Spirit AeroSystems Holdings (SPR) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jun 30, 2016.
Many Wall Street Analysts have commented on Spirit AeroSystems Holdings. Spirit AeroSystems Holdings was Initiated by Morgan Stanley to “Overweight” on Jun 23, 2016. Spirit AeroSystems Holdings was Upgraded by Buckingham Research to ” Neutral” on Jun 9, 2016. Spirit AeroSystems Holdings was Downgraded by BofA/Merrill to ” Neutral” on Apr 20, 2016.
On the company’s financial health, Spirit AeroSystems Holdings reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.22 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $1.07. The company had revenue of $1682.00 million for the quarter, compared to analysts expectations of $1687.64 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.
Spirit AeroSystems Holdings closed down -0.09 points or -0.21% at $42.53 with 13,56,502 shares getting traded on Wednesday. Post opening the session at $43.12, the shares hit an intraday low of $42.47 and an intraday high of $43.19 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Jun 29, 2016, Duane F Hawkins (SVP/GM) sold 9,923 shares at $42.09 per share price. According to the SEC, on Jun 7, 2016, Samantha J. Marnick (SVP/CAO) sold 22,715 shares at $46.51 per share price. On Jun 3, 2016, Robert D Johnson (director) sold 500 shares at $46.46 per share price, according to the Form-4 filing with the securities and exchange commission.
Spirit AeroSystems Holdings Inc. is an independent non-original equipment manufacturer (OEM) aircraft parts designer and manufacturer of commercial aero structures. The Company operates in three segments: Fuselage Systems Propulsion Systems and Wing Systems. Fuselage Systems segment develops produces and markets forward mid and rear fuselage sections and systems primarily to aircraft OEMs as well as related spares and maintenance repair and overhaul support and services (MRO). The Propulsion Systems segment develops produces and markets struts/pylons nacelles (including thrust reversers) and related engine structural components primarily to aircraft or engine OEMs as well as related spares and MRO services. The Wing Systems segment develops produces and markets forward wings and wing components (including flight control surfaces) and other miscellaneous structural parts primarily to aircraft OEMs as well as related spares and MRO services.