Spirit Aerosystems Holdings, Inc. (SPR) Given “Buy” Rating at Robert W. Baird
Spirit Aerosystems Holdings, Inc. (NYSE:SPR)‘s stock had its “buy” rating restated by equities research analysts at Robert W. Baird in a research note issued to investors on Friday. They presently have a $86.00 price objective on the aerospace company’s stock. Robert W. Baird’s price target points to a potential upside of 13.83% from the stock’s previous close.
A number of other equities research analysts have also recently issued reports on the company. ValuEngine upgraded Spirit Aerosystems Holdings from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. UBS AG restated a “buy” rating and issued a $81.00 price objective (up from $63.00) on shares of Spirit Aerosystems Holdings in a research note on Monday, August 21st. Goldman Sachs Group, Inc. (The) upgraded Spirit Aerosystems Holdings from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $54.00 to $68.00 in a research note on Thursday, August 10th. Zacks Investment Research upgraded Spirit Aerosystems Holdings from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Thursday, August 10th. Finally, Canaccord Genuity restated a “buy” rating and issued a $80.00 price objective (up from $65.00) on shares of Spirit Aerosystems Holdings in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $72.06.
Spirit Aerosystems Holdings (NYSE:SPR) traded up 0.05% during trading on Friday, hitting $75.55. 904,067 shares of the company traded hands. The stock has a 50 day moving average price of $69.19 and a 200 day moving average price of $60.41. Spirit Aerosystems Holdings has a 12-month low of $42.26 and a 12-month high of $76.15. The company has a market capitalization of $8.94 billion, a P/E ratio of 27.13 and a beta of 1.31.
Spirit Aerosystems Holdings (NYSE:SPR) last announced its quarterly earnings data on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.37. Spirit Aerosystems Holdings had a return on equity of 30.82% and a net margin of 4.97%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the business posted $1.21 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities analysts anticipate that Spirit Aerosystems Holdings will post $5.19 earnings per share for the current year.
Spirit Aerosystems Holdings declared that its Board of Directors has approved a stock buyback program on Wednesday, August 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the aerospace company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
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In other news, SVP John A. Pilla sold 10,088 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $74.60, for a total transaction of $752,564.80. Following the completion of the transaction, the senior vice president now owns 93,258 shares of the company’s stock, valued at $6,957,046.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SPR. Capstone Asset Management Co. grew its holdings in shares of Spirit Aerosystems Holdings by 4.1% during the first quarter. Capstone Asset Management Co. now owns 6,600 shares of the aerospace company’s stock worth $382,000 after purchasing an additional 260 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Spirit Aerosystems Holdings by 25.7% during the first quarter. Canada Pension Plan Investment Board now owns 13,700 shares of the aerospace company’s stock worth $794,000 after purchasing an additional 2,800 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Spirit Aerosystems Holdings by 5.6% during the first quarter. Advisors Asset Management Inc. now owns 38,766 shares of the aerospace company’s stock worth $2,245,000 after purchasing an additional 2,057 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Spirit Aerosystems Holdings during the first quarter worth about $1,429,000. Finally, Suntrust Banks Inc. purchased a new position in shares of Spirit Aerosystems Holdings during the first quarter worth about $1,791,000. 98.60% 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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