Spirit AeroSystems (NYSE:SPR) Price Target Raised to $35.00 at Royal Bank of Canada

Spirit AeroSystems (NYSE:SPR) had its target price raised by analysts at Royal Bank of Canada from $33.00 to $35.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “sector perform” rating on the aerospace company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 13.71% from the company’s current price.

Several other analysts have also recently commented on the stock. Truist Financial boosted their price target on shares of Spirit AeroSystems from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. UBS Group decreased their target price on shares of Spirit AeroSystems from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Wednesday. Citigroup initiated coverage on shares of Spirit AeroSystems in a research note on Wednesday, January 17th. They issued a “buy” rating and a $39.00 price objective on the stock. Susquehanna increased their price objective on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Finally, KeyCorp initiated coverage on shares of Spirit AeroSystems in a research note on Wednesday, January 17th. They issued a “sector weight” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Spirit AeroSystems currently has a consensus rating of “Hold” and an average price target of $32.83.

Spirit AeroSystems Stock Performance

SPR opened at $30.78 on Wednesday. Spirit AeroSystems has a fifty-two week low of $14.65 and a fifty-two week high of $36.34. The firm’s fifty day moving average is $33.57 and its 200 day moving average is $29.66. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -5.08, a price-to-earnings-growth ratio of 25.80 and a beta of 1.79.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the business posted ($1.69) EPS. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, equities research analysts predict that Spirit AeroSystems will post 0.15 earnings per share for the current year.

Institutional Trading of Spirit AeroSystems

Several institutional investors have recently modified their holdings of SPR. Cambridge Investment Research Advisors Inc. grew its position in shares of Spirit AeroSystems by 12.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,757 shares of the aerospace company’s stock valued at $206,000 after purchasing an additional 1,405 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Spirit AeroSystems by 11.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,516 shares of the aerospace company’s stock worth $347,000 after buying an additional 2,178 shares in the last quarter. Inspire Investing LLC lifted its stake in shares of Spirit AeroSystems by 77.4% in the third quarter. Inspire Investing LLC now owns 19,084 shares of the aerospace company’s stock worth $308,000 after buying an additional 8,327 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Spirit AeroSystems in the third quarter worth about $108,000. Finally, Fifth Third Bancorp lifted its stake in shares of Spirit AeroSystems by 19.5% in the third quarter. Fifth Third Bancorp now owns 114,692 shares of the aerospace company’s stock worth $1,851,000 after buying an additional 18,739 shares in the last quarter. 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.