Spirit AeroSystems (NYSE:SPR) Price Target Raised to $35.00 at Royal Bank of Canada

Spirit AeroSystems (NYSE:SPR) had its price objective raised by Royal Bank of Canada from $33.00 to $35.00 in a research note published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the aerospace company’s stock.

SPR has been the topic of several other reports. Susquehanna upped their price objective on Spirit AeroSystems from $33.00 to $40.00 and gave the stock a positive rating in a report on Friday, April 12th. UBS Group lowered their price objective on shares of Spirit AeroSystems from $35.00 to $33.00 and set a neutral rating for the company in a research report on Wednesday. Morgan Stanley reduced their target price on shares of Spirit AeroSystems from $35.00 to $33.00 and set an equal weight rating on the stock in a report on Wednesday, February 7th. Stifel Nicolaus upped their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the company a hold rating in a research report on Wednesday, March 20th. Finally, StockNews.com upgraded Spirit AeroSystems from a sell rating to a hold rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $32.83.

Spirit AeroSystems Trading Down 0.4 %

Shares of NYSE:SPR traded down $0.12 during midday trading on Wednesday, reaching $30.78. 1,773,671 shares of the company were exchanged, compared to its average volume of 3,804,806. The stock has a market cap of $3.57 billion, a PE ratio of -5.10, a price-to-earnings-growth ratio of 25.80 and a beta of 1.79. The business’s fifty day moving average is $33.53 and its two-hundred day moving average is $29.65. Spirit AeroSystems has a one year low of $14.65 and a one year high of $36.34.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data 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 firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the firm posted ($1.69) EPS. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, sell-side analysts expect that Spirit AeroSystems will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

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

Spirit AeroSystems Company Profile

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.