Spirit Aerosystems Holdings, Inc. (SPR) Cut to “Buy” at BidaskClub

Spirit Aerosystems Holdings, Inc. (NYSE:SPR) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday, July 27th.

Several other brokerages have also recently weighed in on SPR. Jefferies Group LLC reissued a “buy” rating and issued a $68.00 price objective on shares of Spirit Aerosystems Holdings in a research note on Tuesday, July 25th. Morgan Stanley reissued an “overweight” rating and issued a $66.00 price objective (down previously from $67.00) on shares of Spirit Aerosystems Holdings in a research note on Thursday, July 13th. Credit Suisse Group reissued a “buy” rating and issued a $74.00 price objective on shares of Spirit Aerosystems Holdings in a research note on Friday, May 5th. Finally, UBS AG upgraded shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Spirit Aerosystems Holdings presently has a consensus rating of “Hold” and a consensus target price of $69.56.

Shares of Spirit Aerosystems Holdings (NYSE SPR) opened at 70.19 on Thursday. The company has a market cap of $8.30 billion, a P/E ratio of 25.20 and a beta of 1.36. The stock has a 50 day moving average price of $63.15 and a 200-day moving average price of $58.65. Spirit Aerosystems Holdings has a 1-year low of $42.26 and a 1-year high of $73.86.

Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.37. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. Spirit Aerosystems Holdings’s revenue for the quarter was down .2% on a year-over-year basis. Analysts predict that Spirit Aerosystems Holdings will post $5.16 earnings per share for the current fiscal year.

Spirit Aerosystems Holdings announced that its Board of Directors has initiated a share buyback program on Wednesday, August 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the aerospace company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

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In other Spirit Aerosystems Holdings news, Director Richard A. Gephardt sold 4,247 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $58.00, for a total value of $246,326.00. Following the completion of the sale, 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 at the SEC website. Corporate insiders own 0.28% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPR. Northpointe Capital LLC bought a new position in Spirit Aerosystems Holdings during the first quarter worth $2,805,000. Meritage Portfolio Management increased its position in Spirit Aerosystems Holdings by 1.9% in the first quarter. Meritage Portfolio Management now owns 106,677 shares of the aerospace company’s stock worth $6,179,000 after buying an additional 1,971 shares in the last quarter. James Investment Research Inc. bought a new position in Spirit Aerosystems Holdings during the first quarter worth $349,000. 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, Quotient Investors LLC bought a new position in Spirit Aerosystems Holdings during the first quarter worth $2,126,000. 99.25% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for Spirit Aerosystems Holdings (NYSE:SPR)

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