Spirit AeroSystems (NYSE:SPR) Rating Reiterated by Barclays

Spirit AeroSystems (NYSE:SPR)‘s stock had its “equal weight” rating reissued by investment analysts at Barclays in a report issued on Wednesday, Benzinga reports. They currently have a $37.00 target price on the aerospace company’s stock, down from their previous target price of $40.00. Barclays‘s target price suggests a potential upside of 9.40% from the company’s current price.

A number of other brokerages have also weighed in on SPR. Susquehanna boosted their price objective 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. Citigroup reissued a “neutral” rating and issued a $37.25 price objective (down from $39.00) on shares of Spirit AeroSystems in a report on Wednesday. Stifel Nicolaus raised their price objective on Spirit AeroSystems from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. Royal Bank of Canada increased their price target on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.18.

Spirit AeroSystems Price Performance

Spirit AeroSystems stock opened at $33.82 on Wednesday. Spirit AeroSystems has a 1-year low of $14.65 and a 1-year high of $36.34. The business has a fifty day moving average price of $31.44 and a 200-day moving average price of $31.25. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of -3.89 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.62 billion. The business’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the firm earned ($1.69) EPS. On average, equities research analysts anticipate that Spirit AeroSystems will post -2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

A number of large investors have recently modified their holdings of SPR. Seven Eight Capital LP purchased a new stake in Spirit AeroSystems during the 4th quarter valued at about $5,694,000. Norges Bank acquired a new position in shares of Spirit AeroSystems during the 4th quarter worth approximately $62,432,000. Vanguard Group Inc. grew its position in shares of Spirit AeroSystems by 0.5% in the third quarter. Vanguard Group Inc. now owns 9,968,180 shares of the aerospace company’s stock valued at $160,886,000 after purchasing an additional 51,387 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Spirit AeroSystems by 33.9% in the fourth quarter. Blue Trust Inc. now owns 6,163 shares of the aerospace company’s stock valued at $196,000 after purchasing an additional 1,562 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in Spirit AeroSystems during the third quarter worth approximately $6,748,000. Hedge funds and other institutional investors 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.