Spirit AeroSystems (NYSE:SPR) PT Raised to $40.00

Spirit AeroSystems (NYSE:SPR) had its price target increased by Susquehanna from $33.00 to $40.00 in a report issued on Friday, Benzinga reports. The firm currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price objective would indicate a potential upside of 16.72% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Morgan Stanley dropped their target price on Spirit AeroSystems from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Citigroup assumed coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They issued a “buy” rating and a $39.00 target price on the stock. Stifel Nicolaus increased their target price on Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, March 20th. StockNews.com raised Spirit AeroSystems from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Finally, KeyCorp assumed coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They issued a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Spirit AeroSystems currently has an average rating of “Hold” and an average target price of $31.33.

Spirit AeroSystems Trading Down 1.3 %

Spirit AeroSystems stock opened at $34.27 on Friday. Spirit AeroSystems has a twelve month low of $14.65 and a twelve month high of $36.34. The stock’s fifty day simple moving average is $32.29 and its 200-day simple moving average is $27.75. The firm has a market capitalization of $3.98 billion, a P/E ratio of -5.66, a P/E/G ratio of 14.03 and a beta of 1.77.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Tuesday, February 6th. The aerospace company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.84). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the company earned ($1.46) earnings per share. The company’s revenue for the quarter was up 37.3% on a year-over-year basis. Sell-side analysts predict that Spirit AeroSystems will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Spirit AeroSystems by 8.8% in the fourth quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock valued at $344,649,000 after purchasing an additional 876,673 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Spirit AeroSystems by 1.3% in the first 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 period. Alliancebernstein L.P. lifted its position in Spirit AeroSystems by 20.1% in the fourth 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 period. BlackRock Inc. lifted its position in Spirit AeroSystems by 4.8% in the first 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 period. Finally, Earnest Partners LLC lifted its position in Spirit AeroSystems by 5.0% in the third quarter. Earnest Partners LLC now owns 4,401,341 shares of the aerospace company’s stock valued at $71,038,000 after purchasing an additional 209,531 shares during the period. Institutional investors and hedge funds own 93.59% 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, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.