Spirit AeroSystems Holdings Given New $40.00 Price Target at RBC Capital (SPR)
Investment analysts at RBC Capital lifted their target price on shares of Spirit AeroSystems Holdings (NYSE:SPR) from $1.00 to $40.00 in a note issued to investors on Tuesday. RBC Capital’s target price would suggest a potential upside of 4.30% from the company’s current price.
Shares of Spirit AeroSystems Holdings (NYSE:SPR) traded up 0.57% during mid-day trading on Tuesday, hitting $38.57. 281,906 shares of the company’s stock traded hands. 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 $5.292 billion. Spirit AeroSystems Holdings also was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 3,249,878 shares, an increase of 74.7% from the July 31st total of 1,859,866 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily trading volume, of 2,779,275 shares, the short-interest ratio is currently 1.2 days.
Spirit AeroSystems Holdings (NYSE:SPR) last posted its quarterly earnings results 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 $3.31 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at Cowen and Company raised their price target on shares of Spirit AeroSystems Holdings from $5.00 to $45.00 in a research note on Tuesday, August 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target 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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