Canaccord Genuity reaffirmed their buy rating on shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) in a research note published on Friday. The brokerage currently has a $86.00 price target on the aerospace company’s stock.
“We spent time on the road with management of Spirit AeroSystems (SPR). We believe management remains very confident in the near- and long-term outlook for the company now that it has finalized agreements with both Boeing and Airbus, and much of its financial and operational performance is now directly under its control. We continue to like SPR for its exposure to the 737, and believe that as sentiment on the commercial cycle remains positive, SPR will see a gradual grind higher as it executes to its plan. We are maintaining our BUY rating and our $86 price target.”,” Canaccord Genuity’s analyst wrote.
Several other research analysts have also recently weighed in on SPR. Jefferies Group LLC reaffirmed a buy rating and set a $68.00 price objective on shares of Spirit Aerosystems Holdings in a research report on Tuesday, July 25th. BidaskClub cut Spirit Aerosystems Holdings from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. Cowen and Company reaffirmed a buy rating and set a $69.00 price objective on shares of Spirit Aerosystems Holdings in a research report on Wednesday, August 2nd. Seaport Global Securities raised Spirit Aerosystems Holdings from a neutral rating to a buy rating and upped their price objective for the stock from $62.00 to $83.00 in a research report on Thursday, August 3rd. Finally, Credit Suisse Group reaffirmed an outperform rating and set a $80.00 price objective (up from $74.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. Spirit Aerosystems Holdings has a consensus rating of Hold and an average price target of $79.95.
Spirit Aerosystems Holdings (NYSE:SPR) traded down $0.01 during mid-day trading on Friday, hitting $80.73. The stock had a trading volume of 1,042,709 shares, compared to its average volume of 879,357. The company has a quick ratio of 0.85, a current ratio of 1.56 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $9,330.00, a PE ratio of 16.53, a P/E/G ratio of 1.43 and a beta of 1.16. Spirit Aerosystems Holdings has a 52 week low of $51.85 and a 52 week high of $84.75.
Spirit Aerosystems Holdings (NYSE:SPR) last posted its quarterly earnings data on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Spirit Aerosystems Holdings had a return on equity of 31.14% and a net margin of 4.98%. Spirit Aerosystems Holdings’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. sell-side analysts anticipate that Spirit Aerosystems Holdings will post 5.22 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Monday, December 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, December 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is currently 14.08%.
Spirit Aerosystems Holdings declared that its Board of Directors has authorized a share buyback program on Wednesday, August 2nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the aerospace company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other news, SVP John A. Pilla sold 10,088 shares of the 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 transaction, the senior vice president now owns 93,258 shares in the company, valued at $6,957,046.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles L. Chadwell sold 6,600 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $76.49, for a total value of $504,834.00. Following the transaction, the director now owns 23,828 shares in the company, valued at approximately $1,822,603.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,688 shares of company stock worth $1,672,599. 0.28% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC increased its stake in Spirit Aerosystems Holdings by 839.5% during the 3rd quarter. Fisher Asset Management LLC now owns 138,680 shares of the aerospace company’s stock worth $10,778,000 after acquiring an additional 123,919 shares during the period. Koch Industries Inc. bought a new position in Spirit Aerosystems Holdings during the 2nd quarter worth $524,000. Canada Pension Plan Investment Board increased its stake in Spirit Aerosystems Holdings by 449.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 75,300 shares of the aerospace company’s stock worth $4,363,000 after acquiring an additional 61,600 shares during the period. BB&T Securities LLC bought a new position in Spirit Aerosystems Holdings during the 2nd quarter worth $817,000. Finally, Lockheed Martin Investment Management Co. increased its stake in Spirit Aerosystems Holdings by 30.0% during the 3rd quarter. Lockheed Martin Investment Management Co. now owns 26,000 shares of the aerospace company’s stock worth $2,021,000 after acquiring an additional 6,000 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.
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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