Spirit AeroSystems’ (NYSE:SPR) “Hold” Rating Reiterated at Cowen

Cowen reaffirmed their hold rating on shares of Spirit AeroSystems (NYSE:SPR) in a research report report published on Wednesday, May 1st, AnalystRatings.com reports. The brokerage currently has a $93.00 price objective on the aerospace company’s stock.

SPR has been the topic of several other reports. Zacks Investment Research lowered Spirit AeroSystems from a strong-buy rating to a hold rating in a research report on Wednesday, April 10th. Canaccord Genuity lowered Spirit AeroSystems from a buy rating to a hold rating and reduced their price target for the stock from $100.00 to $92.00 in a research report on Monday, April 8th. Barclays reiterated a buy rating on shares of Spirit AeroSystems in a report on Wednesday, March 13th. Vertical Research lowered Spirit AeroSystems from a buy rating to a hold rating and set a $103.00 target price on the stock. in a report on Wednesday, March 6th. Finally, Seaport Global Securities lowered Spirit AeroSystems from a buy rating to a neutral rating and set a $98.64 target price on the stock. in a report on Tuesday, March 5th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $101.47.

SPR stock traded down $0.24 during midday trading on Wednesday, reaching $82.86. 627,300 shares of the company’s stock traded hands, compared to its average volume of 1,050,287. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.50 and a beta of 1.38. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.95 and a quick ratio of 1.39. Spirit AeroSystems has a 1-year low of $64.48 and a 1-year high of $100.34.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Wednesday, May 1st. The aerospace company reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.01. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.93 billion. Spirit AeroSystems had a return on equity of 63.36% and a net margin of 8.78%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $1.10 EPS. On average, equities analysts expect that Spirit AeroSystems will post 7.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Monday, June 17th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Friday, June 14th. Spirit AeroSystems’s dividend payout ratio is 7.67%.

In other Spirit AeroSystems news, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $99.60, for a total value of $49,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.84% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPR. Great West Life Assurance Co. Can increased its position in shares of Spirit AeroSystems by 0.4% in the fourth quarter. Great West Life Assurance Co. Can now owns 29,127 shares of the aerospace company’s stock valued at $2,002,000 after acquiring an additional 129 shares during the last quarter. Creative Planning increased its position in Spirit AeroSystems by 4.6% during the fourth quarter. Creative Planning now owns 4,349 shares of the aerospace company’s stock worth $313,000 after buying an additional 190 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Spirit AeroSystems by 66.7% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 500 shares of the aerospace company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. BMT Investment Advisors increased its position in Spirit AeroSystems by 0.9% during the first quarter. BMT Investment Advisors now owns 23,527 shares of the aerospace company’s stock worth $2,153,000 after buying an additional 204 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in Spirit AeroSystems by 2.2% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 11,013 shares of the aerospace company’s stock worth $1,008,000 after buying an additional 237 shares during the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

About Spirit AeroSystems

Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and related spares, as well as maintenance, repairs, and overhaul (MRO) services.

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Analyst Recommendations for Spirit AeroSystems (NYSE:SPR)

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