Spirit AeroSystems (NYSE:SPR) Price Target Raised to $34.00

Spirit AeroSystems (NYSE:SPR) had its price target lifted by UBS Group from $33.00 to $34.00 in a report released on Monday morning, Benzinga reports. UBS Group currently has a neutral rating on the aerospace company’s stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada lifted their price objective on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the company a sector perform rating in a research report on Wednesday, May 8th. Stifel Nicolaus raised their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the stock a hold rating in a research note on Wednesday, March 20th. Benchmark restated a hold rating on shares of Spirit AeroSystems in a research note on Thursday, June 20th. Susquehanna raised their target price on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the stock a positive rating in a research note on Friday, April 12th. Finally, The Goldman Sachs Group raised their target price on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $33.18.

Spirit AeroSystems Price Performance

Shares of SPR opened at $33.86 on Monday. The firm has a 50-day moving average of $31.40 and a 200-day moving average of $31.23. Spirit AeroSystems has a one year low of $14.65 and a one year high of $36.34. The company 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 data 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 the consensus estimate of $1.62 billion. During the same period in the previous year, the business posted ($1.69) earnings per share. Spirit AeroSystems’s revenue for the quarter was up 19.0% on a year-over-year basis. Analysts expect that Spirit AeroSystems will post -2.94 earnings per share for the current year.

Institutional Trading of Spirit AeroSystems

Hedge funds and other institutional investors have recently bought and sold shares of the business. MCF Advisors LLC raised its position in shares of Spirit AeroSystems by 0.8% in the 1st quarter. MCF Advisors LLC now owns 41,228 shares of the aerospace company’s stock valued at $1,487,000 after buying an additional 343 shares in the last quarter. Mystic Asset Management Inc. raised its position in shares of Spirit AeroSystems by 0.7% in the 1st quarter. Mystic Asset Management Inc. now owns 52,847 shares of the aerospace company’s stock valued at $1,906,000 after buying an additional 346 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of Spirit AeroSystems by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 46,362 shares of the aerospace company’s stock valued at $1,473,000 after buying an additional 460 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Spirit AeroSystems by 3.2% in the 4th quarter. HB Wealth Management LLC now owns 15,035 shares of the aerospace company’s stock valued at $478,000 after buying an additional 464 shares in the last quarter. Finally, CWM LLC raised its position in shares of Spirit AeroSystems by 7.7% in the 4th quarter. CWM LLC now owns 7,516 shares of the aerospace company’s stock valued at $239,000 after buying an additional 537 shares in the last quarter. 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.