Spirit AeroSystems (NYSE:SPR) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Several other brokerages have also weighed in on SPR. Zacks Investment Research lowered shares of Spirit AeroSystems from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. Wells Fargo & Co set a $105.00 target price on shares of Spirit AeroSystems and gave the stock a “buy” rating in a research note on Thursday, November 1st. Credit Suisse Group increased their target price on shares of Spirit AeroSystems from $102.00 to $103.00 and gave the stock an “outperform” rating in a research note on Thursday, November 1st. Bank of America raised shares of Spirit AeroSystems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $100.00 to $105.00 in a research note on Thursday, November 8th. Finally, Standpoint Research raised shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $104.42.
Shares of SPR stock opened at $83.40 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 1.67. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 1.43 and a beta of 1.19. Spirit AeroSystems has a 1-year low of $64.48 and a 1-year high of $105.20.
In related news, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $82.90, for a total value of $41,450.00. Following the completion of the transaction, the director now owns 1,493 shares in the company, valued at $123,769.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John A. Pilla sold 9,642 shares of Spirit AeroSystems stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $84.01, for a total transaction of $810,024.42. Following the completion of the transaction, the senior vice president now owns 21,866 shares of the company’s stock, valued at approximately $1,836,962.66. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.
A number of institutional investors have recently modified their holdings of SPR. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in Spirit AeroSystems in the third quarter worth approximately $70,756,000. OZ Management LP lifted its stake in Spirit AeroSystems by 33.1% in the third quarter. OZ Management LP now owns 2,711,165 shares of the aerospace company’s stock worth $248,533,000 after acquiring an additional 674,692 shares during the last quarter. Scopia Capital Management LP lifted its stake in Spirit AeroSystems by 6.1% in the third quarter. Scopia Capital Management LP now owns 5,361,113 shares of the aerospace company’s stock worth $491,453,000 after acquiring an additional 310,584 shares during the last quarter. FMR LLC lifted its stake in Spirit AeroSystems by 12.9% in the third quarter. FMR LLC now owns 2,321,501 shares of the aerospace company’s stock worth $212,811,000 after acquiring an additional 265,361 shares during the last quarter. Finally, Artemis Investment Management LLP lifted its stake in Spirit AeroSystems by 111.9% in the third quarter. Artemis Investment Management LLP now owns 429,621 shares of the aerospace company’s stock worth $39,386,000 after acquiring an additional 226,848 shares during the last quarter. Institutional investors own 96.77% of the company’s stock.
Spirit AeroSystems Company Profile
Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through 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 offers related spares and maintenance, repairs, and overhaul (MRO) services.
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