Spirit AeroSystems (NYSE:SPR)‘s stock had its “buy” rating reaffirmed by research analysts at Seaport Global Securities in a report issued on Friday. They presently have a $110.00 target price on the aerospace company’s stock. Seaport Global Securities’ target price indicates a potential upside of 36.63% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Jefferies Group reissued a “buy” rating and issued a $112.00 price objective on shares of Spirit AeroSystems in a research note on Monday, February 5th. Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Spirit AeroSystems in a research note on Monday, February 5th. ValuEngine raised shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $115.00 price target on shares of Spirit AeroSystems in a research note on Monday, January 29th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $129.00 price target on shares of Spirit AeroSystems in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $99.32.
Shares of NYSE:SPR opened at $80.51 on Friday. The company has a market capitalization of $9,309.10, a P/E ratio of 15.05, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 0.74, a current ratio of 1.64 and a debt-to-equity ratio of 0.62. Spirit AeroSystems has a one year low of $51.85 and a one year high of $105.20.
Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Friday, February 2nd. The aerospace company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.10. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. Spirit AeroSystems had a net margin of 5.08% and a return on equity of 34.03%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. research analysts forecast that Spirit AeroSystems will post 6.41 earnings per share for the current fiscal year.
Spirit AeroSystems announced that its board has authorized a stock buyback program on Friday, February 2nd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, SVP William Edward Brown sold 5,500 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $92.36, for a total transaction of $507,980.00. Following the completion of the sale, the senior vice president now directly owns 21,664 shares in the company, valued at $2,000,887.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Stacy Cozad sold 1,100 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $91.47, for a total transaction of $100,617.00. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of SPR. BlackRock Inc. increased its position in shares of Spirit AeroSystems by 18.7% during the fourth quarter. BlackRock Inc. now owns 7,616,743 shares of the aerospace company’s stock worth $664,561,000 after buying an additional 1,200,213 shares during the period. LSV Asset Management grew its holdings in Spirit AeroSystems by 19.5% in the fourth quarter. LSV Asset Management now owns 5,080,842 shares of the aerospace company’s stock worth $443,303,000 after purchasing an additional 827,943 shares during the period. Impala Asset Management LLC acquired a new stake in Spirit AeroSystems in the fourth quarter worth $28,076,000. APG Asset Management N.V. grew its holdings in Spirit AeroSystems by 167.3% in the fourth quarter. APG Asset Management N.V. now owns 454,400 shares of the aerospace company’s stock worth $33,017,000 after purchasing an additional 284,400 shares during the period. Finally, Baird Financial Group Inc. acquired a new stake in Spirit AeroSystems in the fourth quarter worth $22,778,000. Institutional investors own 97.35% of the company’s stock.
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About Spirit AeroSystems
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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