Spirit AeroSystems (NYSE:SPR) PT Lowered to $33.00

Spirit AeroSystems (NYSE:SPR) had its price objective dropped by analysts at UBS Group from $35.00 to $33.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the aerospace company’s stock. UBS Group’s price objective would suggest a potential upside of 7.21% from the stock’s previous close.

Several other analysts also recently weighed in on the company. KeyCorp initiated coverage on Spirit AeroSystems in a research note on Wednesday, January 17th. They set a “sector weight” rating for the company. Truist Financial raised their price objective 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. StockNews.com upgraded shares of Spirit AeroSystems from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Stifel Nicolaus raised their price target on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, March 20th. Finally, TD Cowen raised shares of Spirit AeroSystems from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $27.00 to $35.00 in a research report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.83.

Spirit AeroSystems Stock Down 0.4 %

Shares of Spirit AeroSystems stock opened at $30.78 on Wednesday. Spirit AeroSystems has a 12-month low of $14.65 and a 12-month high of $36.34. The stock has a market capitalization of $3.57 billion, a P/E ratio of -5.08, a PEG ratio of 25.80 and a beta of 1.79. The stock has a 50 day moving average price of $33.57 and a two-hundred day moving average price of $29.66.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (EPS) 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 analyst estimates of $1.62 billion. The company’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.69) EPS. Sell-side analysts anticipate that Spirit AeroSystems will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Spirit AeroSystems by 8.8% in the 4th quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock valued at $344,649,000 after acquiring an additional 876,673 shares in the last quarter. Earnest Partners LLC raised its position in Spirit AeroSystems by 5.0% in the 3rd quarter. Earnest Partners LLC now owns 4,401,341 shares of the aerospace company’s stock worth $71,038,000 after purchasing an additional 209,531 shares during the last quarter. Maple Rock Capital Partners Inc. raised its position in Spirit AeroSystems by 8.2% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 2,869,900 shares of the aerospace company’s stock worth $46,320,000 after purchasing an additional 216,900 shares during the last quarter. Sei Investments Co. lifted its holdings in Spirit AeroSystems by 39.3% during the 4th quarter. Sei Investments Co. now owns 1,965,370 shares of the aerospace company’s stock worth $62,459,000 after buying an additional 554,666 shares in the last quarter. Finally, Norges Bank bought a new position in Spirit AeroSystems in the 4th quarter valued at $62,432,000. 93.59% of the stock is currently owned by 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, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.