Spirit AeroSystems’ (SPR) Hold Rating Reaffirmed at SunTrust Banks

SunTrust Banks restated their hold rating on shares of Spirit AeroSystems (NYSE:SPR) in a research note released on Tuesday morning. They currently have a $93.00 target price on the aerospace company’s stock. SunTrust Banks also issued estimates for Spirit AeroSystems’ FY2018 earnings at $6.02 EPS and FY2019 earnings at $6.17 EPS.

A number of other research firms have also weighed in on SPR. Berenberg Bank assumed coverage on Spirit AeroSystems in a research note on Tuesday, November 7th. They issued a buy rating and a $100.00 target price for the company. Zacks Investment Research lowered Spirit AeroSystems from a buy rating to a hold rating in a research note on Friday, November 3rd. ValuEngine lowered Spirit AeroSystems from a strong-buy rating to a buy rating in a research note on Tuesday, December 5th. Canaccord Genuity reissued a buy rating and issued a $86.00 target price on shares of Spirit AeroSystems in a research note on Friday, November 17th. Finally, Royal Bank of Canada set a $77.00 target price on Spirit AeroSystems and gave the company a sell rating in a research note on Sunday, November 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. Spirit AeroSystems has an average rating of Buy and an average price target of $84.11.

Shares of Spirit AeroSystems (NYSE SPR) traded up $2.40 during mid-day trading on Tuesday, reaching $96.55. The company’s stock had a trading volume of 812,061 shares, compared to its average volume of 871,755. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.56. Spirit AeroSystems has a 52-week low of $51.85 and a 52-week high of $96.70. The company has a market capitalization of $10,890.00, a price-to-earnings ratio of 34.00, a P/E/G ratio of 1.51 and a beta of 1.16.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.26. Spirit AeroSystems had a return on equity of 31.14% and a net margin of 4.98%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. equities analysts expect that Spirit AeroSystems will post 5.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 8th. Investors of record on Monday, December 18th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, December 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. Spirit AeroSystems’s dividend payout ratio is presently 14.08%.

In related news, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $84.13, for a total transaction of $42,065.00. Following the transaction, the director now owns 1,964 shares in the company, valued at approximately $165,231.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Duane F. Hawkins sold 5,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $83.04, for a total value of $415,200.00. Following the transaction, the senior vice president now owns 39,374 shares in the company, valued at approximately $3,269,616.96. The disclosure for this sale can be found here. 0.28% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. DnB Asset Management AS purchased a new position in Spirit AeroSystems during the 4th quarter valued at about $1,099,000. Parametric Portfolio Associates LLC increased its holdings in Spirit AeroSystems by 42.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 405,366 shares of the aerospace company’s stock valued at $31,505,000 after purchasing an additional 121,294 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Spirit AeroSystems by 51.8% during the 3rd quarter. GSA Capital Partners LLP now owns 33,232 shares of the aerospace company’s stock worth $2,583,000 after acquiring an additional 11,344 shares during the period. California Public Employees Retirement System grew its holdings in shares of Spirit AeroSystems by 6.8% during the 3rd quarter. California Public Employees Retirement System now owns 314,604 shares of the aerospace company’s stock worth $24,451,000 after acquiring an additional 20,104 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Spirit AeroSystems during the 3rd quarter worth approximately $289,000. Institutional investors own 96.12% of the company’s stock.

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Spirit AeroSystems 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.

Analyst Recommendations for Spirit AeroSystems (NYSE:SPR)

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