Spirit AeroSystems (NYSE:SPR) Given New $33.00 Price Target at UBS Group

Spirit AeroSystems (NYSE:SPR) had its price objective decreased by investment analysts at UBS Group from $35.00 to $33.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the aerospace company’s stock. UBS Group’s target price would suggest a potential upside of 4.43% from the stock’s current price.

Several other equities analysts have also commented on SPR. Susquehanna raised their price objective on Spirit AeroSystems from $33.00 to $40.00 and gave the company a “positive” rating in a research report on Friday, April 12th. StockNews.com raised shares of Spirit AeroSystems from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. KeyCorp began coverage on Spirit AeroSystems in a research report on Wednesday, January 17th. They issued a “sector weight” rating on the stock. Stifel Nicolaus lifted their price objective on Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, March 20th. Finally, Morgan Stanley cut their target price on Spirit AeroSystems from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Spirit AeroSystems currently has an average rating of “Hold” and an average price target of $32.28.

Spirit AeroSystems Stock Performance

NYSE:SPR traded down $1.31 during midday trading on Wednesday, reaching $31.60. 527,027 shares of the stock traded hands, compared to its average volume of 3,787,468. The stock has a market capitalization of $3.67 billion, a P/E ratio of -5.26, a PEG ratio of 25.80 and a beta of 1.79. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $36.34. The company has a fifty day moving average of $33.50 and a 200 day moving average of $29.64.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data 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 analyst estimates of $1.62 billion. During the same quarter in the prior year, the firm posted ($1.69) earnings per share. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, analysts predict that Spirit AeroSystems will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. raised its position in shares of Spirit AeroSystems by 12.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,757 shares of the aerospace company’s stock valued at $206,000 after buying an additional 1,405 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Spirit AeroSystems by 11.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,516 shares of the aerospace company’s stock worth $347,000 after purchasing an additional 2,178 shares during the period. Inspire Investing LLC raised its holdings in Spirit AeroSystems by 77.4% during the 3rd quarter. Inspire Investing LLC now owns 19,084 shares of the aerospace company’s stock valued at $308,000 after buying an additional 8,327 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Spirit AeroSystems in the third quarter worth $108,000. Finally, Fifth Third Bancorp boosted its stake in Spirit AeroSystems by 19.5% during the third quarter. Fifth Third Bancorp now owns 114,692 shares of the aerospace company’s stock worth $1,851,000 after buying an additional 18,739 shares during the period. 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.