Short Interest in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Declines By 11.4%

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,940,000 shares, a decline of 11.4% from the September 30th total of 2,190,000 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average trading volume of 876,200 shares, the days-to-cover ratio is presently 2.2 days.

NYSE SPR traded up $2.48 during trading hours on Friday, reaching $92.04. The company had a trading volume of 624,543 shares, compared to its average volume of 934,525. The stock has a 50-day moving average of $82.63 and a 200 day moving average of $80.79. Spirit AeroSystems has a 1-year low of $64.48 and a 1-year high of $100.34. The company has a current ratio of 2.06, a quick ratio of 1.51 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $9.27 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Thursday, October 31st. The aerospace company reported $1.38 EPS for the quarter, missing the Zacks’ consensus estimate of $1.67 by ($0.29). Spirit AeroSystems had a net margin of 8.27% and a return on equity of 49.21%. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company earned $1.70 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Spirit AeroSystems will post 6.48 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.52%. Spirit AeroSystems’s payout ratio is currently 7.67%.

In other news, Director Robert D. Johnson sold 500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.58, for a total transaction of $39,790.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.84% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SPR. Ellevest Inc. acquired a new position in Spirit AeroSystems in the second quarter valued at about $28,000. Capital Bank & Trust Co acquired a new position in Spirit AeroSystems in the second quarter valued at about $33,000. Parallel Advisors LLC lifted its position in Spirit AeroSystems by 1,685.2% in the second quarter. Parallel Advisors LLC now owns 482 shares of the aerospace company’s stock valued at $39,000 after buying an additional 455 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Spirit AeroSystems in the second quarter valued at about $40,000. Finally, Doyle Wealth Management purchased a new stake in Spirit AeroSystems during the second quarter worth about $46,000. 97.54% of the stock is currently owned by institutional investors.

SPR has been the topic of several recent research reports. Morgan Stanley boosted their price target on shares of Spirit AeroSystems from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. ValuEngine raised shares of Spirit AeroSystems from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Robert W. Baird cut shares of Spirit AeroSystems from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $89.00 to $80.00 in a research report on Tuesday, October 22nd. Barclays reissued a “buy” rating and set a $95.00 price target on shares of Spirit AeroSystems in a research report on Sunday, August 4th. Finally, UBS Group cut shares of Spirit AeroSystems from a “buy” rating to a “neutral” rating and lowered their price target for the company from $92.00 to $88.00 in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $91.43.

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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