Sanford C. Bernstein Reiterates “Market Perform” Rating for Spirit AeroSystems (NYSE:SPR)

Spirit AeroSystems (NYSE:SPR)‘s stock had its “market perform” rating restated by research analysts at Sanford C. Bernstein in a research report issued to clients and investors on Monday, Benzinga reports.

Several other brokerages have also recently commented on SPR. The Goldman Sachs Group raised their target price on Spirit AeroSystems from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $37.00 target price (up from $36.00) on shares of Spirit AeroSystems in a research report on Monday. UBS Group boosted their price objective on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. Royal Bank of Canada increased their target price 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. Finally, Barclays restated an “equal weight” rating and issued a $37.00 price target (down from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.42.

Spirit AeroSystems Stock Up 0.5 %

Shares of SPR stock opened at $34.53 on Monday. The company has a market cap of $4.02 billion, a P/E ratio of -3.97 and a beta of 1.84. Spirit AeroSystems has a 52 week low of $14.65 and a 52 week high of $36.34. The business has a 50 day moving average of $31.55 and a two-hundred day moving average of $31.32.

Spirit AeroSystems (NYSE:SPR) last released its quarterly 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 firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the firm posted ($1.69) earnings per share. The business’s quarterly revenue was up 19.0% on a year-over-year basis. Analysts expect that Spirit AeroSystems will post -3 EPS for the current fiscal year.

Institutional Trading of Spirit AeroSystems

Several institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Spirit AeroSystems in the 1st quarter valued at about $25,000. Principal Securities Inc. purchased a new stake in Spirit AeroSystems in the 4th quarter worth approximately $26,000. Riverview Trust Co purchased a new stake in shares of Spirit AeroSystems in the first quarter worth $35,000. Allspring Global Investments Holdings LLC boosted its position in shares of Spirit AeroSystems by 148.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 724 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its position in Spirit AeroSystems by 586.2% during the first quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock valued at $70,000 after purchasing an additional 1,659 shares during the last quarter. Institutional investors own 93.59% of the company’s stock.

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.