Spirit Aerosystems Holdings’ (SPR) Buy Rating Reiterated at Canaccord Genuity
Canaccord Genuity reissued their buy rating on shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) in a research note issued to investors on Wednesday. They currently have a $80.00 price target on the aerospace company’s stock, up from their previous price target of $65.00.
Several other equities research analysts also recently issued reports on SPR. Credit Suisse Group reaffirmed a buy rating and set a $74.00 price target on shares of Spirit Aerosystems Holdings in a research note on Friday, May 5th. UBS AG raised shares of Spirit Aerosystems Holdings from a neutral rating to a buy rating and set a $63.00 price target on the stock in a research note on Tuesday, May 9th. BidaskClub raised shares of Spirit Aerosystems Holdings from a buy rating to a strong-buy rating in a research note on Tuesday, June 13th. Jefferies Group LLC set a $68.00 price target on shares of Spirit Aerosystems Holdings and gave the stock a buy rating in a research note on Thursday, June 22nd. Finally, Morgan Stanley reaffirmed an overweight rating and set a $66.00 price target (down previously from $67.00) on shares of Spirit Aerosystems Holdings in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $69.56.
Shares of Spirit Aerosystems Holdings (SPR) traded up 0.15% during mid-day trading on Wednesday, reaching $68.91. The company’s stock had a trading volume of 1,976,177 shares. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 24.74 and a beta of 1.36. Spirit Aerosystems Holdings has a 1-year low of $42.26 and a 1-year high of $73.86. The firm’s 50 day moving average price is $61.97 and its 200-day moving average price is $58.42.
Spirit Aerosystems Holdings (NYSE:SPR) last released its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.37. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. On average, analysts predict that Spirit Aerosystems Holdings will post $5.16 EPS for the current year.
Spirit Aerosystems Holdings announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the aerospace company to buy up to 4.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Monday, September 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio is presently 14.60%.
In related news, Director Richard A. Gephardt sold 4,247 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $58.00, for a total transaction of $246,326.00. Following the completion of the sale, the director now owns 1,964 shares of the company’s stock, valued at approximately $113,912. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.28% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in SPR. Nomura Asset Management Co. Ltd. increased its stake in shares of 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 buying an additional 160 shares in the last quarter. Focused Wealth Management Inc increased its stake in shares of Spirit Aerosystems Holdings by 68.8% in the first quarter. Focused Wealth Management Inc now owns 2,700 shares of the aerospace company’s stock worth $156,000 after buying an additional 1,100 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Spirit Aerosystems Holdings by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 3,317 shares of the aerospace company’s stock worth $192,000 after buying an additional 149 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Spirit Aerosystems Holdings during the second quarter worth $200,000. Finally, Parametrica Management Ltd acquired a new stake in shares of Spirit Aerosystems Holdings during the second quarter worth $217,000. 98.51% of the stock is owned by institutional investors and hedge funds.
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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