Buckingham Research Increases Spirit Aerosystems Holdings, Inc. (SPR) Price Target to $66.00
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) had its price target increased by Buckingham Research from $53.00 to $66.00 in a research report released on Thursday. The brokerage currently has a neutral rating on the aerospace company’s stock.
SPR has been the subject of a number of other research reports. Canaccord Genuity restated a buy rating and issued a $86.00 price target (up previously from $80.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday. Jefferies Group LLC lifted their price target on Spirit Aerosystems Holdings from $84.00 to $90.00 and gave the stock a buy rating in a research note on Thursday. Cowen and Company reiterated an outperform rating and issued a $88.00 price objective (up from $79.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday. Citigroup Inc. reiterated a buy rating and issued a $85.00 price objective on shares of Spirit Aerosystems Holdings in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada set a $69.00 price objective on shares of Spirit Aerosystems Holdings and gave the company a sell rating in a research note on Sunday, September 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $75.28.
Shares of Spirit Aerosystems Holdings (SPR) opened at 77.72 on Thursday. Spirit Aerosystems Holdings has a 12-month low of $43.94 and a 12-month high of $79.29. The firm has a 50-day moving average of $72.33 and a 200-day moving average of $61.20. The firm has a market cap of $9.20 billion, a P/E ratio of 27.91 and a beta of 1.36.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.37. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Spirit Aerosystems Holdings had a return on equity of 30.82% and a net margin of 4.97%. Spirit Aerosystems Holdings’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 earnings per share. On average, equities analysts forecast that Spirit Aerosystems Holdings will post $5.24 earnings per share for the current fiscal year.
Spirit Aerosystems Holdings announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 2nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.40 annualized dividend and a yield of 0.51%. Spirit Aerosystems Holdings’s payout ratio is currently 14.60%.
In other news, SVP John A. Pilla sold 10,088 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were 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 of the company’s stock, valued at approximately $6,957,046.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles L. Chadwell sold 6,600 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $76.49, for a total transaction of $504,834.00. Following the transaction, the director now directly owns 23,828 shares of the company’s stock, valued at approximately $1,822,603.72. 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 company. BlackRock Inc. boosted its position in shares of Spirit Aerosystems Holdings by 11,339.0% in the first quarter. BlackRock Inc. now owns 6,131,965 shares of the aerospace company’s stock worth $355,164,000 after acquiring an additional 6,078,359 shares during the last quarter. Boston Partners purchased a new stake in Spirit Aerosystems Holdings in the second quarter valued at approximately $140,460,000. UBS Asset Management Americas Inc. grew its holdings in Spirit Aerosystems Holdings by 1,425.0% in the second quarter. UBS Asset Management Americas Inc. now owns 2,255,618 shares of the aerospace company’s stock valued at $130,691,000 after purchasing an additional 2,107,710 shares during the period. Vanguard Group Inc. grew its holdings in Spirit Aerosystems Holdings by 5.6% in the first quarter. Vanguard Group Inc. now owns 11,549,361 shares of the aerospace company’s stock valued at $668,939,000 after purchasing an additional 616,129 shares during the period. Finally, Koch Industries Inc. purchased a new stake in Spirit Aerosystems Holdings in the second quarter valued at approximately $524,000. Institutional investors and hedge funds own 98.66% of the company’s stock.
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 also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
Receive News & Stock Ratings for Spirit Aerosystems Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Aerosystems Holdings Inc. and related stocks with our FREE daily email newsletter.