Spirit AeroSystems (SPR) Upgraded by Wells Fargo & Co to “Outperform”

Spirit AeroSystems (NYSE:SPR) was upgraded by equities researchers at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday.

SPR has been the topic of a number of other reports. Zacks Investment Research lowered shares of Spirit AeroSystems from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Jefferies Group upped their target price on shares of Spirit AeroSystems from $84.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, September 28th. Citigroup restated a “buy” rating and issued a $85.00 target price on shares of Spirit AeroSystems in a research note on Tuesday, September 26th. Berenberg Bank assumed coverage on shares of Spirit AeroSystems in a research note on Tuesday, November 7th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, ValuEngine downgraded shares of Spirit AeroSystems from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Spirit AeroSystems has a consensus rating of “Buy” and an average price target of $84.11.

Shares of Spirit AeroSystems (NYSE:SPR) opened at $96.55 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.56 and a quick ratio of 0.85. Spirit AeroSystems has a 1 year low of $51.85 and a 1 year high of $96.70. The firm has a market cap of $11,163.50, a PE ratio of 34.00, a P/E/G ratio of 1.58 and a beta of 1.16.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.26. Spirit AeroSystems had a net margin of 4.98% and a return on equity of 31.14%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the company posted $1.16 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. equities research analysts predict that Spirit AeroSystems will post 5.22 earnings per share for the current fiscal year.

In other news, SVP Duane F. Hawkins sold 5,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $83.04, for a total transaction of $415,200.00. Following the transaction, the senior vice president now directly owns 39,374 shares in the company, valued at $3,269,616.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert D. Johnson sold 500 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $84.13, for a total transaction of $42,065.00. Following the transaction, the director now owns 1,964 shares in the company, valued at $165,231.32. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPR. Alliancebernstein L.P. boosted its stake in shares of Spirit AeroSystems by 128.7% during the second quarter. Alliancebernstein L.P. now owns 289,464 shares of the aerospace company’s stock valued at $16,772,000 after purchasing an additional 162,894 shares in the last quarter. Raymond James Trust N.A. bought a new position in shares of Spirit AeroSystems during the second quarter valued at approximately $200,000. Ameriprise Financial Inc. boosted its stake in shares of Spirit AeroSystems by 18.7% during the second quarter. Ameriprise Financial Inc. now owns 561,199 shares of the aerospace company’s stock valued at $32,516,000 after purchasing an additional 88,542 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Spirit AeroSystems by 2.4% during the second quarter. BlackRock Inc. now owns 6,280,205 shares of the aerospace company’s stock valued at $363,874,000 after purchasing an additional 148,240 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Spirit AeroSystems by 24.4% during the second quarter. Amalgamated Bank now owns 21,943 shares of the aerospace company’s stock valued at $1,271,000 after purchasing an additional 4,304 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

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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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