Zacks Investment Research Lowers Spirit Aerosystems Holdings Inc. (SPR) to Hold
Spirit Aerosystems Holdings Inc. (NYSE:SPR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Several other research analysts have also issued reports on SPR. Vetr lowered Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating and set a $50.00 price objective for the company. in a research note on Wednesday, August 3rd. Standpoint Research reiterated a “buy” rating on shares of Spirit Aerosystems Holdings in a research note on Wednesday, July 27th. Deutsche Bank AG reiterated a “hold” rating and set a $48.00 price objective (down from $53.00) on shares of Spirit Aerosystems Holdings in a research note on Monday, July 11th. Morgan Stanley assumed coverage on Spirit Aerosystems Holdings in a research note on Thursday, June 23rd. They set an “overweight” rating and a $56.00 price objective for the company. Finally, Wells Fargo & Co. lowered Spirit Aerosystems Holdings from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 30th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $54.94.
Spirit Aerosystems Holdings (NYSE:SPR) opened at 45.85 on Thursday. Spirit Aerosystems Holdings has a 52-week low of $40.03 and a 52-week high of $56.20. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 9.25 and a beta of 1.22. The stock’s 50 day moving average is $45.13 and its 200 day moving average is $45.22.
Spirit Aerosystems Holdings (NYSE:SPR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. Spirit Aerosystems Holdings had a return on equity of 27.50% and a net margin of 9.95%. The firm earned $1.80 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the company posted $1.11 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts predict that Spirit Aerosystems Holdings will post $4.44 earnings per share for the current fiscal year.
In other Spirit Aerosystems Holdings news, SVP John A. Pilla sold 8,688 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $43.56, for a total transaction of $378,449.28. Following the transaction, the senior vice president now owns 112,721 shares in the company, valued at $4,910,126.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.41% of the company’s stock.
A number of institutional investors have recently modified their holdings of SPR. Vanguard Group Inc. boosted its position in shares of Spirit Aerosystems Holdings by 1.3% in the second quarter. Vanguard Group Inc. now owns 11,265,790 shares of the company’s stock worth $484,429,000 after buying an additional 147,045 shares during the period. AJO LP boosted its position in shares of Spirit Aerosystems Holdings by 5.6% in the second quarter. AJO LP now owns 3,281,842 shares of the company’s stock worth $141,119,000 after buying an additional 173,847 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Spirit Aerosystems Holdings by 3.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,524,678 shares of the company’s stock worth $114,519,000 after buying an additional 95,528 shares during the period. Prudential PLC boosted its position in shares of Spirit Aerosystems Holdings by 13.7% in the second quarter. Prudential PLC now owns 2,462,910 shares of the company’s stock worth $105,905,000 after buying an additional 296,634 shares during the period. Finally, Numeric Investors LLC boosted its position in shares of Spirit Aerosystems Holdings by 25.2% in the second quarter. Numeric Investors LLC now owns 2,370,483 shares of the company’s stock worth $101,931,000 after buying an additional 477,100 shares during the period.
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 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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