Spirit AeroSystems Holdings, Inc. (NYSE:SPR) has received an average recommendation of “Buy” from the twenty-one ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $96.12.
SPR has been the subject of a number of recent analyst reports. Canaccord Genuity reissued a “buy” rating and set a $86.00 target price on shares of Spirit AeroSystems in a research report on Tuesday, October 31st. Wells Fargo & Co reiterated a “market perform” rating and issued a $85.00 target price (up 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 target price (up from $87.00) on shares of Spirit AeroSystems in a report on Thursday, November 2nd. Credit Suisse Group increased their target price on Spirit AeroSystems from $88.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Finally, Zacks Investment Research cut Spirit AeroSystems from a “buy” rating to a “hold” rating in a report on Friday, November 3rd.
Spirit AeroSystems (SPR) traded down $1.32 on Friday, reaching $84.53. 586,752 shares of the company traded hands, compared to its average volume of 1,145,809. Spirit AeroSystems has a 1-year low of $51.85 and a 1-year high of $105.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.56 and a quick ratio of 0.85. The company has a market capitalization of $10,445.47, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.30 and a beta of 1.37.
Spirit AeroSystems announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 2nd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Monday, March 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Friday, March 16th. Spirit AeroSystems’s dividend payout ratio is presently 13.25%.
In other news, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $84.13, for a total transaction of $42,065.00. Following the completion of the sale, the director now directly owns 1,964 shares of the company’s stock, valued at approximately $165,231.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.28% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Boston Partners grew its holdings in Spirit AeroSystems by 74.5% during the 3rd quarter. Boston Partners now owns 4,230,462 shares of the aerospace company’s stock valued at $328,791,000 after buying an additional 1,806,228 shares in the last quarter. LSV Asset Management boosted its position in shares of Spirit AeroSystems by 19.5% during the 4th quarter. LSV Asset Management now owns 5,080,842 shares of the aerospace company’s stock valued at $443,303,000 after acquiring an additional 827,943 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Spirit AeroSystems during the 3rd quarter valued at about $52,067,000. Koch Industries Inc. bought a new stake in Spirit AeroSystems in the 2nd quarter worth approximately $524,000. Finally, JPMorgan Chase & Co. lifted its position in Spirit AeroSystems by 79.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 745,016 shares of the aerospace company’s stock worth $57,813,000 after buying an additional 330,903 shares during the last quarter. 96.54% of the stock is owned by hedge funds and other institutional investors.
Spirit AeroSystems 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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