Spirit AeroSystems (NYSE:SPR) Price Target Cut to $58.00 by Analysts at Sanford C. Bernstein

Spirit AeroSystems (NYSE:SPR – Get Rating) had its price target cut by stock analysts at Sanford C. Bernstein from $66.00 to $58.00 in a note issued to investors on Thursday, The Fly reports. Sanford C. Bernstein’s price target would indicate a potential upside of 47.55% from the stock’s previous close.

Several other research firms have also commented on SPR. Susquehanna upped their price target on shares of Spirit AeroSystems from $51.00 to $55.00 in a research report on Thursday, February 3rd. Royal Bank of Canada upped their price target on shares of Spirit AeroSystems from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, March 3rd. StockNews.com initiated coverage on Spirit AeroSystems in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Barclays upped their price target on Spirit AeroSystems from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, February 7th. Finally, Morgan Stanley upped their price target on Spirit AeroSystems from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, February 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Spirit AeroSystems presently has an average rating of “Buy” and an average price target of $58.58.

Shares of NYSE:SPR opened at $39.31 on Thursday. Spirit AeroSystems has a fifty-two week low of $35.22 and a fifty-two week high of $53.31. The business has a 50-day simple moving average of $45.20 and a two-hundred day simple moving average of $44.70. The company has a debt-to-equity ratio of 8.34, a quick ratio of 1.29 and a current ratio of 2.03. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -7.57 and a beta of 1.74.

Spirit AeroSystems (NYSE:SPR – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The aerospace company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.66. Spirit AeroSystems had a negative net margin of 13.68% and a negative return on equity of 68.59%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm earned ($1.22) EPS. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. As a group, research analysts predict that Spirit AeroSystems will post -0.74 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. increased its stake in Spirit AeroSystems by 61.5% in the third quarter. Geneos Wealth Management Inc. now owns 630 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in Spirit AeroSystems by 40.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 700 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. increased its stake in Spirit AeroSystems by 175.6% in the fourth quarter. Whittier Trust Co. now owns 733 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 467 shares during the period. Huntington National Bank grew its position in shares of Spirit AeroSystems by 166.1% during the 4th quarter. Huntington National Bank now owns 801 shares of the aerospace company’s stock worth $35,000 after buying an additional 500 shares in the last quarter. Finally, Selective Wealth Management Inc. bought a new position in shares of Spirit AeroSystems during the 1st quarter worth $50,000. Institutional investors and hedge funds own 79.33% of the company’s stock.

Spirit AeroSystems Company Profile (Get Rating)

Spirit AeroSystems Holdings, Inc designs, engineers, manufactures, and markets 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, struts/pylons, nacelles, and related engine structural components; and wings and wing components, including flight control surfaces, as well as other structural parts.

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