SunTrust Banks Reaffirms Hold Rating for Spirit AeroSystems (SPR)

SunTrust Banks reaffirmed their hold rating on shares of Spirit AeroSystems (NYSE:SPR) in a research note issued to investors on Tuesday morning. SunTrust Banks currently has a $93.00 price objective on the aerospace company’s stock. SunTrust Banks also issued estimates for Spirit AeroSystems’ FY2018 earnings at $6.02 EPS and FY2019 earnings at $6.17 EPS.

Other analysts also recently issued reports about the company. ValuEngine downgraded Spirit AeroSystems from a strong-buy rating to a buy rating in a research report on Monday, October 2nd. Jefferies Group lifted their price target on Spirit AeroSystems from $84.00 to $90.00 and gave the company a buy rating in a research report on Thursday, September 28th. Citigroup reiterated a buy rating and issued a $85.00 price target on shares of Spirit AeroSystems in a research report on Tuesday, September 26th. Canaccord Genuity reiterated a buy rating and issued a $86.00 price target (up from $80.00) on shares of Spirit AeroSystems in a research report on Thursday, September 28th. Finally, Zacks Investment Research upgraded Spirit AeroSystems from a hold rating to a buy rating and set a $89.00 price target for the company in a research report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. Spirit AeroSystems currently has a consensus rating of Buy and an average price target of $84.11.

Spirit AeroSystems (NYSE SPR) traded up $2.40 during trading hours on Tuesday, reaching $96.55. The company’s stock had a trading volume of 812,061 shares, compared to its average volume of 871,755. 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 has a twelve month low of $51.85 and a twelve month high of $96.70. The stock has a market capitalization of $10,890.00, a P/E ratio of 34.00, a P/E/G ratio of 1.51 and a beta of 1.16.

Spirit AeroSystems (NYSE:SPR) last released its 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. Spirit AeroSystems had a return on equity of 31.14% and a net margin of 4.98%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the business posted $1.16 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. analysts forecast that Spirit AeroSystems will post 5.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 8th. Investors of record on Monday, December 18th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, December 15th. Spirit AeroSystems’s dividend payout ratio is 14.08%.

In related news, SVP Duane F. Hawkins sold 5,000 shares of Spirit AeroSystems stock in a transaction on Monday, November 6th. The stock was sold at an average price of $83.04, for a total transaction of $415,200.00. Following the completion of the sale, the senior vice president now owns 39,374 shares of the company’s stock, valued at $3,269,616.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction on Friday, December 1st. The shares were sold at an average price of $84.13, for a total value of $42,065.00. Following the sale, 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. 0.28% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of SPR. UBS Asset Management Americas Inc. boosted its stake in Spirit AeroSystems by 1,425.0% during the second quarter. UBS Asset Management Americas Inc. now owns 2,255,618 shares of the aerospace company’s stock valued at $130,691,000 after buying an additional 2,107,710 shares during the period. Boston Partners boosted its stake in Spirit AeroSystems by 74.5% during the third quarter. Boston Partners now owns 4,230,462 shares of the aerospace company’s stock valued at $328,791,000 after buying an additional 1,806,228 shares during the period. Wedge Capital Management L L P NC bought a new stake in Spirit AeroSystems during the third quarter valued at $52,067,000. Koch Industries Inc. bought a new stake in Spirit AeroSystems during the second quarter valued at $524,000. Finally, JPMorgan Chase & Co. boosted its stake in Spirit AeroSystems by 79.9% during the third quarter. JPMorgan Chase & Co. now owns 745,016 shares of the aerospace company’s stock valued at $57,813,000 after buying an additional 330,903 shares during the period. 96.12% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Spirit AeroSystems (NYSE:SPR)

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