Spirit AeroSystems Target of Unusually High Options Trading (SPR)

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Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was the target of unusually large options trading on Wednesday. Traders purchased 2,057 call options on the stock. This represents an increase of 1,787% compared to the typical daily volume of 109 call options.

SPR has been the subject of a number of recent research reports. Zacks Investment Research cut Spirit AeroSystems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. UBS Group initiated coverage on Spirit AeroSystems in a research note on Wednesday, August 15th. They set a “buy” rating and a $110.00 price objective for the company. Morgan Stanley lowered their price objective on Spirit AeroSystems from $110.00 to $107.00 and set an “overweight” rating for the company in a research note on Thursday, July 12th. Cowen reiterated a “buy” rating and set a $100.00 price objective on shares of Spirit AeroSystems in a research note on Wednesday, August 1st. Finally, ValuEngine upgraded Spirit AeroSystems from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $101.21.

Spirit AeroSystems stock opened at $85.46 on Thursday. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.25 and a beta of 1.28. Spirit AeroSystems has a 12 month low of $73.76 and a 12 month high of $105.20. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.52 and a quick ratio of 1.04.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Wednesday, August 1st. The aerospace company reported $1.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.12. Spirit AeroSystems had a return on equity of 39.74% and a net margin of 7.68%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. Spirit AeroSystems’s revenue was up .6% compared to the same quarter last year. equities research analysts forecast that Spirit AeroSystems will post 6.31 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 9th. Investors of record on Monday, September 17th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, September 14th. Spirit AeroSystems’s payout ratio is currently 8.97%.

In other news, Director Richard A. Gephardt sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $89.33, for a total value of $714,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $85.37, for a total value of $42,685.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,920 shares of company stock worth $2,359,436. 0.87% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Spirit AeroSystems by 1.9% in the first quarter. BlackRock Inc. now owns 7,762,915 shares of the aerospace company’s stock worth $649,752,000 after acquiring an additional 146,172 shares during the period. LSV Asset Management grew its holdings in shares of Spirit AeroSystems by 2.8% in the second quarter. LSV Asset Management now owns 5,178,473 shares of the aerospace company’s stock worth $444,882,000 after acquiring an additional 138,708 shares during the period. Scopia Capital Management LP grew its holdings in Spirit AeroSystems by 4.9% during the second quarter. Scopia Capital Management LP now owns 5,050,529 shares of the aerospace company’s stock valued at $433,891,000 after purchasing an additional 236,079 shares during the period. Wells Fargo & Company MN grew its holdings in Spirit AeroSystems by 1.7% during the first quarter. Wells Fargo & Company MN now owns 1,992,466 shares of the aerospace company’s stock valued at $166,769,000 after purchasing an additional 33,959 shares during the period. Finally, OppenheimerFunds Inc. grew its holdings in Spirit AeroSystems by 35.9% during the second quarter. OppenheimerFunds Inc. now owns 1,640,092 shares of the aerospace company’s stock valued at $140,900,000 after purchasing an additional 433,677 shares during the period.

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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