Canaccord Genuity Reaffirms Buy Rating for Spirit AeroSystems (SPR)

Spirit AeroSystems (NYSE:SPR)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a report issued on Monday.

A number of other brokerages have also issued reports on SPR. Royal Bank of Canada set a $77.00 price target on Spirit AeroSystems and gave the company a “sell” rating in a report on Sunday, November 12th. Zacks Investment Research upgraded Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Wednesday, January 10th. Wells Fargo & Co reiterated a “market perform” rating and issued a $85.00 price target (up previously from $78.00) on shares of Spirit AeroSystems in a report on Thursday, November 2nd. Sanford C. Bernstein reiterated an “in-line” rating and issued a $98.00 price target (up previously from $87.00) on shares of Spirit AeroSystems in a report on Thursday, November 2nd. Finally, ValuEngine lowered Spirit AeroSystems from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $92.67.

Spirit AeroSystems (NYSE:SPR) opened at $101.41 on Monday. Spirit AeroSystems has a 12-month low of $51.85 and a 12-month high of $101.53. The stock has a market capitalization of $11,725.43, a P/E ratio of 35.71, a price-to-earnings-growth ratio of 1.62 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.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.26. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. Spirit AeroSystems had a return on equity of 31.14% and a net margin of 4.98%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 earnings per share. equities research analysts forecast that Spirit AeroSystems will post 5.22 EPS for the current fiscal year.

In other Spirit AeroSystems news, SVP Duane F. Hawkins sold 5,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $83.04, for a total transaction of $415,200.00. Following the completion of the sale, the senior vice president now owns 39,374 shares in the company, valued at $3,269,616.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert D. Johnson sold 500 shares of the company’s stock in a transaction 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 sale, the director now owns 1,964 shares of the company’s stock, valued at approximately $165,231.32. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Strs Ohio acquired a new position in shares of Spirit AeroSystems during the fourth quarter worth $130,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Spirit AeroSystems during the fourth quarter worth $166,000. Nine Chapters Capital Management LLC acquired a new position in shares of Spirit AeroSystems during the third quarter worth $218,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Spirit AeroSystems during the third quarter worth $227,000. Finally, Hillsdale Investment Management Inc. increased its position in shares of Spirit AeroSystems by 23.2% during the second quarter. Hillsdale Investment Management Inc. now owns 3,930 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 740 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Spirit AeroSystems (NYSE:SPR)

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