Spirit AeroSystems (NYSE:SPR) Price Target Cut to $33.00 by Analysts at UBS Group

Spirit AeroSystems (NYSE:SPR) had its target price cut by analysts at UBS Group from $35.00 to $33.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the aerospace company’s stock. UBS Group’s price target would suggest a potential upside of 7.21% from the stock’s current price.

Several other analysts also recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial lifted their price objective on shares of Spirit AeroSystems from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Susquehanna upped their target price on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the stock a “positive” rating in a report on Friday, April 12th. TD Cowen upgraded Spirit AeroSystems from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $27.00 to $35.00 in a research note on Thursday, February 8th. Finally, KeyCorp began coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They set a “sector weight” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.83.

Spirit AeroSystems Trading Down 0.4 %

Shares of NYSE SPR opened at $30.78 on Wednesday. The firm has a market capitalization of $3.57 billion, a P/E ratio of -5.08, a P/E/G ratio of 25.80 and a beta of 1.79. The firm’s 50-day moving average price is $33.57 and its 200-day moving average price is $29.66. Spirit AeroSystems has a 1-year low of $14.65 and a 1-year high of $36.34.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the business posted ($1.69) earnings per share. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. Equities research analysts forecast that Spirit AeroSystems will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in Spirit AeroSystems during the first quarter valued at $25,000. Principal Securities Inc. bought a new position in shares of Spirit AeroSystems during the 4th quarter worth $26,000. Riverview Trust Co purchased a new stake in Spirit AeroSystems in the 1st quarter worth about $35,000. Allspring Global Investments Holdings LLC increased its holdings in Spirit AeroSystems by 148.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 724 shares during the last quarter. Finally, Manchester Capital Management LLC raised its stake in Spirit AeroSystems by 586.2% in the 1st quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock valued at $70,000 after acquiring an additional 1,659 shares during the period. Institutional investors own 93.59% of the company’s stock.

About Spirit AeroSystems

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.