Zacks Investment Research Lowers 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 research note issued to investors 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 topic of a number of other research reports. Wells Fargo & Co. lowered Spirit Aerosystems Holdings from an “outperform” rating to a “market perform” rating in a report on Thursday, June 30th. They noted that the move was a valuation call. Robert W. Baird started coverage on Spirit Aerosystems Holdings in a report on Wednesday, October 5th. They issued an “outperform” rating and a $54.00 target price on the stock. Morgan Stanley restated a “buy” rating and issued a $57.00 target price on shares of Spirit Aerosystems Holdings in a report on Monday, August 15th. Canaccord Genuity restated a “buy” rating on shares of Spirit Aerosystems Holdings in a report on Wednesday, June 22nd. Finally, Jefferies Group restated a “buy” rating on shares of Spirit Aerosystems Holdings in a report on Monday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Spirit Aerosystems Holdings presently has a consensus rating of “Buy” and a consensus price target 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 company’s 50 day moving average price is $45.13 and its 200-day moving average price 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 for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.15. Spirit Aerosystems Holdings had a return on equity of 27.50% and a net margin of 9.95%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company earned $1.11 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that Spirit Aerosystems Holdings will post $4.44 earnings per share for the current fiscal year.
In other news, SVP John A. Pilla sold 8,688 shares of Spirit Aerosystems Holdings stock in a transaction on Friday, July 15th. The stock was sold at an average price of $43.56, for a total value of $378,449.28. Following the completion of the transaction, the senior vice president now directly owns 112,721 shares in the company, valued at $4,910,126.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.41% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Capstone Asset Management Co. boosted 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 valued at $283,000 after buying an additional 70 shares during the period. Regentatlantic Capital LLC boosted its position in shares of Spirit Aerosystems Holdings by 1.3% in the second quarter. Regentatlantic Capital LLC now owns 10,445 shares of the company’s stock valued at $449,000 after buying an additional 138 shares during the period. American International Group Inc. boosted its position in shares of Spirit Aerosystems Holdings by 5.4% in the second quarter. American International Group Inc. now owns 3,831 shares of the company’s stock valued at $165,000 after buying an additional 196 shares during the period. Bailard Inc. boosted its position in shares of Spirit Aerosystems Holdings by 0.6% in the second quarter. Bailard Inc. now owns 37,260 shares of the company’s stock valued at $1,602,000 after buying an additional 230 shares during the period. Finally, Globeflex Capital L P boosted its position in shares of Spirit Aerosystems Holdings by 0.6% in the second quarter. Globeflex Capital L P now owns 41,280 shares of the company’s stock valued at $1,775,000 after buying an additional 261 shares during the period.
Spirit Aerosystems Holdings Company Profile
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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