Spirit AeroSystems’ (SPR) Hold Rating Reiterated at Cowen

Spirit AeroSystems (NYSE:SPR)‘s stock had its “hold” rating restated by stock analysts at Cowen in a report released on Tuesday, AnalystRatings.com reports. They currently have a $93.00 price target on the aerospace company’s stock. Cowen’s price target indicates a potential upside of 7.63% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. Canaccord Genuity downgraded shares of Spirit AeroSystems from a “buy” rating to a “hold” rating and lowered their target price for the stock from $100.00 to $92.00 in a report on Monday, April 8th. Barclays reissued a “buy” rating on shares of Spirit AeroSystems in a report on Wednesday, March 13th. Vertical Research cut shares of Spirit AeroSystems from a “buy” rating to a “hold” rating and set a $103.00 price target on the stock. in a research report on Wednesday, March 6th. Finally, Seaport Global Securities cut shares of Spirit AeroSystems from a “buy” rating to a “neutral” rating and set a $98.64 price target on the stock. in a research report on Tuesday, March 5th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Spirit AeroSystems has an average rating of “Buy” and an average price target of $101.47.

SPR stock opened at $86.41 on Tuesday. Spirit AeroSystems has a one year low of $64.48 and a one year high of $100.34. The company has a current ratio of 1.80, a quick ratio of 1.16 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $9.23 billion, a PE ratio of 13.80, a P/E/G ratio of 1.47 and a beta of 1.44.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Friday, February 1st. The aerospace company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.78 by $0.07. Spirit AeroSystems had a net margin of 8.54% and a return on equity of 55.88%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts predict that Spirit AeroSystems will post 7.49 EPS for the current year.

In related news, Director Paul E. Fulchino sold 15,000 shares of the business’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $92.49, for a total value of $1,387,350.00. Following the sale, the director now owns 47,234 shares in the company, valued at $4,368,672.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul E. Fulchino sold 20,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $95.33, for a total transaction of $1,906,600.00. Following the completion of the sale, the director now owns 12,234 shares in the company, valued at approximately $1,166,267.22. The disclosure for this sale can be found here. Insiders sold 53,700 shares of company stock worth $5,032,198 in the last 90 days. 0.84% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Truvestments Capital LLC bought a new position in Spirit AeroSystems during the first quarter valued at $42,000. 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 valued at $36,000 after acquiring an additional 200 shares during the last quarter. Doyle Wealth Management bought a new position in Spirit AeroSystems during the fourth quarter valued at $40,000. Bessemer Group Inc. increased its position in Spirit AeroSystems by 96.7% during the fourth quarter. Bessemer Group Inc. now owns 836 shares of the aerospace company’s stock valued at $60,000 after acquiring an additional 411 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in Spirit AeroSystems during the fourth quarter valued at $80,000. Institutional investors own 95.60% of the company’s stock.

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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