Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating) shares reached a new 52-week low on Thursday . The company traded as low as $22.22 and last traded at $22.39, with a volume of 3205 shares changing hands. The stock had previously closed at $23.83.
Analysts Set New Price Targets
A number of analysts recently weighed in on SPR shares. Susquehanna decreased their price objective on Spirit AeroSystems from $50.00 to $41.00 in a report on Thursday, August 4th. Morgan Stanley lowered Spirit AeroSystems from an "overweight" rating to an "underweight" rating and cut their price objective for the stock from $51.00 to $35.00 in a research note on Thursday, September 8th. Truist Financial dropped their price target on shares of Spirit AeroSystems from $70.00 to $60.00 in a research report on Tuesday, July 19th. Robert W. Baird lowered their target price on shares of Spirit AeroSystems from $53.00 to $43.00 in a research note on Thursday, August 4th. Finally, Cowen cut their price target on shares of Spirit AeroSystems from $70.00 to $55.00 and set an "outperform" rating on the stock in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.80.
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Spirit AeroSystems Price Performance
The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 15.16. The company's 50-day moving average is $30.35 and its two-hundred day moving average is $34.66.
Spirit AeroSystems (NYSE:SPR – Get Rating) last issued its earnings results on Wednesday, August 3rd. The aerospace company reported ($1.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.98). The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. Spirit AeroSystems had a negative return on equity of 88.69% and a negative net
margin of 9.12%. Spirit AeroSystems's revenue for the quarter was up 25.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.31) EPS. Analysts predict that Spirit AeroSystems Holdings, Inc. will post -1.92 earnings per share for the current year.
Spirit AeroSystems Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be paid a $0.01 dividend. The ex-dividend date is Friday, September 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.18%. Spirit AeroSystems's dividend payout ratio is presently -1.02%.
Hedge Funds Weigh In On Spirit AeroSystems
A number of large investors have recently modified their holdings of SPR. Selective Wealth Management Inc. bought a new stake in Spirit AeroSystems in the first quarter valued at approximately $50,000. Rockefeller Capital Management L.P. increased its position in shares of Spirit AeroSystems by 242.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,197 shares of the aerospace company's stock valued at $51,000 after acquiring an additional 847 shares during the period. Manchester Capital Management LLC bought a new position in shares of Spirit AeroSystems during the first quarter valued at about $91,000. Captrust Financial Advisors increased its holdings in Spirit AeroSystems by 57.7% during the 2nd quarter. Captrust Financial Advisors now owns 2,169 shares of the aerospace company's stock valued at $64,000 after purchasing an additional 794 shares during the period. Finally, MetLife Investment Management LLC purchased a new stake in Spirit AeroSystems in the 1st quarter worth approximately $169,000. 83.73% of the stock is owned by hedge funds and other institutional investors.
About Spirit AeroSystems
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Spirit AeroSystems Holdings, Inc designs, engineers, manufactures, and markets commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, struts/pylons, nacelles, and related engine structural components; and wings and wing components, including flight control surfaces, as well as other structural parts.
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