Spirit AeroSystems (NYSE:SPR) Price Target Raised to $34.00

Spirit AeroSystems (NYSE:SPR) had its target price boosted by equities researchers at UBS Group from $33.00 to $34.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the aerospace company’s stock. UBS Group’s price objective would indicate a potential downside of 0.44% from the company’s current price.

A number of other research firms have also commented on SPR. Royal Bank of Canada lifted their target price on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Susquehanna lifted their price objective on Spirit AeroSystems from $33.00 to $40.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Benchmark reiterated a “hold” rating on shares of Spirit AeroSystems in a report on Thursday, June 20th. Stifel Nicolaus raised their target price on Spirit AeroSystems from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, March 20th. Finally, StockNews.com cut Spirit AeroSystems from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.89.

Spirit AeroSystems Stock Up 3.9 %

SPR stock opened at $34.15 on Monday. The business has a fifty day moving average of $31.29 and a 200-day moving average of $31.14. The company has a market cap of $3.98 billion, a P/E ratio of -3.93 and a beta of 1.84. Spirit AeroSystems has a twelve month low of $14.65 and a twelve month high of $36.34.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the firm posted ($1.69) EPS. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, equities research analysts anticipate that Spirit AeroSystems will post -2.94 earnings per share for the current fiscal year.

Institutional Trading of Spirit AeroSystems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank raised its stake in Spirit AeroSystems by 47.9% in the first quarter. Comerica Bank now owns 6,929 shares of the aerospace company’s stock valued at $250,000 after buying an additional 2,244 shares during the period. California State Teachers Retirement System boosted its stake in shares of Spirit AeroSystems by 3.2% during the 1st quarter. California State Teachers Retirement System now owns 115,912 shares of the aerospace company’s stock worth $4,181,000 after acquiring an additional 3,562 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Spirit AeroSystems during the 1st quarter worth approximately $267,000. Maple Rock Capital Partners Inc. raised its stake in Spirit AeroSystems by 7.2% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,423,000 shares of the aerospace company’s stock valued at $159,538,000 after acquiring an additional 296,000 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in Spirit AeroSystems by 7.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 47,226 shares of the aerospace company’s stock valued at $1,703,000 after acquiring an additional 3,454 shares during the period. Institutional investors and hedge funds own 93.59% of the company’s stock.

About Spirit AeroSystems

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of 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, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.