Wells Fargo & Company reiterated their market perform rating on shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) in a report published on Thursday, November 2nd, The Fly reports. Wells Fargo & Company currently has a $85.00 price target on the aerospace company’s stock, up from their previous price target of $78.00.
SPR has been the subject of a number of other research reports. Cowen and Company reissued a buy rating and set a $69.00 target price on shares of Spirit Aerosystems Holdings in a research note on Wednesday, August 2nd. Citigroup Inc. restated a buy rating and set a $91.00 price target (up previously from $85.00) on shares of Spirit Aerosystems Holdings in a report on Monday, October 9th. Credit Suisse Group restated an outperform rating and set a $80.00 price target (up previously from $74.00) on shares of Spirit Aerosystems Holdings in a report on Thursday, August 3rd. ValuEngine upgraded shares of Spirit Aerosystems Holdings from a buy rating to a strong-buy rating in a report on Friday, September 1st. Finally, BidaskClub downgraded shares of Spirit Aerosystems Holdings from a strong-buy rating to a buy rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $79.95.
Spirit Aerosystems Holdings (SPR) traded up $0.60 during trading on Thursday, reaching $80.85. 1,181,700 shares of the company were exchanged, compared to its average volume of 1,009,207. Spirit Aerosystems Holdings has a 1 year low of $51.85 and a 1 year high of $84.75. 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 cap of $9,278.83, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 1.42 and a beta of 1.16.
Spirit Aerosystems Holdings (NYSE:SPR) last posted its quarterly earnings data on Wednesday, November 1st. The aerospace company reported $1.26 EPS for the quarter, hitting analysts’ consensus estimates of $1.26. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.98% and a return on equity of 31.14%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. equities analysts expect that Spirit Aerosystems Holdings will post 5.22 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Monday, December 18th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.49%. The ex-dividend date is Friday, December 15th. Spirit Aerosystems Holdings’s payout ratio is presently 14.08%.
Spirit Aerosystems Holdings announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits 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 shares are undervalued.
In other Spirit Aerosystems Holdings news, SVP Duane F. Hawkins sold 5,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $83.04, for a total transaction of $415,200.00. Following the sale, the senior vice president now directly owns 39,374 shares of the company’s stock, valued at $3,269,616.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles L. Chadwell sold 6,600 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $76.49, for a total transaction of $504,834.00. Following the sale, the director now directly owns 23,828 shares in the company, valued at $1,822,603.72. The disclosure for this sale can be found here. Insiders sold 21,688 shares of company stock valued at $1,672,599 in the last quarter. Corporate insiders own 0.28% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SPR. Nomura Asset Management Co. Ltd. raised its position in shares of 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 valued at $106,000 after purchasing an additional 160 shares during the period. Raymond James Trust N.A. bought a new position in Spirit Aerosystems Holdings during the second quarter worth about $200,000. State of Alaska Department of Revenue increased its position in Spirit Aerosystems Holdings by 6.7% during the second quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock worth $205,000 after acquiring an additional 222 shares during the period. Parametrica Management Ltd bought a new position in Spirit Aerosystems Holdings during the second quarter worth about $217,000. Finally, Nine Chapters Capital Management LLC bought a new position in Spirit Aerosystems Holdings during the third quarter worth about $218,000. 99.59% of the stock is currently 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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