Spirit AeroSystems (NYSE:SPR) PT Lowered to $33.00

Spirit AeroSystems (NYSE:SPR - Free Report) had its target price decreased by UBS Group from $35.00 to $33.00 in a research note published on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the aerospace company's stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley cut their price objective on 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 increased their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the stock a hold rating in a report on Wednesday, March 20th. Truist Financial upped their price objective on Spirit AeroSystems from $26.00 to $30.00 and gave the stock a hold rating in a research report on Wednesday, January 10th. StockNews.com raised Spirit AeroSystems from a sell rating to a hold rating in a research note on Wednesday, February 7th. Finally, KeyCorp began coverage on Spirit AeroSystems in a research report on Wednesday, January 17th. They issued a sector weight rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $32.83.

Spirit AeroSystems Trading Down 6.1 %

NYSE SPR traded down $2.02 during trading hours on Wednesday, reaching $30.89. The company had a trading volume of 4,007,250 shares, compared to its average volume of 3,827,611. The stock has a market capitalization of $3.58 billion, a P/E 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 1-year low of $14.65 and a 1-year high of $36.34.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last issued 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 firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.62 billion. During the same quarter in the prior year, the company posted ($1.69) EPS. The business's revenue was up 19.0% on a year-over-year basis. As a group, sell-side analysts predict that Spirit AeroSystems will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Spirit AeroSystems in the 4th quarter valued at approximately $62,432,000. Balyasny Asset Management L.P. increased its stake in Spirit AeroSystems by 495.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,737,893 shares of the aerospace company's stock valued at $55,230,000 after buying an additional 1,445,994 shares during the period. Assenagon Asset Management S.A. acquired a new position in Spirit AeroSystems in the 3rd quarter valued at $22,186,000. Barclays PLC raised its position in Spirit AeroSystems by 1,458.1% during the 3rd quarter. Barclays PLC now owns 1,079,512 shares of the aerospace company's stock worth $17,422,000 after buying an additional 1,010,226 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Spirit AeroSystems by 8.8% in the 4th quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company's stock worth $344,649,000 after acquiring an additional 876,673 shares during the period. Hedge funds and other institutional investors 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.