Spirit Aerosystems Holdings, Inc. (SPR) PT Raised to $81.00 at Morgan Stanley
Spirit Aerosystems Holdings, Inc. (NYSE:SPR) had its price target increased by investment analysts at Morgan Stanley from $66.00 to $81.00 in a research report issued on Monday. The brokerage currently has an “overweight” rating on the aerospace company’s stock. Morgan Stanley’s price target would indicate a potential upside of 13.48% from the stock’s previous close.
Several other research analysts have also recently weighed in on SPR. Credit Suisse Group reaffirmed a “buy” rating and issued a $74.00 price target on shares of Spirit Aerosystems Holdings in a report on Friday, May 5th. 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 report on Tuesday, May 9th. BidaskClub raised shares of Spirit Aerosystems Holdings from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Jefferies Group LLC set a $68.00 price target on shares of Spirit Aerosystems Holdings and gave the stock a “buy” rating in a report on Thursday, June 22nd. Finally, Cowen and Company reiterated a “buy” rating and issued a $69.00 target price on shares of Spirit Aerosystems Holdings in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $68.13.
Spirit Aerosystems Holdings (SPR) traded up 0.22% during midday trading on Monday, hitting $71.54. The company had a trading volume of 701,856 shares. The firm has a market capitalization of $8.47 billion, a P/E ratio of 25.65 and a beta of 1.36. Spirit Aerosystems Holdings has a 52 week low of $42.26 and a 52 week high of $72.26. The firm’s 50 day moving average is $58.97 and its 200-day moving average is $57.64.
Spirit Aerosystems Holdings (NYSE:SPR) last released its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.37. The firm 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 30.43%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 earnings per share. On average, equities research analysts expect that Spirit Aerosystems Holdings will post $5.07 EPS for the current fiscal year.
Spirit Aerosystems Holdings announced that its board has initiated a stock repurchase plan on Wednesday, August 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the aerospace company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other Spirit Aerosystems Holdings news, Director Richard A. Gephardt sold 4,247 shares of the company’s stock in a transaction dated 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 directly owns 1,964 shares in the company, valued at $113,912. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SPR. Old Mutual Global Investors UK Ltd. raised its stake in Spirit Aerosystems Holdings by 90.7% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 195,008 shares of the aerospace company’s stock valued at $11,294,000 after buying an additional 92,750 shares during the last quarter. Breton Hill Capital Ltd. raised its stake in Spirit Aerosystems Holdings by 12.4% in the first quarter. Breton Hill Capital Ltd. now owns 17,517 shares of the aerospace company’s stock valued at $1,015,000 after buying an additional 1,932 shares during the last quarter. River Road Asset Management LLC raised its stake in Spirit Aerosystems Holdings by 8.4% in the first quarter. River Road Asset Management LLC now owns 318,720 shares of the aerospace company’s stock valued at $18,460,000 after buying an additional 24,677 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in Spirit Aerosystems Holdings by 12.0% in the first quarter. Glen Harbor Capital Management LLC now owns 73,948 shares of the aerospace company’s stock valued at $4,283,000 after buying an additional 7,896 shares during the last quarter. Finally, Northpointe Capital LLC acquired a new stake in Spirit Aerosystems Holdings during the first quarter valued at about $2,805,000. Institutional investors and hedge funds own 98.51% of the company’s stock.
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 also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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