Spirit AeroSystems Holdings Upgraded to “Outperform” at Cowen and Company (SPR)
Spirit AeroSystems Holdings (NYSE:SPR) was upgraded by investment analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $40.00 price objective on the stock. Cowen and Company’s target price suggests a potential upside of 19.12% from the stock’s previous close.
Shares of Spirit AeroSystems Holdings (NYSE:SPR) traded up 0.80% during mid-day trading on Friday, hitting $33.85. The stock had a trading volume of 650,993 shares. Spirit AeroSystems Holdings has a 52-week low of $20.55 and a 52-week high of $35.89. The stock’s 50-day moving average is $31.79 and its 200-day moving average is $31.07. The company’s market cap is $4.899 billion.
Spirit AeroSystems Holdings (NYSE:SPR) last issued its quarterly earnings data on Friday, May 2nd. The company reported $1.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.64 by $0.43. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $0.57 earnings per share. Spirit AeroSystems Holdings’s revenue was up 19.9% compared to the same quarter last year. Analysts expect that Spirit AeroSystems Holdings will post $2.90 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Wolfe Research initiated coverage on shares of Spirit AeroSystems Holdings in a research note on Tuesday, May 13th. They set a “market perform” rating on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of Spirit AeroSystems Holdings from $35.00 to $38.00 in a research note on Tuesday, May 6th. They now have a “buy” rating on the stock. Finally, analysts at Sterne Agee raised their price target on shares of Spirit AeroSystems Holdings from $8.00 to $35.00 in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Spirit AeroSystems Holdings currently has a consensus rating of “Hold” and a consensus price target of $32.30.
In other Spirit AeroSystems Holdings news, EVP David M. Coleal unloaded 14,317 shares of Spirit AeroSystems Holdings stock on the open market in a transaction dated Friday, May 23rd. The stock was sold at an average price of $31.79, for a total value of $455,137.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Spirit AeroSystems Holdings, Inc (NYSE:SPR) is an independent non- original equipment manufacturer (OEM) aircraft parts designers and manufacturers of commercial aerostructures.
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