Spirit AeroSystems Holdings Reaches New 1-Year High Following Analyst Upgrade (SPR)
Shares of Spirit AeroSystems Holdings (NYSE:SPR) reached a new 52-week high during trading on Tuesday after RBC Capital raised their price target on the stock to $40.00, Analyst Ratings Net reports. The stock traded as high as $38.69 and last traded at $38.52, with a volume of 978,506 shares trading hands. The stock had previously closed at $38.35.
A number of other analysts have also recently weighed in on SPR. 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 investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.35.
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 $5.282 billion. Spirit AeroSystems Holdings also was the target of a large 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. Based on an average daily volume of 2,779,275 shares, the short-interest ratio is presently 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.
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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