Sanford C. Bernstein reaffirmed their in-line rating on shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) in a research report report published on Thursday, November 2nd. Sanford C. Bernstein currently has a $98.00 price objective on the aerospace company’s stock, up from their previous price objective of $87.00.
Several other brokerages have also issued reports on SPR. Canaccord Genuity reaffirmed a buy rating and issued a $86.00 target price on shares of Spirit Aerosystems Holdings in a research note on Tuesday, October 31st. Wells Fargo & Company reaffirmed a market perform rating and issued a $85.00 target price (up previously from $78.00) on shares of Spirit Aerosystems Holdings in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of Spirit Aerosystems Holdings from a hold rating to a buy rating and set a $89.00 price objective on the stock in a research note on Wednesday, October 11th. Citigroup Inc. reissued a buy rating and set a $91.00 price objective (up previously from $85.00) on shares of Spirit Aerosystems Holdings in a research note on Monday, October 9th. Finally, ValuEngine lowered shares of Spirit Aerosystems Holdings from a strong-buy rating to a buy rating in a research note on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given 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.
Shares of Spirit Aerosystems Holdings (SPR) traded up $1.43 during trading on Thursday, hitting $82.71. 1,405,825 shares of the company were exchanged, compared to its average volume of 1,009,189. The firm has a market cap of $9,490.00, a PE ratio of 16.51, a P/E/G ratio of 1.43 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 1.56 and a debt-to-equity ratio of 0.60. Spirit Aerosystems Holdings has a 1-year low of $51.85 and a 1-year high of $84.75.
Spirit Aerosystems Holdings (NYSE:SPR) last issued 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. Spirit Aerosystems Holdings had a net margin of 4.98% and a return on equity of 31.14%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The company’s revenue was up 2.2% on a year-over-year basis. equities analysts predict that Spirit Aerosystems Holdings will post 5.22 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Monday, December 18th will be given a $0.10 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%. Spirit Aerosystems Holdings’s payout ratio is presently 14.08%.
Spirit Aerosystems Holdings announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 2nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the aerospace company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
In related news, SVP Duane F. Hawkins sold 5,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $83.04, for a total value of $415,200.00. Following the completion of the transaction, the senior vice president now 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 SEC, which can be accessed through the SEC website. Also, SVP John A. Pilla sold 10,088 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $74.60, for a total value 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. In the last three months, insiders sold 21,688 shares of company stock valued at $1,672,599. 0.28% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP raised its stake in Spirit Aerosystems Holdings by 51.8% during the third quarter. GSA Capital Partners LLP now owns 33,232 shares of the aerospace company’s stock worth $2,583,000 after acquiring an additional 11,344 shares in the last quarter. California Public Employees Retirement System raised its stake in Spirit Aerosystems Holdings by 6.8% during the third quarter. California Public Employees Retirement System now owns 314,604 shares of the aerospace company’s stock worth $24,451,000 after acquiring an additional 20,104 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Spirit Aerosystems Holdings during the third quarter worth about $289,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Spirit Aerosystems Holdings by 46.5% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,291 shares of the aerospace company’s stock worth $411,000 after acquiring an additional 1,679 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Spirit Aerosystems Holdings by 97.8% during the third quarter. Cubist Systematic Strategies LLC now owns 52,481 shares of the aerospace company’s stock worth $4,079,000 after acquiring an additional 25,942 shares in the last quarter. 99.81% 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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