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

Spirit AeroSystems (NYSE:SPR - Get Free Report) had its target price boosted by equities research analysts at The Goldman Sachs Group from $26.00 to $31.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the aerospace company's stock. The Goldman Sachs Group's price target points to a potential downside of 8.09% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. Citigroup initiated coverage on Spirit AeroSystems in a research report on Wednesday, January 17th. They issued a "buy" rating and a $39.00 target price on the stock. TD Cowen upgraded Spirit AeroSystems from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $27.00 to $35.00 in a research report on Thursday, February 8th. StockNews.com upgraded Spirit AeroSystems from a "sell" rating to a "hold" rating in a research report on Wednesday, February 7th. Morgan Stanley decreased their target price on 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. Finally, Stifel Nicolaus lifted their target price on Spirit AeroSystems from $30.00 to $34.00 and gave the company a "hold" rating in a research report on Wednesday, March 20th. One equities research 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. According to data from MarketBeat, Spirit AeroSystems has a consensus rating of "Hold" and an average price target of $31.39.

Spirit AeroSystems Price Performance

SPR stock traded up $0.32 during midday trading on Tuesday, reaching $33.73. The company had a trading volume of 1,607,673 shares, compared to its average volume of 4,114,002. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -5.57, a price-to-earnings-growth ratio of 13.84 and a beta of 1.77. The stock has a 50 day moving average price of $32.53 and a 200-day moving average price of $28.08. Spirit AeroSystems has a 1-year low of $14.65 and a 1-year high of $36.34.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The aerospace company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $1.32 by ($0.84). The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.74 billion. The firm's quarterly revenue was up 37.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.46) earnings per share. As a group, research analysts anticipate that Spirit AeroSystems will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Securities Inc. acquired a new position in shares of Spirit AeroSystems in the fourth quarter worth approximately $26,000. Riverview Trust Co acquired a new position in Spirit AeroSystems in the first quarter valued at approximately $35,000. Money Concepts Capital Corp lifted its stake in Spirit AeroSystems by 1,076.9% in the fourth 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. Captrust Financial Advisors lifted its stake in Spirit AeroSystems by 57.7% in the second quarter. Captrust Financial Advisors now owns 2,169 shares of the aerospace company's stock valued at $64,000 after buying an additional 794 shares during the period. Finally, Ronald Blue Trust Inc. lifted its stake in Spirit AeroSystems by 531.1% in the third quarter. Ronald Blue Trust Inc. now owns 4,601 shares of the aerospace company's stock valued at $74,000 after buying an additional 3,872 shares during the period. 93.59% of the stock is owned by institutional investors and hedge funds.

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.