Cowen reissued their hold rating on shares of Spirit AeroSystems (NYSE:SPR) in a research note released on Monday morning, AnalystRatings.com reports. They currently have a $90.00 target price on the aerospace company’s stock.
A number of other research firms have also recently commented on SPR. SunTrust Banks dropped their price objective on Broadcom to $307.00 and set a buy rating for the company in a research report on Friday, June 14th. Jefferies Financial Group reiterated a buy rating on shares of Extended Stay America in a report on Tuesday, July 2nd. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Barclays restated a buy rating and set a $138.00 price objective on shares of EOG Resources in a report on Wednesday, March 13th. Finally, Zacks Investment Research downgraded Inflarx from a buy rating to a hold rating in a report on Friday, May 3rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Spirit AeroSystems presently has a consensus rating of Hold and an average price target of $97.66.
Shares of NYSE:SPR opened at $75.16 on Monday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.95 and a quick ratio of 1.39. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.46 and a beta of 1.28. The stock’s 50-day simple moving average is $80.76. Spirit AeroSystems has a 1 year low of $64.48 and a 1 year high of $100.34.
Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Wednesday, May 1st. The aerospace company reported $1.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.01. Spirit AeroSystems had a return on equity of 63.36% and a net margin of 8.78%. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The company’s revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts forecast that Spirit AeroSystems will post 6.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Monday, June 17th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Friday, June 14th. Spirit AeroSystems’s payout ratio is currently 7.67%.
In related news, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $79.95, for a total value of $39,975.00. Following the completion of the sale, the director now directly owns 2,925 shares in the company, valued at $233,853.75. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.84% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Spirit AeroSystems during the fourth quarter valued at $64,753,000. Millennium Management LLC increased its stake in shares of Spirit AeroSystems by 186.0% during the 4th quarter. Millennium Management LLC now owns 711,717 shares of the aerospace company’s stock worth $51,308,000 after purchasing an additional 462,846 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Spirit AeroSystems by 453.8% in the 1st quarter. Teacher Retirement System of Texas now owns 400,755 shares of the aerospace company’s stock worth $36,681,000 after buying an additional 328,394 shares during the period. AQR Capital Management LLC boosted its holdings in Spirit AeroSystems by 5.8% in the 1st quarter. AQR Capital Management LLC now owns 4,654,106 shares of the aerospace company’s stock worth $425,944,000 after buying an additional 255,883 shares during the period. Finally, Altimeter Capital Management LP bought a new position in Spirit AeroSystems in the 4th quarter worth approximately $13,032,000. Institutional investors and hedge funds own 96.55% of the company’s stock.
Spirit AeroSystems Company Profile
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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