ValuEngine Lowers Spirit AeroSystems (SPR) to Buy
Spirit AeroSystems (NYSE:SPR) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.
SPR has been the topic of a number of other research reports. Buckingham Research upped their target price on Spirit AeroSystems from $53.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, September 28th. Canaccord Genuity reiterated a “buy” rating and set a $86.00 target price on shares of Spirit AeroSystems in a report on Tuesday, October 31st. Royal Bank Of Canada set a $77.00 target price on Spirit AeroSystems and gave the stock a “sell” rating in a report on Sunday, November 12th. Cowen reiterated an “outperform” rating and set a $88.00 target price (up previously from $79.00) on shares of Spirit AeroSystems in a report on Thursday, September 28th. Finally, Goldman Sachs Group upgraded Spirit AeroSystems from a “sell” rating to a “neutral” rating and upped their target price for the stock from $54.00 to $68.00 in a report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $79.95.
Shares of Spirit AeroSystems (NYSE SPR) traded down $1.76 during trading hours on Tuesday, reaching $82.24. The company had a trading volume of 999,665 shares, compared to its average volume of 1,031,859. Spirit AeroSystems has a 52 week low of $51.85 and a 52 week high of $84.96. The stock has a market cap of $9,593.32, a P/E ratio of 16.97, a PEG ratio of 1.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.56.
In other news, Director Charles L. Chadwell sold 6,600 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $76.49, for a total value of $504,834.00. Following the sale, the director now directly owns 23,828 shares of the company’s stock, valued at approximately $1,822,603.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $84.13, for a total value of $42,065.00. Following the completion of the sale, the director now directly owns 1,964 shares in the company, valued at $165,231.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,188 shares of company stock worth $1,714,664. Insiders own 0.28% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in Spirit AeroSystems by 65.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,441 shares of the aerospace company’s stock valued at $105,000 after acquiring an additional 965 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Spirit AeroSystems by 9.5% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock valued at $106,000 after acquiring an additional 160 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Spirit AeroSystems by 351.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,511 shares of the aerospace company’s stock valued at $108,000 after acquiring an additional 1,955 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Spirit AeroSystems in the 2nd quarter valued at approximately $119,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Spirit AeroSystems in the 4th quarter valued at approximately $133,000. 96.21% of the stock is currently owned by hedge funds and other institutional investors.
About Spirit AeroSystems
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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