Standpoint Research upgraded shares of Spirit AeroSystems (NYSE:SPR) from a hold rating to a buy rating in a research note published on Friday morning, The Fly reports.
SPR has been the topic of a number of other reports. Zacks Investment Research cut Spirit AeroSystems from a buy rating to a hold rating in a research note on Wednesday, July 11th. ValuEngine raised Spirit AeroSystems from a hold rating to a buy rating in a research note on Wednesday, July 18th. Credit Suisse Group cut their target price on Spirit AeroSystems from $112.00 to $102.00 and set an outperform rating on the stock in a research note on Thursday, August 2nd. UBS Group initiated coverage on Spirit AeroSystems in a research note on Wednesday, August 15th. They issued a buy rating and a $110.00 target price on the stock. Finally, Bank of America cut their target price on Spirit AeroSystems from $110.00 to $100.00 and set a neutral rating on the stock in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $103.88.
Shares of NYSE:SPR traded up $0.76 on Friday, reaching $83.84. 1,025,094 shares of the company traded hands, compared to its average volume of 1,088,534. Spirit AeroSystems has a 52 week low of $76.00 and a 52 week high of $105.20. The stock has a market capitalization of $9.76 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.36 and a beta of 1.26. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 1.95.
Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Wednesday, August 1st. The aerospace company reported $1.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.12. Spirit AeroSystems had a return on equity of 39.74% and a net margin of 7.68%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the firm earned $1.57 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts predict that Spirit AeroSystems will post 6.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 9th. Investors of record on Monday, September 17th were paid a $0.12 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.57%. Spirit AeroSystems’s payout ratio is presently 8.97%.
In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $85.37, for a total transaction of $42,685.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles L. Chadwell sold 11,500 shares of Spirit AeroSystems stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $87.33, for a total value of $1,004,295.00. Following the sale, the director now directly owns 13,821 shares in the company, valued at $1,206,987.93. The disclosure for this sale can be found here. Insiders sold 18,920 shares of company stock worth $1,644,796 over the last three months. 0.87% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC bought a new stake in Spirit AeroSystems during the 1st quarter valued at approximately $101,000. Atria Investments LLC bought a new stake in Spirit AeroSystems during the 2nd quarter valued at approximately $201,000. Raymond James Financial Services Advisors Inc. bought a new stake in Spirit AeroSystems during the 2nd quarter valued at approximately $222,000. Point72 Asia Hong Kong Ltd bought a new stake in Spirit AeroSystems during the 1st quarter valued at approximately $232,000. Finally, Narwhal Capital Management bought a new stake in Spirit AeroSystems during the 2nd quarter valued at approximately $260,000.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and offers related spares and maintenance, repairs, and overhaul (MRO) services.
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