Spirit AeroSystems (NYSE:SPR) PT Raised to $35.00

Spirit AeroSystems (NYSE:SPR) had its target price raised by equities research analysts at Royal Bank of Canada from $33.00 to $35.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the aerospace company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 12.29% from the company’s current price.

A number of other brokerages have also issued reports on SPR. TD Cowen upgraded Spirit AeroSystems from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $35.00 in a research report on Thursday, February 8th. The Goldman Sachs Group increased their target price on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Susquehanna boosted their price target on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the stock 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. Finally, Truist Financial boosted their target price on Spirit AeroSystems from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Spirit AeroSystems currently has a consensus rating of “Hold” and an average target price of $32.83.

Spirit AeroSystems Stock Performance

Shares of NYSE SPR traded down $1.74 during midday trading on Wednesday, hitting $31.17. The company’s stock had a trading volume of 2,309,483 shares, compared to its average volume of 3,807,073. Spirit AeroSystems has a 1-year low of $14.65 and a 1-year high of $36.34. The firm’s fifty day moving average price is $33.50 and its 200-day moving average price is $29.64. The firm has a market cap of $3.62 billion, a P/E ratio of -5.16, a P/E/G ratio of 25.80 and a beta of 1.79.

Spirit AeroSystems (NYSE:SPR) last released 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 company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the company earned ($1.69) EPS. Spirit AeroSystems’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, research analysts predict that Spirit AeroSystems will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.