The Goldman Sachs Group Increases Spirit AeroSystems (NYSE:SPR) Price Target to $31.00

Spirit AeroSystems (NYSE:SPR) had its price target boosted by The Goldman Sachs Group from $26.00 to $31.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

A number of other brokerages also recently issued reports on SPR. Citigroup began coverage on Spirit AeroSystems in a research report on Wednesday, January 17th. They set a buy rating and a $39.00 price objective on the stock. Susquehanna upped their price objective on Spirit AeroSystems from $33.00 to $40.00 and gave the company a positive rating in a research report on Friday, April 12th. Morgan Stanley decreased their price objective on Spirit AeroSystems from $35.00 to $33.00 and set an equal weight rating on the stock in a research report on Wednesday, February 7th. StockNews.com raised Spirit AeroSystems from a sell rating to a hold rating in a research note on Wednesday, February 7th. Finally, Stifel Nicolaus upped their target price on Spirit AeroSystems from $30.00 to $34.00 and gave the company a hold rating in a research note on Wednesday, March 20th. 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $31.39.

Spirit AeroSystems Price Performance

Shares of SPR stock opened at $33.73 on Tuesday. Spirit AeroSystems has a 1 year low of $14.65 and a 1 year high of $36.34. The stock’s 50 day simple moving average is $32.53 and its two-hundred day simple moving average is $28.08. The company has a market cap of $3.91 billion, a PE ratio of -5.57, a price-to-earnings-growth ratio of 13.84 and a beta of 1.77.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SPR. Price T Rowe Associates Inc. MD grew its stake in Spirit AeroSystems by 6,821.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,591,729 shares of the aerospace company’s stock worth $134,538,000 after purchasing an additional 4,525,393 shares in the last quarter. Maple Rock Capital Partners Inc. bought a new position in Spirit AeroSystems in the first quarter worth approximately $83,597,000. Wolf Hill Capital Management LP bought a new position in Spirit AeroSystems in the first quarter worth approximately $78,680,000. Morgan Stanley grew its stake in Spirit AeroSystems by 108.4% in the third quarter. Morgan Stanley now owns 4,195,996 shares of the aerospace company’s stock worth $67,723,000 after purchasing an additional 2,182,434 shares in the last quarter. Finally, Norges Bank bought a new position in Spirit AeroSystems in the fourth quarter worth approximately $62,432,000. 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.