Royal Bank Of Canada set a $69.00 price objective on Spirit Aerosystems Holdings, Inc. (NYSE:SPR) in a research note published on Sunday. The brokerage currently has a sell rating on the aerospace company’s stock.
Several other equities research analysts have also recently weighed in on SPR. BidaskClub upgraded 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 objective 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 from $67.00) on shares of Spirit Aerosystems Holdings in a research report 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 report 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 report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $72.94.
Shares of Spirit Aerosystems Holdings (NYSE SPR) opened at 75.32 on Friday. The company has a 50-day moving average of $69.99 and a 200 day moving average of $60.64. Spirit Aerosystems Holdings has a 52-week low of $42.26 and a 52-week high of $76.15. The company has a market capitalization of $8.91 billion, a PE ratio of 27.04 and a beta of 1.31.
Spirit Aerosystems Holdings (NYSE:SPR) last posted its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the company posted $1.21 earnings per share. Spirit Aerosystems Holdings’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts predict that Spirit Aerosystems Holdings will post $5.19 earnings per share for the current year.
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Spirit Aerosystems Holdings declared that its board has authorized a share repurchase plan on Wednesday, August 2nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Monday, September 18th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is 14.60%.
In other Spirit Aerosystems Holdings news, SVP John A. Pilla sold 10,088 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $74.60, for a total value of $752,564.80. Following the transaction, the senior vice president now directly owns 93,258 shares of the company’s stock, valued at $6,957,046.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.28% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Clearbridge Investments LLC lifted its stake in shares of Spirit Aerosystems Holdings by 0.4% in the first quarter. Clearbridge Investments LLC now owns 8,863 shares of the aerospace company’s stock valued at $513,000 after buying an additional 36 shares in the last quarter. Homrich & Berg lifted its stake in shares of Spirit Aerosystems Holdings by 0.5% in the second quarter. Homrich & Berg now owns 7,325 shares of the aerospace company’s stock valued at $424,000 after buying an additional 38 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of 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 valued at $794,000 after buying an additional 100 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake 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 buying an additional 160 shares in the last quarter. Finally, Allen Investment Management LLC lifted its stake in shares of Spirit Aerosystems Holdings by 2.6% in the first quarter. Allen Investment Management LLC now owns 7,280 shares of the aerospace company’s stock valued at $422,000 after buying an additional 183 shares in the last quarter. 98.60% of the stock is currently 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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