Spirit AeroSystems (NYSE:SPR) Given New $31.00 Price Target at The Goldman Sachs Group

Spirit AeroSystems (NYSE:SPR) had its price objective hoisted by The Goldman Sachs Group from $26.00 to $31.00 in a report issued on Tuesday, Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

Other analysts also recently issued reports about the company. KeyCorp initiated coverage on Spirit AeroSystems in a research note on Wednesday, January 17th. They set a sector weight rating on the stock. Truist Financial lifted their price objective on Spirit AeroSystems from $26.00 to $30.00 and gave the stock a hold rating in a report on Wednesday, January 10th. StockNews.com upgraded shares of Spirit AeroSystems from a sell rating to a hold rating in a research note on Wednesday, February 7th. Stifel Nicolaus increased their price target on Spirit AeroSystems from $30.00 to $34.00 and gave the company a hold rating in a report on Wednesday, March 20th. Finally, Citigroup started coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They issued a buy rating and a $39.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Spirit AeroSystems has an average rating of Hold and a consensus price target of $31.39.

Spirit AeroSystems Trading Down 0.7 %

NYSE:SPR opened at $32.93 on Tuesday. The company has a 50-day moving average price of $32.81 and a 200-day moving average price of $28.26. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of -5.43, a P/E/G ratio of 13.48 and a beta of 1.77. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $36.34.

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

Institutional Investors Weigh In On Spirit AeroSystems

Several hedge funds and other institutional investors have recently modified their holdings of SPR. Principal Securities Inc. bought a new position in Spirit AeroSystems in the 4th quarter valued at $26,000. Riverview Trust Co bought a new stake in Spirit AeroSystems during the 1st quarter valued at about $35,000. Money Concepts Capital Corp boosted its position in Spirit AeroSystems by 1,076.9% in the 4th quarter. Money Concepts Capital Corp now owns 1,224 shares of the aerospace company’s stock valued at $36,000 after buying an additional 1,120 shares during the period. Allspring Global Investments Holdings LLC grew its stake in 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 in the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Spirit AeroSystems by 57.7% during the 2nd quarter. Captrust Financial Advisors now owns 2,169 shares of the aerospace company’s stock worth $64,000 after buying an additional 794 shares in the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

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.