Spirit AeroSystems (NYSE:SPR) Upgraded by Wolfe Research to Outperform

Wolfe Research upgraded shares of Spirit AeroSystems (NYSE:SPR) from a peer perform rating to an outperform rating in a research report report published on Thursday morning, MarketBeat Ratings reports. They currently have $34.00 target price on the aerospace company’s stock.

A number of other equities research analysts have also issued reports on the stock. StockNews.com initiated coverage on shares of Spirit AeroSystems in a report on Thursday, October 5th. They issued a sell rating for the company. JPMorgan Chase & Co. lifted their target price on Spirit AeroSystems from $34.00 to $38.00 and gave the company an overweight rating in a research report on Thursday, November 2nd. Melius lowered shares of Spirit AeroSystems from an overweight rating to a neutral rating and set a $23.00 price objective on the stock. in a report on Tuesday, September 5th. UBS Group initiated coverage on shares of Spirit AeroSystems in a research note on Tuesday, October 10th. They set a neutral rating and a $17.00 target price for the company. Finally, Morgan Stanley decreased their price objective on shares of Spirit AeroSystems from $27.00 to $22.00 and set an underweight rating on the stock in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Spirit AeroSystems presently has an average rating of Hold and an average price target of $28.07.

Spirit AeroSystems Trading Up 1.3 %

SPR opened at $24.25 on Thursday. Spirit AeroSystems has a 12-month low of $14.65 and a 12-month high of $38.55. The firm has a 50 day moving average of $19.13 and a two-hundred day moving average of $24.02. The firm has a market capitalization of $2.55 billion, a PE ratio of -2.72 and a beta of 1.69.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results on Wednesday, November 1st. The aerospace company reported ($1.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.56) by $0.14. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business earned ($0.15) EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts predict that Spirit AeroSystems will post -3.15 EPS for the current fiscal year.

Institutional Trading of Spirit AeroSystems

A number of institutional investors have recently bought and sold shares of SPR. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Spirit AeroSystems during the 2nd quarter worth about $29,000. Money Concepts Capital Corp lifted its position in shares of Spirit AeroSystems by 1,076.9% during the 4th quarter. Money Concepts Capital Corp now owns 1,224 shares of the aerospace company’s stock worth $36,000 after buying an additional 1,120 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Spirit AeroSystems by 240.2% in the 1st quarter. Bessemer Group Inc. now owns 1,446 shares of the aerospace company’s stock valued at $50,000 after buying an additional 1,021 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in Spirit AeroSystems in the first quarter valued at $61,000. Finally, Captrust Financial Advisors boosted its stake in Spirit AeroSystems by 57.7% in the second quarter. Captrust Financial Advisors now owns 2,169 shares of the aerospace company’s stock valued at $64,000 after acquiring an additional 794 shares in the last quarter. 88.05% 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, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and fully functional and tested wing systems.