Canaccord Genuity reiterated their buy rating on shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) in a research report report published on Tuesday. Canaccord Genuity currently has a $86.00 price target on the aerospace company’s stock.
SPR has been the topic of several other research reports. Cowen and Company reiterated a buy rating and set a $69.00 price target on shares of Spirit Aerosystems Holdings in a research report on Wednesday, August 2nd. Citigroup Inc. reiterated a buy rating and set a $91.00 price target (up previously from $85.00) on shares of Spirit Aerosystems Holdings in a research report on Monday, October 9th. Credit Suisse Group reiterated an outperform rating and set a $80.00 price target (up previously from $74.00) on shares of Spirit Aerosystems Holdings in a research report on Thursday, August 3rd. ValuEngine upgraded shares of Spirit Aerosystems Holdings from a buy rating to a strong-buy rating in a research report on Friday, September 1st. Finally, BidaskClub cut shares of Spirit Aerosystems Holdings from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, six have issued 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 an average price target of $76.17.
Shares of Spirit Aerosystems Holdings (NYSE SPR) traded down 1.32% during mid-day trading on Tuesday, hitting $79.04. The stock had a trading volume of 993,131 shares. The firm has a market capitalization of $9.35 billion, a price-to-earnings ratio of 28.38 and a beta of 1.36. Spirit Aerosystems Holdings has a 1-year low of $51.85 and a 1-year high of $81.33. The stock’s 50-day moving average is $78.68 and its 200 day moving average is $65.68.
Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings data on Monday, October 30th. The aerospace company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.82%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 earnings per share. Equities research analysts predict that Spirit Aerosystems Holdings will post $5.25 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Monday, December 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Friday, December 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is presently 14.60%.
Spirit Aerosystems Holdings announced that its Board of Directors has authorized a share buyback program on Wednesday, August 2nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.
In other news, Director Charles L. Chadwell sold 6,600 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $76.49, for a total transaction of $504,834.00. Following the sale, the director now owns 23,828 shares in the company, valued at $1,822,603.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP John A. Pilla sold 10,088 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $74.60, for a total transaction of $752,564.80. Following the sale, the senior vice president now owns 93,258 shares in the company, valued at approximately $6,957,046.80. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its holdings in shares of Spirit Aerosystems Holdings by 9.5% during 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 during the last quarter. Nine Chapters Capital Management LLC purchased a new stake in shares of Spirit Aerosystems Holdings during the third quarter valued at approximately $218,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Spirit Aerosystems Holdings during the third quarter valued at approximately $227,000. Raymond James Trust N.A. purchased a new stake in shares of Spirit Aerosystems Holdings during the second quarter valued at approximately $200,000. Finally, State of Alaska Department of Revenue grew its holdings in shares of Spirit Aerosystems Holdings by 6.7% during the second quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock valued at $205,000 after buying an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 98.96% 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.
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