Spirit AeroSystems (NYSE:SPR) PT Raised to $34.00

Spirit AeroSystems (NYSE:SPR) had its price objective hoisted by equities researchers at UBS Group from $33.00 to $34.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the aerospace company’s stock. UBS Group’s price target would indicate a potential upside of 0.35% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada increased their target price on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. StockNews.com lowered shares of Spirit AeroSystems from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. 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 report on Tuesday, April 16th. Susquehanna increased their target price on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the company a “positive” rating in a report on Friday, April 12th. Finally, Benchmark reaffirmed a “hold” rating on shares of Spirit AeroSystems in a report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.89.

Spirit AeroSystems Price Performance

Shares of NYSE:SPR opened at $33.88 on Monday. The company’s fifty day moving average price is $31.35 and its 200-day moving average price is $31.21. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -3.90 and a beta of 1.84. Spirit AeroSystems has a one year low of $14.65 and a one year high of $36.34.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) EPS for the quarter, missing analysts’ consensus estimates 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. Spirit AeroSystems’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the firm earned ($1.69) earnings per share. As a group, equities research analysts expect that Spirit AeroSystems will post -2.94 EPS for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Several institutional investors and hedge funds have recently modified their holdings of SPR. Steadfast Capital Management LP lifted its position in shares of Spirit AeroSystems by 1,274.6% in the 1st quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after purchasing an additional 4,371,874 shares during the period. Norges Bank purchased a new position in Spirit AeroSystems during the 4th quarter valued at about $62,432,000. Balyasny Asset Management L.P. lifted its position in Spirit AeroSystems by 495.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,737,893 shares of the aerospace company’s stock valued at $55,230,000 after acquiring an additional 1,445,994 shares during the period. Vanguard Group Inc. lifted its position in Spirit AeroSystems by 8.8% during the 4th quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock valued at $344,649,000 after acquiring an additional 876,673 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in Spirit AeroSystems by 9,458.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 800,152 shares of the aerospace company’s stock valued at $12,914,000 after acquiring an additional 791,781 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.