Spirit Aerosystems Holdings, Inc. (NYSE:SPR) received a $69.00 target price from Royal Bank Of Canada in a report issued on Sunday, September 10th. The firm presently has a “sell” rating on the aerospace company’s stock. Royal Bank Of Canada’s price target suggests a potential downside of 11.70% from the company’s current price.
Several other equities analysts have also recently commented on SPR. BidaskClub raised shares of Spirit Aerosystems Holdings from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Jefferies Group LLC set a $68.00 price target on shares of Spirit Aerosystems Holdings and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Morgan Stanley reiterated an “overweight” rating and set a $66.00 price objective (down previously from $67.00) on shares of Spirit Aerosystems Holdings in a research note on Thursday, July 13th. Cowen and Company reiterated a “buy” rating and set a $69.00 price objective on shares of Spirit Aerosystems Holdings in a research note on Wednesday, August 2nd. Finally, Seaport Global Securities upgraded shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $83.00 in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $72.94.
Shares of Spirit Aerosystems Holdings (NYSE:SPR) opened at 78.14 on Friday. The stock’s 50 day moving average price is $72.33 and its 200-day moving average price is $61.20. Spirit Aerosystems Holdings has a 52-week low of $42.37 and a 52-week high of $78.20. The firm has a market cap of $9.25 billion, a PE ratio of 28.06 and a beta of 1.31.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 EPS 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 business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company posted $1.21 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts anticipate that Spirit Aerosystems Holdings will post $5.22 earnings per share for the current fiscal year.
Spirit Aerosystems Holdings declared that its board has approved a share repurchase program 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 programs are generally a sign that the company’s board believes its stock is undervalued.
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In related news, Director Charles L. Chadwell sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $76.49, for a total value of $504,834.00. Following the completion of the transaction, the director now owns 23,828 shares of the company’s stock, valued at approximately $1,822,603.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John A. Pilla sold 10,088 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 93,258 shares of the company’s stock, valued at approximately $6,957,046.80. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. boosted its stake in Spirit Aerosystems Holdings by 9.5% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock worth $106,000 after purchasing an additional 160 shares during the period. Focused Wealth Management Inc boosted its stake in Spirit Aerosystems Holdings by 68.8% in the 1st quarter. Focused Wealth Management Inc now owns 2,700 shares of the aerospace company’s stock worth $156,000 after purchasing an additional 1,100 shares during the period. Raymond James Trust N.A. acquired a new position in Spirit Aerosystems Holdings in the 2nd quarter worth approximately $200,000. State of Alaska Department of Revenue boosted its stake in Spirit Aerosystems Holdings by 6.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock worth $205,000 after purchasing an additional 222 shares during the period. Finally, Parametrica Management Ltd acquired a new position in Spirit Aerosystems Holdings in the 2nd quarter worth approximately $217,000. 98.61% 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.
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