Spirit AeroSystems’ (SPR) Buy Rating Reiterated at Jefferies Group
Jefferies Group restated their buy rating on shares of Spirit AeroSystems (NYSE:SPR) in a research note issued to investors on Monday morning. They currently have a $112.00 price objective on the aerospace company’s stock. Jefferies Group also issued estimates for Spirit AeroSystems’ Q1 2018 earnings at $1.36 EPS, Q2 2018 earnings at $1.50 EPS, Q3 2018 earnings at $1.58 EPS, Q4 2018 earnings at $1.96 EPS, FY2018 earnings at $6.40 EPS, FY2019 earnings at $7.10 EPS and FY2020 earnings at $7.60 EPS.
Several other analysts have also commented on SPR. Canaccord Genuity reaffirmed a buy rating and set a $115.00 price target on shares of Spirit AeroSystems in a research report on Monday, January 29th. ValuEngine raised shares of Spirit AeroSystems from a hold rating to a buy rating in a research report on Friday, February 2nd. Robert W. Baird reaffirmed a buy rating and set a $129.00 price target on shares of Spirit AeroSystems in a research report on Monday, January 29th. Wells Fargo & Co reaffirmed a market perform rating and set a $85.00 price target (up previously from $78.00) on shares of Spirit AeroSystems in a research report on Thursday, November 2nd. Finally, Cowen reaffirmed a buy rating and set a $110.00 price target on shares of Spirit AeroSystems in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $95.50.
Spirit AeroSystems (NYSE SPR) opened at $85.85 on Monday. The firm has a market capitalization of $10,211.91, a P/E ratio of 28.43, a PEG ratio of 1.27 and a beta of 1.37. Spirit AeroSystems has a twelve month low of $51.85 and a twelve month high of $105.20. The company has a current ratio of 1.56, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 9th. Shareholders of record on Monday, March 19th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Friday, March 16th. Spirit AeroSystems’s payout ratio is 13.25%.
Spirit AeroSystems announced that its Board of Directors has initiated a share repurchase plan on Friday, February 2nd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $84.13, for a total value of $42,065.00. Following the sale, the director now owns 1,964 shares of the company’s stock, valued at $165,231.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SPR. Boston Partners raised its position in Spirit AeroSystems by 74.5% in the third quarter. Boston Partners now owns 4,230,462 shares of the aerospace company’s stock valued at $328,791,000 after purchasing an additional 1,806,228 shares during the period. LSV Asset Management raised its position in Spirit AeroSystems by 19.5% in the fourth quarter. LSV Asset Management now owns 5,080,842 shares of the aerospace company’s stock valued at $443,303,000 after purchasing an additional 827,943 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Spirit AeroSystems in the third quarter valued at approximately $52,067,000. Koch Industries Inc. purchased a new stake in Spirit AeroSystems in the second quarter valued at approximately $524,000. Finally, JPMorgan Chase & Co. raised its position in Spirit AeroSystems by 79.9% in the third quarter. JPMorgan Chase & Co. now owns 745,016 shares of the aerospace company’s stock valued at $57,813,000 after purchasing an additional 330,903 shares during the period. 96.54% of the stock is currently owned by institutional investors.
About Spirit AeroSystems
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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