Spirit Aerosystems Holdings, Inc. (SPR) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) from a hold rating to a buy rating in a research note issued to investors on Saturday, August 5th.

SPR has been the topic of a number of other research reports. Cowen and Company reissued a buy rating and set a $69.00 price objective on shares of Spirit Aerosystems Holdings in a research report on Wednesday, August 2nd. Credit Suisse Group reissued an outperform rating and set a $80.00 price objective (up previously from $74.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday, August 3rd. 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 report on Tuesday, May 9th. Jefferies Group LLC reaffirmed a buy rating and issued a $68.00 price target on shares of Spirit Aerosystems Holdings in a research report on Tuesday, July 25th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $66.00 price target (down previously from $67.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $69.56.

Spirit Aerosystems Holdings (NYSE SPR) traded up 0.17% on Friday, reaching $70.15. The company’s stock had a trading volume of 840,032 shares. The company has a market cap of $8.30 billion, a P/E ratio of 25.19 and a beta of 1.36. The stock’s 50 day moving average price is $63.87 and its 200 day moving average price is $58.81. Spirit Aerosystems Holdings has a 12 month low of $42.26 and a 12 month high of $73.86.

Spirit Aerosystems Holdings (NYSE:SPR) last released its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.37. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. Equities research analysts forecast that Spirit Aerosystems Holdings will post $5.16 earnings per share for the current year.

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Spirit Aerosystems Holdings announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 2nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the aerospace company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Monday, September 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, September 15th. This represents a $0.40 annualized dividend and a dividend yield of 0.57%. Spirit Aerosystems Holdings’s payout ratio is currently 14.60%.

In other news, Director Richard A. Gephardt sold 4,247 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $113,912. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.28% of the company’s stock.

Large investors have recently modified their holdings of the company. UBS Asset Management Americas Inc. raised its stake in shares of Spirit Aerosystems Holdings by 105.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 468,023 shares of the aerospace company’s stock valued at $27,309,000 after buying an additional 240,343 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Spirit Aerosystems Holdings by 110.4% in the fourth quarter. Macquarie Group Ltd. now owns 107,700 shares of the aerospace company’s stock valued at $6,284,000 after buying an additional 56,500 shares during the last quarter. Denali Advisors LLC bought a new stake in shares of Spirit Aerosystems Holdings during the first quarter valued at about $1,929,000. Creative Planning raised its stake in shares of Spirit Aerosystems Holdings by 116.2% in the first quarter. Creative Planning now owns 4,359 shares of the aerospace company’s stock valued at $252,000 after buying an additional 2,343 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of Spirit Aerosystems Holdings by 4.1% in the first quarter. Capstone Asset Management Co. now owns 6,600 shares of the aerospace company’s stock valued at $382,000 after buying an additional 260 shares during the last quarter. Institutional investors own 99.25% 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.

Analyst Recommendations for Spirit Aerosystems Holdings (NYSE:SPR)

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