Spirit AeroSystems (NYSE:SPR) PT Raised to $31.00

Spirit AeroSystems (NYSE:SPR) had its target price raised by The Goldman Sachs Group from $26.00 to $31.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the aerospace company’s stock. The Goldman Sachs Group’s price target indicates a potential downside of 7.07% from the stock’s current price.

A number of other equities research analysts also recently weighed in on SPR. Susquehanna raised their target price on Spirit AeroSystems from $33.00 to $40.00 and gave the company a “positive” rating in a report on Friday, April 12th. Truist Financial raised their price objective on Spirit AeroSystems from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. TD Cowen raised Spirit AeroSystems from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $27.00 to $35.00 in a report on Thursday, February 8th. KeyCorp initiated coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They set a “sector weight” rating on the stock. Finally, Morgan Stanley cut their price objective 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. One equities research 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, Spirit AeroSystems presently has an average rating of “Hold” and an average target price of $31.39.

Spirit AeroSystems Stock Performance

Shares of SPR stock opened at $33.36 on Tuesday. The stock’s fifty day moving average price is $32.64 and its two-hundred day moving average price is $28.12. The company has a market cap of $3.87 billion, a PE ratio of -5.50, a P/E/G ratio of 13.49 and a beta of 1.77. Spirit AeroSystems has a fifty-two week low of $14.65 and a fifty-two week high of $36.34.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results 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 business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.74 billion. The business’s quarterly revenue was up 37.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.46) earnings per share. On average, equities analysts predict that Spirit AeroSystems will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SPR. Principal Securities Inc. bought a new position in shares of Spirit AeroSystems in the 4th quarter worth about $26,000. Riverview Trust Co bought a new position in shares of Spirit AeroSystems in the 1st quarter worth about $35,000. Money Concepts Capital Corp raised its position in shares of Spirit AeroSystems by 1,076.9% in the 4th quarter. Money Concepts Capital Corp now owns 1,224 shares of the aerospace company’s stock worth $36,000 after acquiring an additional 1,120 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Spirit AeroSystems by 57.7% in the 2nd quarter. Captrust Financial Advisors now owns 2,169 shares of the aerospace company’s stock worth $64,000 after acquiring an additional 794 shares in the last quarter. Finally, Ronald Blue Trust Inc. increased its position in Spirit AeroSystems by 531.1% in the 3rd quarter. Ronald Blue Trust Inc. now owns 4,601 shares of the aerospace company’s stock valued at $74,000 after buying an additional 3,872 shares in the last quarter. 93.59% of the stock is owned by institutional investors.

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.