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.
COPYRIGHT VIOLATION NOTICE: This article was originally published by BNB Daily and is the sole property of of BNB Daily. If you are viewing this article on another domain, it was stolen and reposted in violation of international copyright and trademark laws. The original version of this article can be accessed at https://www.baseball-news-blog.com/2017/08/19/spirit-aerosystems-holdings-inc-spr-upgraded-by-bidaskclub-to-buy-updated.html.
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.
Receive News & Ratings for Spirit Aerosystems Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Aerosystems Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.