Spirit Aerosystems Holdings, Inc. (NYSE:SPR) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR) from a hold rating to a buy rating in a research report released on Saturday morning.

Several other analysts have also issued reports on the company. UBS AG upgraded Spirit Aerosystems Holdings from a neutral rating to a buy rating and set a $63.00 target price on the stock in a research note on Tuesday, May 9th. Morgan Stanley restated an overweight rating and issued a $66.00 target price (down from $67.00) on shares of Spirit Aerosystems Holdings in a research note on Thursday, July 13th. Jefferies Group LLC set a $68.00 target price on Spirit Aerosystems Holdings and gave the company a buy rating in a research note on Thursday, June 22nd. Cowen and Company restated a buy rating and issued a $69.00 target price on shares of Spirit Aerosystems Holdings in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group restated an outperform rating and issued a $80.00 target price (up from $74.00) on shares of Spirit Aerosystems Holdings in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $68.13.

Shares of Spirit Aerosystems Holdings (SPR) opened at 71.30 on Friday. The company has a market cap of $8.44 billion, a PE ratio of 25.56 and a beta of 1.36. The stock’s 50 day moving average price is $58.97 and its 200-day moving average price is $57.64. Spirit Aerosystems Holdings has a 52 week low of $42.26 and a 52 week high of $72.26.

Spirit Aerosystems Holdings (NYSE:SPR) last issued its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.37. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.74 billion. Spirit Aerosystems Holdings had a return on equity of 30.43% and a net margin of 4.97%. Spirit Aerosystems Holdings’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the company posted $1.21 earnings per share. Analysts expect that Spirit Aerosystems Holdings will post $5.07 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Monday, September 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, September 15th. Spirit Aerosystems Holdings’s dividend payout ratio (DPR) is presently 14.60%.

Spirit Aerosystems Holdings declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 2nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

In other news, Director Richard A. Gephardt sold 4,247 shares of Spirit Aerosystems Holdings stock in a transaction on Friday, June 9th. The stock was sold at an average price of $58.00, for a total value of $246,326.00. Following the completion of the transaction, the director now directly owns 1,964 shares in the company, valued at $113,912. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.28% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of SPR. Breton Hill Capital Ltd. boosted its position in Spirit Aerosystems Holdings by 12.4% in the first quarter. Breton Hill Capital Ltd. now owns 17,517 shares of the aerospace company’s stock valued at $1,015,000 after buying an additional 1,932 shares during the last quarter. River Road Asset Management LLC boosted its position in Spirit Aerosystems Holdings by 8.4% in the first quarter. River Road Asset Management LLC now owns 318,720 shares of the aerospace company’s stock valued at $18,460,000 after buying an additional 24,677 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in Spirit Aerosystems Holdings by 12.0% in the first quarter. Glen Harbor Capital Management LLC now owns 73,948 shares of the aerospace company’s stock valued at $4,283,000 after buying an additional 7,896 shares during the last quarter. Northpointe Capital LLC acquired a new position in Spirit Aerosystems Holdings during the first quarter valued at approximately $2,805,000. Finally, Meritage Portfolio Management boosted its position in Spirit Aerosystems Holdings by 1.9% in the first quarter. Meritage Portfolio Management now owns 106,677 shares of the aerospace company’s stock valued at $6,179,000 after buying an additional 1,971 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Spirit Aerosystems Holdings 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.

Analyst Recommendations for Spirit Aerosystems Holdings (NYSE:SPR)

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