Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,940,000 shares, a decrease of 11.4% from the September 30th total of 2,190,000 shares. Based on an average daily trading volume, of 876,200 shares, the days-to-cover ratio is currently 2.2 days. Approximately 1.9% of the shares of the stock are short sold.
Shares of SPR traded up $2.48 during trading hours on Friday, hitting $92.04. 624,543 shares of the stock were exchanged, compared to its average volume of 937,841. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.51 and a current ratio of 2.06. Spirit AeroSystems has a 12-month low of $64.48 and a 12-month high of $100.34. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. The stock’s 50-day moving average price is $82.63 and its two-hundred day moving average price is $80.79.
Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Thursday, October 31st. The aerospace company reported $1.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($0.29). Spirit AeroSystems had a return on equity of 49.21% and a net margin of 8.27%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the firm posted $1.70 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts expect that Spirit AeroSystems will post 6.48 earnings per share 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 issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, December 13th. Spirit AeroSystems’s payout ratio is currently 7.67%.
In other news, Director Robert D. Johnson sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.58, for a total transaction of $39,790.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.84% of the company’s stock.
Large investors have recently modified their holdings of the business. Ellevest Inc. purchased a new stake in Spirit AeroSystems in the 2nd quarter valued at $28,000. Capital Bank & Trust Co purchased a new stake in Spirit AeroSystems in the 2nd quarter valued at $33,000. Parallel Advisors LLC grew its holdings in Spirit AeroSystems by 1,685.2% in the 2nd quarter. Parallel Advisors LLC now owns 482 shares of the aerospace company’s stock valued at $39,000 after buying an additional 455 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Spirit AeroSystems in the 2nd quarter valued at $40,000. Finally, Doyle Wealth Management purchased a new stake in Spirit AeroSystems in the 2nd quarter valued at $46,000. Institutional investors own 97.54% of the company’s stock.
Several brokerages have recently weighed in on SPR. ValuEngine raised Spirit AeroSystems from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Morgan Stanley upped their target price on Spirit AeroSystems from $100.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Barclays reaffirmed a “buy” rating and set a $95.00 target price on shares of Spirit AeroSystems in a research note on Sunday, August 4th. UBS Group cut Spirit AeroSystems from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $88.00 in a research report on Monday, October 21st. Finally, Cowen reiterated a “hold” rating on shares of Spirit AeroSystems in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target 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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