Canaccord Genuity Increases Spirit AeroSystems Holdings Price Target to $43.00 (SPR)
Equities researchers at Canaccord Genuity lifted their price objective on shares of Spirit AeroSystems Holdings (NYSE:SPR) from $36.00 to $43.00 in a research report issued on Monday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective suggests a potential upside of 16.72% from the company’s current price.
Spirit AeroSystems Holdings (NYSE:SPR) opened at 36.84 on Monday. Spirit AeroSystems Holdings has a 1-year low of $22.25 and a 1-year high of $37.18. The stock has a 50-day moving average of $33.86 and a 200-day moving average of $31.35. The company’s market cap is $5.331 billion. Spirit AeroSystems Holdings also was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totalling 2,122,153 shares, a growth of 96.2% from the June 30th total of 1,081,598 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 867,086 shares, the days-to-cover ratio is presently 2.4 days.
Spirit AeroSystems Holdings (NYSE:SPR) last issued its quarterly earnings data on Friday, August 1st. The company reported $1.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $0.33. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. On average, analysts predict that Spirit AeroSystems Holdings will post $2.98 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on SPR. Analysts at RBC Capital raised their price target on shares of Spirit AeroSystems Holdings from $35.00 to $39.00 in a research note on Monday. They now have a “sector perform” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Spirit AeroSystems Holdings in a research note on Friday, July 11th. They now have a $39.00 price target on the stock, up previously from $38.00. Finally, analysts at Sterne Agee upgraded shares of Spirit AeroSystems Holdings from a “neutral” rating to a “buy” rating in a research note on Thursday, June 19th. They now have a $43.00 price target on the stock, up previously from $35.00. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $34.69.
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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