The Goldman Sachs Group Boosts Spirit AeroSystems (NYSE:SPR) Price Target to $31.00

Spirit AeroSystems (NYSE:SPR) had its price target hoisted by The Goldman Sachs Group from $26.00 to $31.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the aerospace company’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 6.54% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Morgan Stanley lowered 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 research report on Wednesday, February 7th. 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 research report on Wednesday, January 10th. Stifel Nicolaus lifted their price objective 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. Susquehanna lifted their price objective on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the company a “positive” rating in a research report on Friday. Finally, TD Cowen upgraded shares of Spirit AeroSystems from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $27.00 to $35.00 in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.39.

Spirit AeroSystems Trading Down 0.7 %

NYSE:SPR traded down $0.24 during mid-day trading on Tuesday, hitting $33.17. The stock had a trading volume of 257,624 shares, compared to its average volume of 4,094,551. The stock has a 50-day simple moving average of $32.42 and a two-hundred day simple moving average of $27.96. The company has a market capitalization of $3.85 billion, a PE ratio of -5.54, a PEG ratio of 13.84 and a beta of 1.77. Spirit AeroSystems has a twelve month low of $14.65 and a twelve month high of $36.34.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Tuesday, February 6th. The aerospace company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.84). The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm posted ($1.46) earnings per share. The company’s quarterly revenue was up 37.3% compared to the same quarter last year. Sell-side analysts predict that Spirit AeroSystems will post 0.29 EPS for the current fiscal year.

Institutional Trading of Spirit AeroSystems

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Spirit AeroSystems by 8.8% during the 4th quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock worth $344,649,000 after purchasing an additional 876,673 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Spirit AeroSystems by 1.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,077,397 shares of the aerospace company’s stock worth $244,384,000 after purchasing an additional 93,707 shares in the last quarter. Alliancebernstein L.P. grew its position in Spirit AeroSystems by 20.1% in the fourth quarter. Alliancebernstein L.P. now owns 6,695,378 shares of the aerospace company’s stock valued at $198,183,000 after acquiring an additional 1,122,570 shares in the last quarter. BlackRock Inc. grew its position in Spirit AeroSystems by 4.8% in the first quarter. BlackRock Inc. now owns 6,222,548 shares of the aerospace company’s stock valued at $214,865,000 after acquiring an additional 286,582 shares in the last quarter. Finally, Earnest Partners LLC grew its position in Spirit AeroSystems by 5.0% in the third quarter. Earnest Partners LLC now owns 4,401,341 shares of the aerospace company’s stock valued at $71,038,000 after acquiring an additional 209,531 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

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.