Spirit AeroSystems (SPR) Upgraded by Wells Fargo & Co to “Outperform”
Spirit AeroSystems (NYSE:SPR) was upgraded by equities researchers at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a report released on Tuesday.
Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Spirit AeroSystems from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Jefferies Group raised their price target on shares of Spirit AeroSystems from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 28th. Citigroup reaffirmed a “buy” rating and issued a $85.00 price target on shares of Spirit AeroSystems in a report on Tuesday, September 26th. Canaccord Genuity reaffirmed a “buy” rating and issued a $86.00 price target (up previously from $80.00) on shares of Spirit AeroSystems in a report on Thursday, September 28th. Finally, Zacks Investment Research raised shares of Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $84.11.
Shares of Spirit AeroSystems (NYSE:SPR) opened at $96.55 on Tuesday. The firm has a market cap of $11,163.50, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 1.58 and a beta of 1.16. Spirit AeroSystems has a one year low of $51.85 and a one year high of $96.70. The company has a quick ratio of 0.85, a current ratio of 1.56 and a debt-to-equity ratio of 0.60.
Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.26. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Spirit AeroSystems had a net margin of 4.98% and a return on equity of 31.14%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. equities research analysts anticipate that Spirit AeroSystems will post 5.22 EPS for the current year.
In related news, SVP Duane F. Hawkins sold 5,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $83.04, for a total transaction of $415,200.00. Following the completion of the transaction, the senior vice president now owns 39,374 shares of the company’s stock, valued at $3,269,616.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $84.13, for a total transaction of $42,065.00. Following the transaction, the director now directly owns 1,964 shares of the company’s stock, valued at approximately $165,231.32. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Fisher Asset Management LLC grew its position in Spirit AeroSystems by 839.5% during the third quarter. Fisher Asset Management LLC now owns 138,680 shares of the aerospace company’s stock valued at $10,778,000 after buying an additional 123,919 shares during the period. Koch Industries Inc. acquired a new stake in Spirit AeroSystems during the second quarter valued at $524,000. Lockheed Martin Investment Management Co. grew its position in Spirit AeroSystems by 30.0% during the third quarter. Lockheed Martin Investment Management Co. now owns 26,000 shares of the aerospace company’s stock valued at $2,021,000 after buying an additional 6,000 shares during the period. Alyeska Investment Group L.P. grew its position in shares of Spirit AeroSystems by 67.5% in the third quarter. Alyeska Investment Group L.P. now owns 554,578 shares of the aerospace company’s stock valued at $43,102,000 after purchasing an additional 223,413 shares during the period. Finally, Caxton Associates LP acquired a new stake in shares of Spirit AeroSystems in the third quarter valued at about $420,000. 96.18% of the stock is owned by hedge funds and other institutional investors.
About Spirit AeroSystems
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.
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