Zacks Investment Research lowered shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) from a buy rating to a hold rating in a research note published on Friday.
According to Zacks, “SPIRIT AEROSYSTEMS is the world’s largest independent supplier of commercial airplane assemblies and components. In addition to its Kansas facility, Spirit has operations in Tulsa and McAlester, Okla., Prestwick, Scotland, and Samlesbury, England. In the U.S., Spirit’s core products include fuselages, pylons, nacelles and wing components. Additionally, Spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in North America and Europe. Spirit Europe produces wing components for a host of customers, including Airbus. “
A number of other analysts have also commented on the stock. Cowen and Company reaffirmed an outperform rating and set a $79.00 target price (up previously from $69.00) on shares of Spirit Aerosystems Holdings in a report on Tuesday, August 8th. Morgan Stanley reaffirmed 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. Canaccord Genuity reaffirmed a buy rating and set a $80.00 target price (up previously from $65.00) on shares of Spirit Aerosystems Holdings in a report on Wednesday, August 9th. Robert W. Baird reaffirmed a buy rating and set a $86.00 target price on shares of Spirit Aerosystems Holdings in a report on Friday, September 8th. Finally, Sanford C. Bernstein reaffirmed an in-line rating and set a $98.00 target price (up previously from $87.00) on shares of Spirit Aerosystems Holdings in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $78.55.
Spirit Aerosystems Holdings (SPR) opened at $82.62 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.89 and a current ratio of 1.61. The firm has a market cap of $9,749.65, a PE ratio of 16.85, a PEG ratio of 1.46 and a beta of 1.16. Spirit Aerosystems Holdings has a 52 week low of $51.85 and a 52 week high of $83.13.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.26. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.98% and a return on equity of 30.53%. Spirit Aerosystems Holdings’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. research analysts predict that Spirit Aerosystems Holdings will post 5.22 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Monday, December 18th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 15th. This represents a $0.40 annualized dividend and a yield of 0.48%. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is presently 14.08%.
Spirit Aerosystems Holdings declared that its board has authorized a stock repurchase program 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related 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 value of $752,564.80. Following the transaction, the senior vice president now owns 93,258 shares in the company, valued at approximately $6,957,046.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 completion of the transaction, the director now owns 23,828 shares in the company, valued at approximately $1,822,603.72. The disclosure for this sale can be found here. 0.28% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. grew its stake in Spirit Aerosystems Holdings by 9.5% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock valued at $106,000 after buying an additional 160 shares during the last quarter. Raymond James Trust N.A. acquired a new position in Spirit Aerosystems Holdings in the 2nd quarter valued at about $200,000. State of Alaska Department of Revenue grew its stake in Spirit Aerosystems Holdings by 6.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock valued at $205,000 after buying an additional 222 shares during the last quarter. Parametrica Management Ltd acquired a new position in Spirit Aerosystems Holdings in the 2nd quarter valued at about $217,000. Finally, Nine Chapters Capital Management LLC acquired a new position in Spirit Aerosystems Holdings in the 3rd quarter valued at about $218,000. Institutional investors and hedge funds own 99.60% 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.
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