Spirit Aerosystems Holdings, Inc. (NYSE:SPR) had its target price increased by Canaccord Genuity from $65.00 to $80.00 in a research report released on Thursday morning. The brokerage currently has a buy rating on the aerospace company’s stock.

Several other equities research analysts have also commented on SPR. Credit Suisse Group reissued a buy rating and issued a $74.00 price target on shares of Spirit Aerosystems Holdings in a report on Friday, May 5th. UBS AG raised shares of Spirit Aerosystems Holdings from a neutral rating to a buy rating and set a $63.00 price target for the company in a report on Tuesday, May 9th. BidaskClub raised shares of Spirit Aerosystems Holdings from a buy rating to a strong-buy rating in a report on Tuesday, June 13th. Jefferies Group LLC set a $68.00 price target on shares of Spirit Aerosystems Holdings and gave the stock a buy rating in a report on Thursday, June 22nd. Finally, Morgan Stanley reissued an overweight rating and issued a $66.00 price target (down previously from $67.00) on shares of Spirit Aerosystems Holdings in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $67.13.

Spirit Aerosystems Holdings (SPR) traded down 0.86% during trading on Thursday, reaching $71.38. 1,836,295 shares of the company traded hands. The firm has a 50-day moving average price of $58.97 and a 200-day moving average price of $57.64. The company has a market capitalization of $8.45 billion, a P/E ratio of 25.59 and a beta of 1.36. Spirit Aerosystems Holdings has a 52 week low of $42.26 and a 52 week high of $72.43.

Spirit Aerosystems Holdings (NYSE:SPR) last posted its earnings results on Wednesday, August 2nd. The aerospace company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.37. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Spirit Aerosystems Holdings had a net margin of 4.97% and a return on equity of 30.43%. The business’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. Analysts forecast that Spirit Aerosystems Holdings will post $5.02 earnings per share for the current fiscal year.

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Spirit Aerosystems Holdings announced that its board has initiated a share buyback program on Wednesday, August 2nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the aerospace company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, September 15th. Spirit Aerosystems Holdings’s payout ratio is 14.60%.

In other news, Director Richard A. Gephardt sold 4,247 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $58.00, for a total transaction of $246,326.00. Following the transaction, the director now owns 1,964 shares of the company’s stock, valued at approximately $113,912. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.28% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SPR. Clearbridge Investments LLC boosted its position in shares of Spirit Aerosystems Holdings by 0.4% in the first quarter. Clearbridge Investments LLC now owns 8,863 shares of the aerospace company’s stock valued at $513,000 after buying an additional 36 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Spirit Aerosystems Holdings by 0.7% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 13,700 shares of the aerospace company’s stock valued at $794,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Spirit Aerosystems Holdings by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 3,317 shares of the aerospace company’s stock valued at $192,000 after buying an additional 149 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Spirit Aerosystems Holdings by 9.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock valued at $106,000 after buying an additional 160 shares during the last quarter. Finally, Allen Investment Management LLC boosted its position in shares of Spirit Aerosystems Holdings by 2.6% in the first quarter. Allen Investment Management LLC now owns 7,280 shares of the aerospace company’s stock valued at $422,000 after buying an additional 183 shares during the last quarter. 98.20% of the stock is currently owned by hedge funds and other institutional investors.

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 also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.

Analyst Recommendations for Spirit Aerosystems Holdings (NYSE:SPR)

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