Spirit AeroSystems (NYSE:SPR) Receives “Neutral” Rating from Citigroup

Citigroup reaffirmed their neutral rating on shares of Spirit AeroSystems (NYSE:SPR) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $37.25 price objective on the aerospace company’s stock, down from their previous price objective of $39.00.

SPR has been the topic of a number of other reports. StockNews.com downgraded Spirit AeroSystems from a hold rating to a sell rating in a report on Thursday, May 9th. Susquehanna lifted their target price on Spirit AeroSystems from $33.00 to $40.00 and gave the company a positive rating in a research note on Friday, April 12th. Benchmark reissued a hold rating on shares of Spirit AeroSystems in a research report on Thursday, June 20th. Royal Bank of Canada lifted their price objective on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the stock a sector perform rating in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus increased their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the company a hold rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $33.18.

Spirit AeroSystems Price Performance

NYSE:SPR opened at $33.86 on Wednesday. Spirit AeroSystems has a 1-year low of $14.65 and a 1-year high of $36.34. The company has a 50-day moving average of $31.40 and a 200 day moving average of $31.23. The firm has a market cap of $3.95 billion, a PE ratio of -3.90 and a beta of 1.84.

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

Hedge Funds Weigh In On Spirit AeroSystems

Institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Spirit AeroSystems during the first quarter valued at $25,000. Principal Securities Inc. acquired a new position in shares of Spirit AeroSystems in the 4th quarter valued at about $26,000. Riverview Trust Co purchased a new stake in shares of Spirit AeroSystems in the first quarter worth about $35,000. Allspring Global Investments Holdings LLC grew its holdings in Spirit AeroSystems by 148.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 724 shares during the period. Finally, Manchester Capital Management LLC raised its position in Spirit AeroSystems by 586.2% during the first quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock valued at $70,000 after acquiring an additional 1,659 shares in the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

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.