Credit Suisse Group reiterated their outperform rating on shares of Spirit AeroSystems (NYSE:SPR) in a research note published on Monday, February 4th, The Fly reports. Credit Suisse Group currently has a $103.00 price target on the aerospace company’s stock, up from their prior price target of $96.00.
Several other equities analysts have also issued reports on SPR. Standpoint Research raised shares of Spirit AeroSystems from a hold rating to a buy rating in a report on Friday, October 12th. Wells Fargo & Co set a $105.00 price target on shares of Spirit AeroSystems and gave the stock a buy rating in a report on Thursday, November 1st. Bank of America raised shares of Spirit AeroSystems from a neutral rating to a buy rating and lifted their price target for the stock from $100.00 to $105.00 in a report on Thursday, November 8th. Canaccord Genuity reaffirmed a buy rating and issued a $95.00 price target (down from $100.00) on shares of Spirit AeroSystems in a report on Monday, December 17th. Finally, Cowen reaffirmed a buy rating and issued a $100.00 price target on shares of Spirit AeroSystems in a report on Friday, January 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $104.23.
SPR stock traded up $0.55 during trading on Monday, hitting $99.35. 701,289 shares of the company’s stock traded hands, compared to its average volume of 1,117,853. The firm has a market cap of $10.33 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.67 and a beta of 1.28. The company has a quick ratio of 1.16, a current ratio of 1.80 and a debt-to-equity ratio of 1.51. Spirit AeroSystems has a 1 year low of $64.48 and a 1 year high of $99.98.
Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Friday, February 1st. The aerospace company reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.85 billion. Spirit AeroSystems had a net margin of 8.54% and a return on equity of 55.88%. Spirit AeroSystems’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $1.32 earnings per share. Analysts anticipate that Spirit AeroSystems will post 7.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 8th. Investors of record on Monday, March 18th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.48%. Spirit AeroSystems’s dividend payout ratio is presently 7.67%.
In related news, Director Paul E. Fulchino sold 20,000 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $95.33, for a total transaction of $1,906,600.00. Following the completion of the transaction, the director now directly owns 12,234 shares in the company, valued at $1,166,267.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacy Cozad sold 3,200 shares of the business’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $93.39, for a total transaction of $298,848.00. Following the transaction, the senior vice president now owns 21,036 shares of the company’s stock, valued at $1,964,552.04. The disclosure for this sale can be found here. Insiders have sold 53,700 shares of company stock valued at $5,023,848 over the last 90 days. 0.87% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SPR. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Spirit AeroSystems during the third quarter valued at $70,756,000. OZ Management LP lifted its position in Spirit AeroSystems by 33.1% during the third quarter. OZ Management LP now owns 2,711,165 shares of the aerospace company’s stock valued at $248,533,000 after purchasing an additional 674,692 shares during the period. Millennium Management LLC lifted its position in Spirit AeroSystems by 186.0% during the fourth quarter. Millennium Management LLC now owns 711,717 shares of the aerospace company’s stock valued at $51,308,000 after purchasing an additional 462,846 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Spirit AeroSystems by 95.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 704,218 shares of the aerospace company’s stock valued at $50,800,000 after purchasing an additional 343,921 shares during the period. Finally, Scopia Capital Management LP lifted its position in Spirit AeroSystems by 6.1% during the third quarter. Scopia Capital Management LP now owns 5,361,113 shares of the aerospace company’s stock valued at $491,453,000 after purchasing an additional 310,584 shares during the period. Institutional investors own 94.94% of the company’s stock.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and related spares, as well as maintenance, repairs, and overhaul (MRO) services.
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