Spirit Aerosystems Holdings, Inc. (SPR) Earns “Outperform” Rating from Cowen and Company
Spirit Aerosystems Holdings, Inc. (NYSE:SPR)‘s stock had its “outperform” rating reissued by stock analysts at Cowen and Company in a research note issued to investors on Thursday, Marketbeat.com reports. They currently have a $88.00 price target on the aerospace company’s stock, up from their previous price target of $79.00. Cowen and Company’s target price would suggest a potential upside of 13.23% from the stock’s previous close.
The analysts wrote, “SPR is attractive for extended BA/AB production ramp, improving execution, and.””
A number of other equities research analysts also recently weighed in on SPR. Seaport Global Securities raised shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $83.00 in a research note on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) upgraded shares of Spirit Aerosystems Holdings from a “sell” rating to a “neutral” rating and increased their price target for the company from $54.00 to $68.00 in a research report on Thursday, August 10th. Citigroup Inc. reiterated a “buy” rating and set a $85.00 price target on shares of Spirit Aerosystems Holdings in a research report on Tuesday. Jefferies Group LLC increased their price target on shares of Spirit Aerosystems Holdings from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Canaccord Genuity reiterated a “buy” rating and set a $80.00 price target (up from $65.00) on shares of Spirit Aerosystems Holdings in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Spirit Aerosystems Holdings currently has a consensus rating of “Buy” and a consensus price target of $75.28.
Shares of Spirit Aerosystems Holdings (NYSE SPR) traded up 0.15% during midday trading on Thursday, hitting $77.72. 969,963 shares of the company traded hands. The stock has a 50 day moving average of $72.33 and a 200-day moving average of $61.20. The stock has a market capitalization of $9.20 billion, a PE ratio of 27.91 and a beta of 1.31. Spirit Aerosystems Holdings has a 52 week low of $43.30 and a 52 week high of $79.21.
Spirit Aerosystems Holdings (NYSE:SPR) last announced 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. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. Spirit Aerosystems Holdings’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm posted $1.21 earnings per share. Equities analysts forecast that Spirit Aerosystems Holdings will post $5.24 earnings per share for the current fiscal year.
Spirit Aerosystems Holdings declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 2nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the aerospace company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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In other news, Director Charles L. Chadwell sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $76.49, for a total value of $504,834.00. Following the transaction, the director now owns 23,828 shares in the company, valued at $1,822,603.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John A. Pilla sold 10,088 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total transaction of $752,564.80. Following the completion of the transaction, the senior vice president now owns 93,258 shares in the company, valued at approximately $6,957,046.80. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. lifted its stake in 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 worth $106,000 after acquiring an additional 160 shares during the period. Raymond James Trust N.A. purchased a new stake in Spirit Aerosystems Holdings in the second quarter worth $200,000. State of Alaska Department of Revenue lifted its stake in Spirit Aerosystems Holdings by 6.7% in the second quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock worth $205,000 after acquiring an additional 222 shares during the period. Parametrica Management Ltd purchased a new stake in Spirit Aerosystems Holdings in the second quarter worth $217,000. Finally, Hillsdale Investment Management Inc. lifted its stake in Spirit Aerosystems Holdings by 23.2% in the second quarter. Hillsdale Investment Management Inc. now owns 3,930 shares of the aerospace company’s stock worth $228,000 after acquiring an additional 740 shares during the period. 98.61% of the stock is owned by 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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