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

Spirit AeroSystems (NYSE:SPR - Get Free Report) had its price target hoisted by analysts at Royal Bank of Canada from $33.00 to $35.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "sector perform" rating on the aerospace company's stock. Royal Bank of Canada's price objective would indicate a potential upside of 13.31% from the company's previous close.

A number of other analysts have also recently commented on SPR. Morgan Stanley lowered their price target on Spirit AeroSystems from $35.00 to $33.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 7th. Susquehanna boosted their target price on 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 shares of Spirit AeroSystems from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $27.00 to $35.00 in a report on Thursday, February 8th. KeyCorp began coverage on Spirit AeroSystems in a research note on Wednesday, January 17th. They set a "sector weight" rating on the stock. Finally, UBS Group dropped their price objective on shares of Spirit AeroSystems from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Wednesday. 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $32.83.

Spirit AeroSystems Stock Performance

Shares of NYSE SPR traded down $2.02 during midday trading on Wednesday, reaching $30.89. The stock had a trading volume of 4,007,250 shares, compared to its average volume of 3,827,611. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of -5.16, a price-to-earnings-growth ratio of 25.80 and a beta of 1.79. The stock has a 50-day moving average of $33.50 and a 200-day moving average of $29.64. Spirit AeroSystems has a 12-month low of $14.65 and a 12-month high of $36.34.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The aerospace company reported ($3.93) EPS for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the firm earned ($1.69) earnings per share. The firm's revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, analysts forecast that Spirit AeroSystems will post 0.15 EPS for the current fiscal year.

Institutional Trading of Spirit AeroSystems

Large investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Spirit AeroSystems in the first quarter valued at approximately $25,000. Principal Securities Inc. bought a new stake in shares of Spirit AeroSystems during the 4th quarter worth $26,000. Riverview Trust Co acquired a new stake in Spirit AeroSystems during the 1st quarter valued at approximately $35,000. Allspring Global Investments Holdings LLC raised its position in shares of 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 in the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in shares of Spirit AeroSystems by 586.2% in the 1st 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 in the last quarter. 93.59% of the stock is owned by 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.