Spirit AeroSystems (SPR) Price Target Raised to $103.00

Spirit AeroSystems (NYSE:SPR) had its target price raised by Credit Suisse Group from $102.00 to $103.00 in a research report report published on Thursday morning. Credit Suisse Group currently has an outperform rating on the aerospace company’s stock.

Other equities research analysts also recently issued research reports about the company. Cowen reissued a buy rating and set a $100.00 price objective on shares of Spirit AeroSystems in a report on Wednesday, August 1st. Zacks Investment Research raised Spirit AeroSystems from a hold rating to a buy rating and set a $96.00 price objective on the stock in a report on Tuesday, July 10th. UBS Group assumed coverage on Spirit AeroSystems in a report on Wednesday, August 15th. They set a buy rating and a $110.00 price objective on the stock. Standpoint Research raised Spirit AeroSystems from a hold rating to a buy rating in a report on Friday, October 12th. Finally, ValuEngine raised Spirit AeroSystems from a hold rating to a buy rating in a report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Spirit AeroSystems presently has an average rating of Buy and a consensus target price of $105.56.

Shares of SPR stock traded down $0.52 during trading hours on Thursday, reaching $86.63. The company’s stock had a trading volume of 638,045 shares, compared to its average volume of 1,114,373. The company has a market cap of $9.23 billion, a PE ratio of 15.07, a P/E/G ratio of 1.29 and a beta of 1.25. Spirit AeroSystems has a fifty-two week low of $77.54 and a fifty-two week high of $105.20. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.04 and a current ratio of 1.57.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results on Wednesday, October 31st. The aerospace company reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.07. Spirit AeroSystems had a return on equity of 46.86% and a net margin of 7.92%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the business posted $1.26 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Spirit AeroSystems will post 6.2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Monday, December 17th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.55%. The ex-dividend date is Friday, December 14th. Spirit AeroSystems’s payout ratio is presently 8.97%.

In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $85.37, for a total transaction of $42,685.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Duane F. Hawkins sold 3,500 shares of Spirit AeroSystems stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $85.50, for a total value of $299,250.00. Following the transaction, the senior vice president now directly owns 41,191 shares in the company, valued at $3,521,830.50. The disclosure for this sale can be found here. Insiders have sold a total of 18,920 shares of company stock worth $1,644,796 over the last ninety days. Company insiders own 0.87% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SPR. Truvestments Capital LLC acquired a new position in Spirit AeroSystems during the 3rd quarter worth about $154,000. Atria Investments LLC acquired a new position in Spirit AeroSystems during the 2nd quarter worth about $201,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Spirit AeroSystems in the 2nd quarter worth about $222,000. Narwhal Capital Management bought a new position in shares of Spirit AeroSystems in the 2nd quarter worth about $260,000. Finally, Hartford Investment Management Co. bought a new position in shares of Spirit AeroSystems in the 2nd quarter worth about $299,000.

Spirit AeroSystems Company Profile

Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through 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 offers related spares and maintenance, repairs, and overhaul (MRO) services.

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Analyst Recommendations for Spirit AeroSystems (NYSE:SPR)

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