JPMorgan Chase & Co. Lowers Spirit AeroSystems (NYSE:SPR) Price Target to $36.00

Spirit AeroSystems (NYSE:SPR) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $38.00 to $36.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 45.54% from the company’s current price.

Several other equities analysts have also issued reports on the company. Susquehanna dropped their price target on Spirit AeroSystems from $37.00 to $32.00 and set a “positive” rating on the stock in a research note on Thursday, August 3rd. The Goldman Sachs Group downgraded Spirit AeroSystems from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $30.00 in a report on Wednesday, August 2nd. Melius downgraded Spirit AeroSystems from an “overweight” rating to a “neutral” rating and set a $23.00 price objective for the company. in a report on Tuesday, September 5th. Bank of America decreased their price target on Spirit AeroSystems from $22.00 to $18.00 and set an “underperform” rating for the company in a report on Friday, August 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded Spirit AeroSystems from a “hold” rating to a “buy” rating and upped their price target for the stock from $16.00 to $30.00 in a report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Spirit AeroSystems has a consensus rating of “Hold” and an average price target of $27.93.

Spirit AeroSystems Trading Up 1.5 %

NYSE:SPR opened at $24.74 on Thursday. The stock has a market cap of $2.61 billion, a P/E ratio of -2.78 and a beta of 1.69. The stock’s 50-day moving average is $19.59 and its 200-day moving average is $23.94. Spirit AeroSystems has a 1-year low of $14.65 and a 1-year high of $38.55.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Wednesday, November 1st. The aerospace company reported ($1.42) EPS for the quarter, topping analysts’ consensus estimates of ($1.56) by $0.14. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.46 billion. Spirit AeroSystems’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.15) earnings per share. As a group, equities analysts forecast that Spirit AeroSystems will post -3.15 EPS for the current year.

Institutional Trading of Spirit AeroSystems

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Spirit AeroSystems by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,384,185 shares of the aerospace company’s stock worth $458,793,000 after purchasing an additional 68,953 shares in the last quarter. FMR LLC increased its position in shares of Spirit AeroSystems by 58.8% during the 1st quarter. FMR LLC now owns 8,240,685 shares of the aerospace company’s stock valued at $284,551,000 after purchasing an additional 3,051,014 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Spirit AeroSystems by 1.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,077,397 shares of the aerospace company’s stock valued at $244,384,000 after purchasing an additional 93,707 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Spirit AeroSystems by 20.1% during the 4th quarter. Alliancebernstein L.P. now owns 6,695,378 shares of the aerospace company’s stock valued at $198,183,000 after purchasing an additional 1,122,570 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Spirit AeroSystems by 4.8% during the 1st quarter. BlackRock Inc. now owns 6,222,548 shares of the aerospace company’s stock valued at $214,865,000 after purchasing an additional 286,582 shares during the last quarter. Hedge funds and other institutional investors own 88.05% of the company’s stock.

Spirit AeroSystems Company Profile

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.