Spirit AeroSystems (NYSE:SPR) Price Target Increased to $34.00 by Analysts at UBS Group

Spirit AeroSystems (NYSE:SPR) had its target price upped by analysts at UBS Group from $33.00 to $34.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the aerospace company’s stock. UBS Group’s price target points to a potential upside of 0.35% from the stock’s current price.

SPR has been the subject of a number of other reports. The Goldman Sachs Group upped their price target on Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Stifel Nicolaus upped their price target on Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, March 20th. Susquehanna increased their price objective on Spirit AeroSystems from $33.00 to $40.00 and gave the company a “positive” rating in a report on Friday, April 12th. Benchmark reissued a “hold” rating on shares of Spirit AeroSystems in a report on Thursday, June 20th. Finally, Royal Bank of Canada increased their price objective on Spirit AeroSystems from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Spirit AeroSystems presently has a consensus rating of “Hold” and a consensus target price of $32.89.

Spirit AeroSystems Stock Down 0.3 %

Shares of SPR opened at $33.88 on Monday. The stock has a 50 day moving average price of $31.35 and a 200 day moving average price of $31.21. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -3.90 and a beta of 1.84. Spirit AeroSystems has a 52-week low of $14.65 and a 52-week high of $36.34.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $1.62 billion. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the business earned ($1.69) earnings per share. On average, equities analysts anticipate that Spirit AeroSystems will post -2.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

Hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Spirit AeroSystems in the first quarter worth $25,000. Principal Securities Inc. purchased a new position in Spirit AeroSystems in the fourth quarter worth $26,000. Riverview Trust Co purchased a new position in Spirit AeroSystems in the first quarter worth $35,000. Allspring Global Investments Holdings LLC raised its position in Spirit AeroSystems by 148.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 724 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in Spirit AeroSystems by 586.2% in the first quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock worth $70,000 after acquiring an additional 1,659 shares in the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

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.