Spirit AeroSystems’ (SPR) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Spirit AeroSystems (NYSE:SPR)‘s stock had its “sector perform” rating reissued by Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $37.25 price objective on the aerospace company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 7.40% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. TD Cowen raised Spirit AeroSystems to a “strong-buy” rating in a report on Thursday, December 19th. StockNews.com assumed coverage on Spirit AeroSystems in a report on Tuesday, February 4th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Spirit AeroSystems has a consensus rating of “Hold” and an average price target of $36.00.

Spirit AeroSystems Trading Up 1.1 %

Shares of Spirit AeroSystems stock traded up $0.38 during trading hours on Tuesday, reaching $34.69. 179,820 shares of the company’s stock were exchanged, compared to its average volume of 1,112,864. The company has a 50 day moving average of $33.66 and a two-hundred day moving average of $33.26. Spirit AeroSystems has a fifty-two week low of $28.30 and a fifty-two week high of $37.08. The stock has a market cap of $4.06 billion, a P/E ratio of -2.79 and a beta of 1.80.

Institutional Trading of Spirit AeroSystems

Several hedge funds and other institutional investors have recently modified their holdings of SPR. Alpine Associates Management Inc. boosted its position in Spirit AeroSystems by 30.1% during the fourth quarter. Alpine Associates Management Inc. now owns 3,092,584 shares of the aerospace company’s stock worth $105,395,000 after purchasing an additional 714,984 shares during the period. National Bank of Canada FI boosted its holdings in shares of Spirit AeroSystems by 3,996.6% during the 3rd quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock worth $81,275,000 after buying an additional 2,438,974 shares during the period. Bank of Montreal Can raised its holdings in Spirit AeroSystems by 1,744.2% in the 3rd quarter. Bank of Montreal Can now owns 802,091 shares of the aerospace company’s stock valued at $26,557,000 after acquiring an additional 758,599 shares during the period. ING Groep NV acquired a new stake in Spirit AeroSystems during the third quarter worth approximately $16,817,000. Finally, Harvest Management LLC boosted its holdings in shares of Spirit AeroSystems by 84.8% during the third quarter. Harvest Management LLC now owns 483,000 shares of the aerospace company’s stock worth $15,702,000 after acquiring an additional 221,600 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.