Spirit AeroSystems Holdings Given “Buy” Rating at Citigroup Inc. (SPR)
Spirit AeroSystems Holdings (NYSE:SPR)‘s stock had its “buy” rating reaffirmed by investment analysts at Citigroup Inc. in a note issued to investors on Tuesday. They currently have a $48.00 price objective on the stock, up from their previous price objective of $42.50. Citigroup Inc.’s price target would indicate a potential upside of 25.16% from the stock’s previous close.
Spirit AeroSystems Holdings (NYSE:SPR) traded up 0.42% on Tuesday, hitting $38.51. The stock had a trading volume of 154,369 shares. Spirit AeroSystems Holdings has a 52-week low of $22.75 and a 52-week high of $38.49. The stock has a 50-day moving average of $35.65 and a 200-day moving average of $31.93. The company’s market cap is $5.284 billion. Spirit AeroSystems Holdings also saw a large growth in short interest in August. As of August 15th, there was short interest totalling 3,249,878 shares, a growth of 74.7% from the July 31st total of 1,859,866 shares. Based on an average daily volume of 2,779,275 shares, the short-interest ratio is currently 1.2 days. Approximately 2.5% of the company’s stock are short sold.
Spirit AeroSystems Holdings (NYSE:SPR) last issued its quarterly earnings data on Friday, August 1st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, analysts predict that Spirit AeroSystems Holdings will post $3.31 earnings per share for the current fiscal year.
A number of other firms have also recently commented on SPR. Analysts at RBC Capital raised their price target on shares of Spirit AeroSystems Holdings from $1.00 to $40.00 in a research note on Tuesday. Separately, analysts at Zacks upgraded shares of Spirit AeroSystems Holdings from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 6th. They now have a $39.60 price target on the stock. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of Spirit AeroSystems Holdings in a research note on Tuesday, August 5th. They now have a $43.00 price target on the stock, up previously from $31.00. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.35.
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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