Spirit AeroSystems (NYSE:SPR) Stock Rating Reaffirmed by Barclays

Spirit AeroSystems (NYSE:SPR)‘s stock had its “equal weight” rating restated by analysts at Barclays in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $37.00 price target on the aerospace company’s stock, down from their previous price target of $40.00. Barclays‘s target price suggests a potential upside of 9.40% from the stock’s current price.

SPR has been the subject of several other research reports. Citigroup restated a “neutral” rating and issued a $37.25 target price (down previously from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday. UBS Group boosted their price objective on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday. Benchmark reissued a “hold” rating on shares of Spirit AeroSystems in a report on Thursday, June 20th. Stifel Nicolaus lifted their price objective on Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, March 20th. Finally, The Goldman Sachs Group upped their target price on Spirit AeroSystems from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.18.

Spirit AeroSystems Trading Down 0.2 %

Shares of SPR stock opened at $33.82 on Wednesday. The firm’s 50 day moving average is $31.44 and its 200 day moving average is $31.25. The stock has a market capitalization of $3.94 billion, a P/E ratio of -3.89 and a beta of 1.84. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $36.34.

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 the consensus estimate of ($0.44) by ($3.49). The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the company posted ($1.69) EPS. Spirit AeroSystems’s quarterly revenue was up 19.0% on a year-over-year basis. On average, equities analysts predict that Spirit AeroSystems will post -2.94 EPS for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Steadfast Capital Management LP increased its stake in Spirit AeroSystems by 1,274.6% in the 1st quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after purchasing an additional 4,371,874 shares during the period. Norges Bank bought a new stake in Spirit AeroSystems during the 4th quarter valued at $62,432,000. Balyasny Asset Management L.P. boosted its position in Spirit AeroSystems by 495.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,737,893 shares of the aerospace company’s stock valued at $55,230,000 after buying an additional 1,445,994 shares during the period. Vanguard Group Inc. grew its holdings 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 worth $344,649,000 after acquiring an additional 876,673 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Spirit AeroSystems by 9,458.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 800,152 shares of the aerospace company’s stock valued at $12,914,000 after acquiring an additional 791,781 shares during the period. Institutional investors own 93.59% of the company’s stock.

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.