UBS Group Increases Spirit AeroSystems (NYSE:SPR) Price Target to $34.00

Spirit AeroSystems (NYSE:SPR) had its target price boosted by UBS Group from $33.00 to $34.00 in a report issued on Monday, Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

A number of other research analysts also recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Spirit AeroSystems from $26.00 to $31.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. StockNews.com downgraded Spirit AeroSystems from a hold rating to a sell rating in a research note on Thursday, May 9th. Royal Bank of Canada boosted their price objective on Spirit AeroSystems from $33.00 to $35.00 and gave the company a sector perform rating in a research note on Wednesday, May 8th. Stifel Nicolaus upped their price target on Spirit AeroSystems from $30.00 to $34.00 and gave the stock a hold rating in a research note on Wednesday, March 20th. Finally, Susquehanna upped their price target on Spirit AeroSystems from $33.00 to $40.00 and gave the stock a positive rating in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $32.89.

Spirit AeroSystems Price Performance

SPR opened at $33.97 on Monday. Spirit AeroSystems has a 1 year low of $14.65 and a 1 year high of $36.34. The stock has a 50-day moving average price of $31.32 and a 200-day moving average price of $31.18. The firm has a market cap of $3.96 billion, a PE ratio of -3.91 and a beta of 1.80.

Spirit AeroSystems (NYSE:SPR) last issued 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 business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the business posted ($1.69) earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Spirit AeroSystems will post -2.94 EPS for the current year.

Institutional Trading of Spirit AeroSystems

Institutional investors and hedge funds have recently made changes to their positions in the business. Steadfast Capital Management LP boosted its stake in shares of Spirit AeroSystems by 1,274.6% in the first quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after acquiring an additional 4,371,874 shares during the last quarter. Norges Bank acquired a new position in Spirit AeroSystems during the fourth quarter worth $62,432,000. Balyasny Asset Management L.P. boosted its stake in Spirit AeroSystems by 495.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,737,893 shares of the aerospace company’s stock worth $55,230,000 after buying an additional 1,445,994 shares during the last quarter. Vanguard Group Inc. boosted its stake in Spirit AeroSystems by 8.8% during the fourth quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock worth $344,649,000 after buying an additional 876,673 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Spirit AeroSystems by 9,458.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 800,152 shares of the aerospace company’s stock worth $12,914,000 after buying an additional 791,781 shares during the last quarter. 93.59% of the stock is currently owned by hedge funds and other 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.