Zacks Investment Research Downgrades Spirit Aerosystems Holdings Inc. (SPR) to Hold
Spirit Aerosystems Holdings Inc. (NYSE:SPR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “SPIRIT AEROSYSTEMS is the world’s largest independent supplier of commercial airplane assemblies and components. In addition to its Kansas facility, Spirit has operations in Tulsa and McAlester, Okla., Prestwick, Scotland, and Samlesbury, England. In the U.S., Spirit’s core products include fuselages, pylons, nacelles and wing components. Additionally, Spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in North America and Europe. Spirit Europe produces wing components for a host of customers, including Airbus. “
SPR has been the subject of a number of other research reports. Wells Fargo & Co. cut shares of Spirit Aerosystems Holdings from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 30th. They noted that the move was a valuation call. Robert W. Baird initiated coverage on shares of Spirit Aerosystems Holdings in a research note on Wednesday, October 5th. They set an “outperform” rating and a $54.00 target price for the company. Morgan Stanley restated a “buy” rating and set a $57.00 target price on shares of Spirit Aerosystems Holdings in a research note on Monday, August 15th. Canaccord Genuity reiterated a “buy” rating on shares of Spirit Aerosystems Holdings in a research note on Wednesday, June 22nd. Finally, Jefferies Group reiterated a “buy” rating on shares of Spirit Aerosystems Holdings in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $54.94.
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Spirit Aerosystems Holdings (NYSE:SPR) opened at 45.85 on Thursday. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 9.25 and a beta of 1.22. Spirit Aerosystems Holdings has a 12 month low of $40.03 and a 12 month high of $56.20. The stock’s 50 day moving average is $45.13 and its 200-day moving average is $45.22.
Spirit Aerosystems Holdings (NYSE:SPR) last posted its earnings results on Wednesday, August 3rd. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. The company earned $1.80 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Spirit Aerosystems Holdings had a net margin of 9.95% and a return on equity of 27.50%. Spirit Aerosystems Holdings’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.11 EPS. Equities analysts anticipate that Spirit Aerosystems Holdings will post $4.44 earnings per share for the current fiscal year.
In other Spirit Aerosystems Holdings news, SVP John A. Pilla sold 8,688 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $43.56, for a total transaction of $378,449.28. Following the sale, the senior vice president now directly owns 112,721 shares of the company’s stock, valued at approximately $4,910,126.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Capstone Asset Management Co. increased its position in shares of Spirit Aerosystems Holdings by 1.1% in the third quarter. Capstone Asset Management Co. now owns 6,350 shares of the company’s stock worth $283,000 after buying an additional 70 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Spirit Aerosystems Holdings by 47.2% in the third quarter. BNP Paribas Arbitrage SA now owns 10,173 shares of the company’s stock worth $453,000 after buying an additional 3,261 shares during the period. Macquarie Group Ltd. increased its position in shares of Spirit Aerosystems Holdings by 41.8% in the second quarter. Macquarie Group Ltd. now owns 51,200 shares of the company’s stock worth $2,202,000 after buying an additional 15,100 shares during the period. Royal Bank of Canada increased its position in shares of Spirit Aerosystems Holdings by 14.2% in the second quarter. Royal Bank of Canada now owns 168,207 shares of the company’s stock worth $7,232,000 after buying an additional 20,874 shares during the period. Finally, Stifel Financial Corp increased its position in shares of Spirit Aerosystems Holdings by 12.7% in the second quarter. Stifel Financial Corp now owns 14,915 shares of the company’s stock worth $642,000 after buying an additional 1,680 shares during the period.
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 a supplier of aero-structures to The Boeing Company (Boeing) and Airbus SAS (Airbus). The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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