Spirit AeroSystems (NYSE:SPR) Stock Price Up 17.3%

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Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s share price rose 17.3% during mid-day trading on Monday . The company traded as high as $26.28 and last traded at $26.18, approximately 8,502,357 shares were traded during mid-day trading. An increase of 115% from the average daily volume of 3,956,632 shares. The stock had previously closed at $22.32.

SPR has been the topic of a number of recent research reports. ValuEngine upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research report on Monday, June 8th. Bank of America downgraded shares of Spirit AeroSystems from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $77.00 to $25.00 in a research report on Monday, April 13th. SunTrust Banks reduced their price target on shares of Spirit AeroSystems from $16.00 to $14.00 and set a “sell” rating on the stock in a research report on Thursday, May 7th. Cowen reiterated a “hold” rating and issued a $25.00 price objective on shares of Spirit AeroSystems in a research report on Wednesday, May 6th. Finally, Citigroup cut their price objective on shares of Spirit AeroSystems from $90.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, March 20th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $47.82.

The company has a market capitalization of $2.76 billion, a P/E ratio of 13.43 and a beta of 1.48. The business’s 50-day simple moving average is $24.53 and its 200 day simple moving average is $43.42. The company has a current ratio of 2.81, a quick ratio of 1.99 and a debt-to-equity ratio of 2.07.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Wednesday, May 6th. The aerospace company reported ($0.79) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.63. Spirit AeroSystems had a net margin of 2.92% and a return on equity of 20.46%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the firm earned $1.68 EPS. Spirit AeroSystems’s revenue was down 44.1% on a year-over-year basis. As a group, sell-side analysts predict that Spirit AeroSystems Holdings, Inc. will post -2.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, June 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. Spirit AeroSystems’s dividend payout ratio (DPR) is 0.72%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Ancora Advisors LLC acquired a new position in shares of Spirit AeroSystems in the 4th quarter worth approximately $25,000. Estabrook Capital Management acquired a new position in shares of Spirit AeroSystems in the 4th quarter worth approximately $26,000. Pacitti Group Inc. acquired a new position in shares of Spirit AeroSystems in the 4th quarter worth approximately $26,000. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Spirit AeroSystems in the 4th quarter worth approximately $36,000. Finally, Pinz Capital Management LP grew its stake in shares of Spirit AeroSystems by 57.7% in the 1st quarter. Pinz Capital Management LP now owns 2,050 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 750 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

About Spirit AeroSystems (NYSE:SPR)

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.

Further Reading: What are Institutional Investors?

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