Spirit Aerosystems Holdings, Inc. (NYSE:SPR) Receives Outperform Rating from Cowen and Company
Spirit Aerosystems Holdings, Inc. (NYSE:SPR)‘s stock had its “outperform” rating restated by investment analysts at Cowen and Company in a research report issued to clients and investors on Tuesday. They currently have a $79.00 price objective on the aerospace company’s stock, up from their prior price objective of $69.00. Cowen and Company’s price objective suggests a potential upside of 11.66% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. UBS AG upgraded Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Tuesday, May 9th. Credit Suisse Group restated a “buy” rating and issued a $74.00 target price on shares of Spirit Aerosystems Holdings in a research report on Friday, May 5th. BidaskClub downgraded Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Jefferies Group LLC set a $68.00 target price on Spirit Aerosystems Holdings and gave the company a “buy” rating in a research report on Thursday, June 22nd. Finally, Seaport Global Securities upgraded Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $83.00 in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Spirit Aerosystems Holdings currently has an average rating of “Hold” and an average target price of $68.80.
Spirit Aerosystems Holdings (NYSE:SPR) traded down 0.77% during mid-day trading on Tuesday, reaching $70.75. The company’s stock had a trading volume of 1,190,499 shares. The company has a market cap of $8.37 billion, a PE ratio of 25.37 and a beta of 1.36. Spirit Aerosystems Holdings has a 12-month low of $42.26 and a 12-month high of $73.86. The firm’s 50 day moving average is $60.19 and its 200-day moving average is $57.94.
Spirit Aerosystems Holdings (NYSE:SPR) last released its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.37. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.74 billion. Spirit Aerosystems Holdings had a return on equity of 30.43% and a net margin of 4.97%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 earnings per share. Equities analysts anticipate that Spirit Aerosystems Holdings will post $5.07 earnings per share for the current fiscal year.
Spirit Aerosystems Holdings announced that its board has initiated a stock repurchase program on Wednesday, August 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the aerospace company to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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In other Spirit Aerosystems Holdings news, Director Richard A. Gephardt sold 4,247 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was 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 owns 1,964 shares of the company’s stock, valued at $113,912. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.28% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of SPR. Vanguard Group Inc. boosted its stake in Spirit Aerosystems Holdings by 5.6% in the first quarter. Vanguard Group Inc. now owns 11,549,361 shares of the aerospace company’s stock valued at $668,939,000 after buying an additional 616,129 shares during the period. BlackRock Inc. boosted its stake in Spirit Aerosystems Holdings by 11,339.0% in the first quarter. BlackRock Inc. now owns 6,131,965 shares of the aerospace company’s stock valued at $355,164,000 after buying an additional 6,078,359 shares during the period. Goldman Sachs Group Inc. boosted its stake in Spirit Aerosystems Holdings by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,008,637 shares of the aerospace company’s stock valued at $290,100,000 after buying an additional 305,946 shares during the period. AQR Capital Management LLC boosted its stake in Spirit Aerosystems Holdings by 12.7% in the first quarter. AQR Capital Management LLC now owns 3,883,585 shares of the aerospace company’s stock valued at $224,937,000 after buying an additional 436,784 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Spirit Aerosystems Holdings by 11.1% in the first quarter. Wells Fargo & Company MN now owns 3,695,032 shares of the aerospace company’s stock valued at $214,016,000 after buying an additional 369,308 shares during the period. 98.51% of the stock is owned by institutional investors.
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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