Barclays Reaffirms Buy Rating for Spirit AeroSystems (SPR)
Barclays reaffirmed their buy rating on shares of Spirit AeroSystems (NYSE:SPR) in a research note issued to investors on Wednesday.
Several other equities research analysts have also recently issued reports on the company. Vertical Research cut Spirit AeroSystems from a buy rating to a hold rating and set a $103.00 target price for the company. in a research note on Wednesday, March 6th. Seaport Global Securities cut Spirit AeroSystems from a buy rating to a neutral rating and set a $98.64 target price for the company. in a research note on Tuesday, March 5th. Sanford C. Bernstein reissued an outperform rating and set a $112.00 target price (up previously from $102.00) on shares of Spirit AeroSystems in a research note on Friday, February 8th. Credit Suisse Group restated an outperform rating and set a $103.00 price target (up from $96.00) on shares of Spirit AeroSystems in a research report on Monday, February 4th. Finally, SunTrust Banks raised their price target on Spirit AeroSystems to $96.00 and gave the stock an in-line rating in a research report on Monday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $103.43.
SPR stock opened at $91.30 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.80 and a debt-to-equity ratio of 1.51. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.57 and a beta of 1.46. Spirit AeroSystems has a 52-week low of $64.48 and a 52-week high of $100.34.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 8th. Stockholders of record on Monday, March 18th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $0.48 annualized dividend and a dividend yield of 0.53%. Spirit AeroSystems’s dividend payout ratio is currently 7.67%.
In other news, Director Paul E. Fulchino sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $92.49, for a total transaction of $1,387,350.00. Following the completion of the transaction, the director now directly owns 47,234 shares in the company, valued at $4,368,672.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $99.60, for a total value of $49,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,700 shares of company stock valued at $5,032,198. Company insiders own 0.87% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Spirit AeroSystems by 66.7% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 500 shares of the aerospace company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Doyle Wealth Management purchased a new position in Spirit AeroSystems in the fourth quarter valued at $40,000. Bessemer Group Inc. boosted its holdings in Spirit AeroSystems by 96.7% in the fourth quarter. Bessemer Group Inc. now owns 836 shares of the aerospace company’s stock valued at $60,000 after purchasing an additional 411 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Spirit AeroSystems in the fourth quarter valued at $80,000. Finally, First Mercantile Trust Co. boosted its holdings in Spirit AeroSystems by 43.8% in the fourth quarter. First Mercantile Trust Co. now owns 1,150 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 94.95% of the company’s stock.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and related spares, as well as maintenance, repairs, and overhaul (MRO) services.
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