Spirit Aerosystems Holdings Inc. (SPR) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Spirit Aerosystems Holdings Inc. (NYSE:SPR) from a hold rating to a buy rating in a research note released on Wednesday. The brokerage currently has $51.00 price target on the stock.
According to Zacks, “SPIRIT AEROSYSTEMS is the world’s largest independent supplier of commercial airplane assemblies and components. In addition to its Kansas facility, Spirit has operations in Tulsa and McAlester, Okla., Prestwick, Scotland, and Samlesbury, England. In the U.S., Spirit’s core products include fuselages, pylons, nacelles and wing components. Additionally, Spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in North America and Europe. Spirit Europe produces wing components for a host of customers, including Airbus. “
A number of other brokerages have also weighed in on SPR. Buckingham Research upgraded shares of Spirit Aerosystems Holdings from an underperform rating to a neutral rating and raised their price objective for the company from $41.00 to $44.00 in a report on Thursday, June 9th. Jefferies Group restated a buy rating and issued a $66.00 price objective on shares of Spirit Aerosystems Holdings in a report on Wednesday, June 29th. Barclays PLC reduced their price objective on shares of Spirit Aerosystems Holdings from $56.00 to $53.00 and set an overweight rating on the stock in a report on Thursday, June 9th. JPMorgan Chase & Co. reduced their price objective on shares of Spirit Aerosystems Holdings from $62.00 to $52.00 and set an overweight rating on the stock in a report on Thursday, July 7th. Finally, Deutsche Bank AG restated a hold rating and issued a $48.00 price objective (down from $53.00) on shares of Spirit Aerosystems Holdings in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. Spirit Aerosystems Holdings presently has a consensus rating of Buy and a consensus price target of $54.94.
Spirit Aerosystems Holdings (NYSE:SPR) traded down 0.773% during midday trading on Wednesday, reaching $46.845. 416,518 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $44.99 and its 200-day moving average price is $45.24. Spirit Aerosystems Holdings has a 1-year low of $40.03 and a 1-year high of $56.20. The company has a market capitalization of $6.05 billion, a PE ratio of 9.452 and a beta of 1.22.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.15. Spirit Aerosystems Holdings had a net margin of 9.95% and a return on equity of 27.50%. The company earned $1.80 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the company posted $1.11 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. Equities analysts expect that Spirit Aerosystems Holdings will post $4.43 EPS for the current year.
In other Spirit Aerosystems Holdings news, SVP John A. Pilla sold 8,688 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of $43.56, for a total transaction of $378,449.28. Following the transaction, the senior vice president now directly owns 112,721 shares in the company, valued at approximately $4,910,126.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Aperio Group LLC boosted its stake in shares of Spirit Aerosystems Holdings by 5.0% in the first quarter. Aperio Group LLC now owns 24,922 shares of the company’s stock worth $1,130,000 after buying an additional 1,186 shares during the period. Nisa Investment Advisors L.L.C. boosted its stake in shares of Spirit Aerosystems Holdings by 49.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 16,382 shares of the company’s stock worth $743,000 after buying an additional 5,400 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Spirit Aerosystems Holdings by 121.4% in the first quarter. Teachers Advisors Inc. now owns 610,395 shares of the company’s stock worth $27,688,000 after buying an additional 334,733 shares during the period. BlackRock Group LTD boosted its stake in shares of Spirit Aerosystems Holdings by 9.7% in the first quarter. BlackRock Group LTD now owns 149,023 shares of the company’s stock worth $6,759,000 after buying an additional 13,162 shares during the period. Finally, Acrospire Investment Management LLC acquired a new stake in shares of Spirit Aerosystems Holdings during the first quarter worth $308,000.
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 a supplier of aero-structures to The Boeing Company (Boeing) and Airbus SAS (Airbus). The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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