Spirit Aerosystems Holdings Inc. (SPR) Shares Down 2.8%
Spirit Aerosystems Holdings Inc. (NYSE:SPR) shares dropped 2.8% during trading on Thursday . The company traded as low as $44.72 and last traded at $44.73, with a volume of 592,229 shares trading hands. The stock had previously closed at $46.01.
SPR has been the subject of a number of analyst reports. Buckingham Research raised Spirit Aerosystems Holdings from an “underperform” rating to a “neutral” rating and increased their price target for the company from $41.00 to $44.00 in a report on Thursday, June 9th. Jefferies Group reissued a “buy” rating and issued a $66.00 price target on shares of Spirit Aerosystems Holdings in a report on Wednesday, June 29th. Barclays PLC reduced their price target on Spirit Aerosystems Holdings from $56.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, June 9th. Zacks Investment Research downgraded Spirit Aerosystems Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, April 6th. Finally, Bank of America Corp. downgraded Spirit Aerosystems Holdings from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a report on Wednesday, April 20th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Spirit Aerosystems Holdings currently has an average rating of “Buy” and a consensus target price of $55.39.
The stock has a market capitalization of $5.27 billion and a PE ratio of 7.81. The stock’s 50-day moving average price is $43.43 and its 200 day moving average price is $45.26.
Spirit Aerosystems Holdings (NYSE:SPR) last released its earnings results on Wednesday, August 3rd. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. During the same period last year, the business earned $1.11 earnings per share. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.69 billion. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that Spirit Aerosystems Holdings Inc. will post $4.49 earnings per share for the current year.
In related news, SVP Duane F. Hawkins sold 9,923 shares of Spirit Aerosystems Holdings stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $42.09, for a total transaction of $417,659.07. Following the sale, the senior vice president now directly owns 37,436 shares of the company’s stock, valued at $1,575,681.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP John A. Pilla sold 8,688 shares of Spirit Aerosystems Holdings stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $43.56, for a total value of $378,449.28. Following the sale, the senior vice president now directly owns 112,721 shares in the company, valued at $4,910,126.76. The disclosure for this sale can be found here.
A number of large investors recently added to or reduced their stakes in SPR. Airain ltd increased its stake in Spirit Aerosystems Holdings by 240.9% in the fourth quarter. Airain ltd now owns 39,316 shares of the company’s stock worth $1,969,000 after buying an additional 27,783 shares during the last quarter. TrimTabs Asset Management LLC bought a new stake in Spirit Aerosystems Holdings during the fourth quarter worth $2,115,000. US Bancorp DE increased its stake in Spirit Aerosystems Holdings by 35.9% in the fourth quarter. US Bancorp DE now owns 44,122 shares of the company’s stock worth $2,210,000 after buying an additional 11,645 shares during the last quarter. Marshall Wace LLP increased its stake in Spirit Aerosystems Holdings by 1,411.5% in the fourth quarter. Marshall Wace LLP now owns 527,832 shares of the company’s stock worth $26,429,000 after buying an additional 492,911 shares during the last quarter. Finally, Eaton Vance Management increased its stake in Spirit Aerosystems Holdings by 3.7% in the fourth quarter. Eaton Vance Management now owns 361,472 shares of the company’s stock worth $18,099,000 after buying an additional 12,770 shares during the last quarter.
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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