Jefferies Group LLC reaffirmed their buy rating on shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) in a report issued on Tuesday, July 25th. They currently have a $68.00 price target on the aerospace company’s stock.
Other research analysts also recently issued reports about the company. BidaskClub upgraded Spirit Aerosystems Holdings from a buy rating to a strong-buy rating in a research note on Tuesday, June 13th. UBS AG upgraded Spirit Aerosystems Holdings from a neutral rating to a buy rating and set a $63.00 target price for the company in a research note on Tuesday, May 9th. Morgan Stanley restated an overweight rating and issued a $66.00 price target (down from $67.00) on shares of Spirit Aerosystems Holdings in a research note on Thursday, July 13th. Finally, Credit Suisse Group restated a buy rating and issued a $74.00 price target on shares of Spirit Aerosystems Holdings in a research note on Friday, May 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $67.13.
Shares of Spirit Aerosystems Holdings (NYSE SPR) traded down 0.86% on Tuesday, hitting $71.38. The stock had a trading volume of 1,836,295 shares. Spirit Aerosystems Holdings has a 52 week low of $42.26 and a 52 week high of $72.43. The company has a market cap of $8.45 billion, a PE ratio of 25.59 and a beta of 1.36. The stock’s 50-day moving average price is $58.97 and its 200 day moving average price is $57.64.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.37. Spirit Aerosystems Holdings had a return on equity of 30.43% and a net margin of 4.97%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company posted $1.21 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts predict that Spirit Aerosystems Holdings will post $5.02 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Monday, September 18th will be issued a $0.10 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.40 annualized dividend and a yield of 0.56%. Spirit Aerosystems Holdings’s dividend payout ratio is presently 14.60%.
Spirit Aerosystems Holdings declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 2nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Spirit Aerosystems Holdings news, Director Richard A. Gephardt sold 4,247 shares of Spirit Aerosystems Holdings stock in a transaction on Friday, June 9th. The stock was sold at an average price of $58.00, for a total value of $246,326.00. Following the completion of the transaction, the director now directly owns 1,964 shares of the company’s stock, valued at approximately $113,912. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position 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 worth $668,939,000 after buying an additional 616,129 shares during the period. BlackRock Inc. boosted its position 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 worth $355,164,000 after buying an additional 6,078,359 shares during the period. Goldman Sachs Group Inc. boosted its position 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 worth $290,100,000 after buying an additional 305,946 shares during the period. AQR Capital Management LLC boosted its position 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 worth $224,937,000 after buying an additional 436,784 shares during the period. Finally, Wells Fargo & Company MN boosted its position 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 worth $214,016,000 after buying an additional 369,308 shares during the period. 98.20% of the stock is 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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