Jefferies Group LLC restated their buy rating on shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) in a research note released on Tuesday, July 25th. The firm currently has a $68.00 price objective on the aerospace company’s stock.
Several other brokerages have also commented on SPR. BidaskClub upgraded Spirit Aerosystems Holdings from a buy rating to a strong-buy rating in a research note on Thursday, July 13th. Morgan Stanley restated an overweight rating and set a $66.00 price target (down from $67.00) on shares of Spirit Aerosystems Holdings in a research note on Thursday, July 13th. Credit Suisse Group reaffirmed a buy rating and issued a $74.00 target price on shares of Spirit Aerosystems Holdings in a research report on Friday, May 5th. Finally, UBS AG raised Spirit Aerosystems Holdings from a neutral rating to a buy rating and set a $63.00 target price for the company in a research report on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Spirit Aerosystems Holdings presently has an average rating of Hold and an average price target of $69.56.
Spirit Aerosystems Holdings (SPR) traded up 0.15% during trading on Tuesday, hitting $68.91. The stock had a trading volume of 1,976,177 shares. The stock’s 50-day moving average is $61.97 and its 200 day moving average is $58.42. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 24.74 and a beta of 1.36. Spirit Aerosystems Holdings has a one year low of $42.26 and a one year high of $73.86.
Spirit Aerosystems Holdings (NYSE:SPR) last announced its quarterly 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. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.74 billion. Spirit Aerosystems Holdings had a return on equity of 30.82% and a net margin of 4.97%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. Equities analysts anticipate that Spirit Aerosystems Holdings will post $5.16 earnings per share for the current year.
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Spirit Aerosystems Holdings declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 2nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the aerospace company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio is currently 14.60%.
In other Spirit Aerosystems Holdings news, Director Richard A. Gephardt sold 4,247 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $58.00, for a total transaction of $246,326.00. Following the transaction, the director now owns 1,964 shares of the company’s stock, valued at approximately $113,912. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.28% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC increased its position in Spirit Aerosystems Holdings by 0.4% in the first quarter. Clearbridge Investments LLC now owns 8,863 shares of the aerospace company’s stock worth $513,000 after buying an additional 36 shares in the last quarter. Homrich & Berg increased its position in Spirit Aerosystems Holdings by 0.5% in the second quarter. Homrich & Berg now owns 7,325 shares of the aerospace company’s stock worth $424,000 after buying an additional 38 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its position in Spirit Aerosystems Holdings by 0.7% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 13,700 shares of the aerospace company’s stock worth $794,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue increased its position in Spirit Aerosystems Holdings by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 3,317 shares of the aerospace company’s stock worth $192,000 after buying an additional 149 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Spirit Aerosystems Holdings by 9.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock worth $106,000 after buying an additional 160 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.
Spirit Aerosystems Holdings 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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