Spirit Aerosystems Holdings Inc. (SPR) Rating Increased to Buy at Zacks Investment Research
Spirit Aerosystems Holdings Inc. (NYSE:SPR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $51.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 8.26% from the stock’s current price.
According to Zacks, “SPIRIT AEROSYSTEMS is the world’s largest independent supplier of commercial airplane assemblies and components. In addition to its Kansas facility, Spirit has operations in Tulsa and McAlester, Okla., Prestwick, Scotland, and Samlesbury, England. In the U.S., Spirit’s core products include fuselages, pylons, nacelles and wing components. Additionally, Spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in North America and Europe. Spirit Europe produces wing components for a host of customers, including Airbus. “
Several other research firms have also weighed in on SPR. Buckingham Research raised Spirit Aerosystems Holdings from an “underperform” rating to a “neutral” rating and increased their target price for the company from $41.00 to $44.00 in a research note on Thursday, June 9th. Jefferies Group reissued a “buy” rating and issued a $66.00 target price on shares of Spirit Aerosystems Holdings in a research note on Wednesday, June 29th. Barclays PLC cut their target price on Spirit Aerosystems Holdings from $56.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, June 9th. JPMorgan Chase & Co. cut their target price on Spirit Aerosystems Holdings from $62.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, July 7th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $48.00 target price (down previously from $53.00) on shares of Spirit Aerosystems Holdings in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $54.94.
Shares of Spirit Aerosystems Holdings (NYSE:SPR) opened at 47.11 on Wednesday. The stock’s 50 day moving average price is $45.05 and its 200-day moving average price is $45.25. Spirit Aerosystems Holdings has a 1-year low of $40.03 and a 1-year high of $56.20. The stock has a market capitalization of $6.08 billion, a P/E ratio of 9.51 and a beta of 1.22.
Spirit Aerosystems Holdings (NYSE:SPR) last released its earnings results on Wednesday, August 3rd. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.15. The company earned $1.80 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Spirit Aerosystems Holdings had a return on equity of 27.50% and a net margin of 9.95%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.11 EPS. Equities research analysts anticipate that Spirit Aerosystems Holdings will post $4.44 EPS for the current fiscal year.
In other Spirit Aerosystems Holdings news, SVP John A. Pilla sold 8,688 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $43.56, for a total value of $378,449.28. Following the completion of the transaction, the senior vice president now directly owns 112,721 shares in the company, valued at $4,910,126.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of Spirit Aerosystems Holdings by 65.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,441 shares of the company’s stock valued at $105,000 after buying an additional 965 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Spirit Aerosystems Holdings by 351.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,511 shares of the company’s stock valued at $108,000 after buying an additional 1,955 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Spirit Aerosystems Holdings during the second quarter valued at approximately $119,000. Advisor Group Inc. acquired a new position in shares of Spirit Aerosystems Holdings during the second quarter valued at approximately $125,000. Finally, American International Group Inc. increased its position in shares of Spirit Aerosystems Holdings by 5.4% in the second quarter. American International Group Inc. now owns 3,831 shares of the company’s stock valued at $165,000 after buying an additional 196 shares in the last quarter.
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 a supplier of aero-structures to The Boeing Company (Boeing) and Airbus SAS (Airbus). The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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