Spirit Aerosystems Holdings, Inc. (NYSE:SPR) has been assigned a consensus rating of “Hold” from the twenty ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $69.56.
Several analysts recently commented on the company. Cowen and Company reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Spirit Aerosystems Holdings in a report on Wednesday, August 2nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $80.00 price objective (up previously from $74.00) on shares of Spirit Aerosystems Holdings in a report on Thursday, August 3rd. UBS AG raised Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a report on Tuesday, May 9th. BidaskClub lowered Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $68.00 price objective on shares of Spirit Aerosystems Holdings in a research report on Tuesday, July 25th.
Shares of Spirit Aerosystems Holdings (NYSE SPR) opened at 68.81 on Monday. Spirit Aerosystems Holdings has a 12 month low of $42.26 and a 12 month high of $73.86. The company has a 50 day moving average of $61.62 and a 200-day moving average of $58.33. The firm has a market capitalization of $8.14 billion, a P/E ratio of 24.71 and a beta of 1.36.
Spirit Aerosystems Holdings (NYSE:SPR) last posted its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.37. Spirit Aerosystems Holdings had a return on equity of 30.82% and a net margin of 4.97%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the company earned $1.21 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. 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 approved a stock 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.40 annualized dividend and a dividend yield of 0.58%. Spirit Aerosystems Holdings’s dividend payout ratio is presently 14.60%.
In related news, Director Richard A. Gephardt sold 4,247 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $58.00, for a total value of $246,326.00. Following the completion of the transaction, the director now owns 1,964 shares in the company, valued at approximately $113,912. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.28% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. 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 valued at $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 valued at $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 valued at $192,000 after buying an additional 149 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in Spirit Aerosystems Holdings during the second quarter worth approximately $200,000. Finally, Parametrica Management Ltd acquired a new stake in Spirit Aerosystems Holdings during the second quarter worth approximately $217,000. 98.51% of the stock is currently owned by institutional investors.
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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