Susquehanna Forecasts Strong Price Appreciation for Spirit Aerosystems (NYSE:SPR) Stock

Spirit Aerosystems (NYSE:SPR - Get Free Report) had its price objective raised by Susquehanna from $37.00 to $40.00 in a report released on Monday, July 14th, MarketBeat Ratings reports. The firm currently has a "neutral" rating on the aerospace company's stock. Susquehanna's price objective indicates a potential upside of 1.95% from the stock's previous close.

Spirit Aerosystems Trading Down 2.2%

Spirit Aerosystems stock opened at $39.24 on Monday. The company has a market cap of $4.60 billion, a price-to-earnings ratio of -2.15 and a beta of 1.61. The business's 50 day simple moving average is $38.54 and its 200 day simple moving average is $35.81. Spirit Aerosystems has a 12 month low of $27.00 and a 12 month high of $42.33.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last released its earnings results on Thursday, May 1st. The aerospace company reported ($4.25) earnings per share for the quarter, missing the consensus estimate of ($1.14) by ($3.11). The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the business earned ($3.93) EPS. The business's quarterly revenue was down 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that Spirit Aerosystems will post -11.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spirit Aerosystems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in Spirit Aerosystems in the 4th quarter valued at $520,000. Raymond James Financial Inc. acquired a new position in Spirit Aerosystems during the fourth quarter valued at approximately $290,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Spirit Aerosystems by 20.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,231 shares of the aerospace company's stock valued at $1,030,000 after acquiring an additional 5,135 shares in the last quarter. Swiss National Bank increased its position in Spirit Aerosystems by 0.7% during the fourth quarter. Swiss National Bank now owns 229,300 shares of the aerospace company's stock worth $7,815,000 after buying an additional 1,500 shares during the last quarter. Finally, Vestcor Inc bought a new position in Spirit Aerosystems during the 4th quarter worth $97,000. Hedge funds and other institutional investors own 93.59% of the company's stock.

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.