Spirit Aerosystems Holdings, Inc. (SPR) Upgraded to “Strong-Buy” by BidaskClub
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday, July 13th.
SPR has been the subject of a number of other research reports. Barclays PLC upped their price target on Spirit Aerosystems Holdings from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, March 20th. Credit Suisse Group reaffirmed a “buy” rating and set a $74.00 price target on shares of Spirit Aerosystems Holdings in a research report on Friday, May 5th. UBS AG raised Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Tuesday, May 9th. Jefferies Group LLC set a $68.00 target price on Spirit Aerosystems Holdings and gave the stock a “buy” rating in a report on Thursday, June 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $66.00 target price (down previously from $67.00) on shares of Spirit Aerosystems Holdings in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $68.80.
Spirit Aerosystems Holdings (SPR) opened at 70.75 on Thursday. The company has a 50-day moving average of $60.19 and a 200-day moving average of $57.94. Spirit Aerosystems Holdings has a 12 month low of $42.26 and a 12 month high of $73.86. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 25.37 and a beta of 1.36.
Spirit Aerosystems Holdings (NYSE:SPR) last released its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.37. Spirit Aerosystems Holdings had a return on equity of 30.43% and a net margin of 4.97%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $1.21 EPS. Spirit Aerosystems Holdings’s revenue for the quarter was down .2% on a year-over-year basis. Analysts predict that Spirit Aerosystems Holdings will post $5.07 EPS for the current year.
Spirit Aerosystems Holdings declared that its board has authorized a stock repurchase plan on Wednesday, August 2nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the aerospace company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other news, Director Richard A. Gephardt sold 4,247 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $58.00, for a total transaction of $246,326.00. Following the transaction, the director now directly owns 1,964 shares of the company’s stock, valued at approximately $113,912. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.28% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank boosted its position in Spirit Aerosystems Holdings by 14.5% in the fourth quarter. Comerica Bank now owns 21,525 shares of the aerospace company’s stock valued at $1,251,000 after buying an additional 2,733 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Spirit Aerosystems Holdings by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 887,404 shares of the aerospace company’s stock worth $51,782,000 after buying an additional 13,782 shares in the last quarter. FMR LLC boosted its position in shares of Spirit Aerosystems Holdings by 8.5% in the fourth quarter. FMR LLC now owns 718,399 shares of the aerospace company’s stock worth $41,919,000 after buying an additional 56,481 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Spirit Aerosystems Holdings by 1.7% in the fourth quarter. New York State Teachers Retirement System now owns 11,700 shares of the aerospace company’s stock worth $683,000 after buying an additional 200 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Spirit Aerosystems Holdings by 4.0% in the fourth quarter. GSA Capital Partners LLP now owns 9,036 shares of the aerospace company’s stock worth $527,000 after buying an additional 345 shares in the last quarter. 98.51% 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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