Spirit Aerosystems Holdings, Inc. (SPR) PT Set at $77.00 by Royal Bank Of Canada

Spirit Aerosystems Holdings, Inc. (NYSE:SPR) has been assigned a $77.00 target price by equities researchers at Royal Bank Of Canada in a research note issued on Sunday. The brokerage currently has a “sell” rating on the aerospace company’s stock. Royal Bank Of Canada’s target price suggests a potential downside of 4.05% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Seaport Global Securities upgraded shares of Spirit Aerosystems Holdings from a “neutral” rating to a “buy” rating and upped their price target for the company from $62.00 to $83.00 in a report on Thursday, August 3rd. Cowen and Company restated a “buy” rating and issued a $69.00 price objective on shares of Spirit Aerosystems Holdings in a report on Wednesday, August 2nd. BidaskClub lowered shares of Spirit Aerosystems Holdings from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and issued a $68.00 price objective on shares of Spirit Aerosystems Holdings in a report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded shares of Spirit Aerosystems Holdings from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $79.95.

Shares of Spirit Aerosystems Holdings (NYSE SPR) opened at $80.25 on Friday. Spirit Aerosystems Holdings has a 1-year low of $51.85 and a 1-year high of $84.75. The company has a current ratio of 1.56, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60. The company has a market cap of $9,330.86, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.43 and a beta of 1.16.

Spirit Aerosystems Holdings (NYSE:SPR) last posted its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $1.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.26. Spirit Aerosystems Holdings had a net margin of 4.98% and a return on equity of 31.14%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the business posted $1.16 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. equities analysts anticipate that Spirit Aerosystems Holdings will post 5.22 earnings per share for the current fiscal year.

Spirit Aerosystems Holdings announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 2nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the aerospace company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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In related news, SVP John A. Pilla sold 10,088 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $74.60, for a total transaction of $752,564.80. Following the sale, the senior vice president now directly owns 93,258 shares of the company’s stock, valued at approximately $6,957,046.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Duane F. Hawkins sold 5,000 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $83.04, for a total transaction of $415,200.00. Following the sale, the senior vice president now directly owns 39,374 shares in the company, valued at $3,269,616.96. The disclosure for this sale can be found here. Insiders have sold a total of 21,688 shares of company stock worth $1,672,599 over the last three months. 0.28% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in SPR. PNC Financial Services Group Inc. grew its position in Spirit Aerosystems Holdings by 20.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,248 shares of the aerospace company’s stock valued at $247,000 after purchasing an additional 710 shares during the last quarter. Janus Capital Management LLC grew its position in Spirit Aerosystems Holdings by 198.7% during the 1st quarter. Janus Capital Management LLC now owns 78,065 shares of the aerospace company’s stock valued at $4,522,000 after purchasing an additional 51,929 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Spirit Aerosystems Holdings by 9.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,840 shares of the aerospace company’s stock valued at $106,000 after acquiring an additional 160 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Spirit Aerosystems Holdings during the 2nd quarter valued at about $855,000. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Spirit Aerosystems Holdings by 6.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,539 shares of the aerospace company’s stock valued at $205,000 after acquiring an additional 222 shares during the last quarter. 99.59% of the stock is currently owned by institutional investors.

About Spirit Aerosystems Holdings

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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