Barclays Reaffirms Equal Weight Rating for Spirit AeroSystems (NYSE:SPR)

Spirit AeroSystems (NYSE:SPR)‘s stock had its “equal weight” rating restated by Barclays in a report released on Wednesday, Benzinga reports. They presently have a $37.00 price target on the aerospace company’s stock, down from their previous price target of $40.00. Barclays‘s price target points to a potential upside of 9.21% from the company’s current price.

A number of other equities analysts have also recently issued reports on SPR. The Goldman Sachs Group increased their target price on Spirit AeroSystems from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Stifel Nicolaus boosted their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, March 20th. Benchmark reiterated a “hold” rating on shares of Spirit AeroSystems in a research report on Thursday, June 20th. UBS Group boosted their price target on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Susquehanna raised their price objective on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.18.

Spirit AeroSystems Stock Down 0.3 %

Shares of NYSE SPR opened at $33.88 on Wednesday. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $36.34. The company has a market cap of $3.95 billion, a P/E ratio of -3.90 and a beta of 1.84. The business’s 50 day moving average is $31.35 and its two-hundred day moving average is $31.21.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data 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 firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the company posted ($1.69) EPS. The business’s quarterly revenue was up 19.0% on a year-over-year basis. Sell-side analysts expect that Spirit AeroSystems will post -2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

A number of institutional investors and hedge funds have recently modified their holdings of SPR. Vanguard Group Inc. lifted its holdings in Spirit AeroSystems by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock worth $395,128,000 after purchasing an additional 109,632 shares during the last quarter. Steadfast Capital Management LP lifted its holdings in shares of Spirit AeroSystems by 1,274.6% during the first quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after buying an additional 4,371,874 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its position in shares of Spirit AeroSystems by 7.2% in the first quarter. Maple Rock Capital Partners Inc. now owns 4,423,000 shares of the aerospace company’s stock valued at $159,538,000 after acquiring an additional 296,000 shares during the period. Sei Investments Co. raised its stake in Spirit AeroSystems by 39.3% in the 4th quarter. Sei Investments Co. now owns 1,965,370 shares of the aerospace company’s stock worth $62,459,000 after purchasing an additional 554,666 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Spirit AeroSystems during the 4th quarter worth approximately $62,432,000. 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.