represents a $0.40 annualized dividend and a dividend yield of 0.66%. Spirit Aerosystems Holdings’s dividend payout ratio is currently 11.20%.
In other Spirit Aerosystems Holdings news, Director Richard A. Gephardt sold 4,247 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $58.00, for a total transaction of $246,326.00. Following the sale, the director now directly owns 1,964 shares of the company’s stock, valued at approximately $113,912. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in SPR. Vanguard Group Inc. boosted its stake in Spirit Aerosystems Holdings by 5.6% in the first quarter. Vanguard Group Inc. now owns 11,549,361 shares of the aerospace company’s stock valued at $668,939,000 after buying an additional 616,129 shares in the last quarter. BlackRock Inc. boosted its stake in Spirit Aerosystems Holdings by 11,339.0% in the first quarter. BlackRock Inc. now owns 6,131,965 shares of the aerospace company’s stock valued at $355,164,000 after buying an additional 6,078,359 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Spirit Aerosystems Holdings by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,008,637 shares of the aerospace company’s stock valued at $290,100,000 after buying an additional 305,946 shares in the last quarter. AQR Capital Management LLC boosted its stake in Spirit Aerosystems Holdings by 12.7% in the first quarter. AQR Capital Management LLC now owns 3,883,585 shares of the aerospace company’s stock valued at $224,937,000 after buying an additional 436,784 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Spirit Aerosystems Holdings by 11.1% in the first quarter. Wells Fargo & Company MN now owns 3,695,032 shares of the aerospace company’s stock valued at $214,016,000 after buying an additional 369,308 shares in the last quarter. 98.20% of the stock is currently owned by institutional investors.
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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