Spirit AeroSystems (NYSE:SPR) Price Target Lowered to $33.00 at UBS Group

Spirit AeroSystems (NYSE:SPR) had its price target trimmed by UBS Group from $35.00 to $33.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the aerospace company’s stock.

A number of other brokerages also recently commented on SPR. Susquehanna upped their target price on Spirit AeroSystems from $33.00 to $40.00 and gave the company a positive rating in a report on Friday, April 12th. StockNews.com upgraded shares of Spirit AeroSystems from a sell rating to a hold rating in a research report on Wednesday, February 7th. Citigroup began coverage on shares of Spirit AeroSystems in a report on Wednesday, January 17th. They issued a buy rating and a $39.00 price objective for the company. KeyCorp initiated coverage on Spirit AeroSystems in a research report on Wednesday, January 17th. They set a sector weight rating on the stock. Finally, Stifel Nicolaus increased their price objective on Spirit AeroSystems from $30.00 to $34.00 and gave the stock a hold rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $32.83.

Spirit AeroSystems Price Performance

Shares of NYSE:SPR opened at $30.89 on Wednesday. The company’s fifty day moving average price is $33.53 and its 200-day moving average price is $29.65. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -5.10, a PEG ratio of 25.80 and a beta of 1.79. Spirit AeroSystems has a one year low of $14.65 and a one year high of $36.34.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.62 billion. Spirit AeroSystems’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.69) EPS. As a group, equities research analysts expect that Spirit AeroSystems will post 0.15 EPS for the current year.

Institutional Trading of Spirit AeroSystems

A number of institutional investors have recently made changes to their positions in SPR. Vanguard Group Inc. lifted its holdings in shares of Spirit AeroSystems by 8.8% during the 4th quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock valued at $344,649,000 after buying an additional 876,673 shares during the period. Earnest Partners LLC grew its position in shares of Spirit AeroSystems by 5.0% during the 3rd quarter. Earnest Partners LLC now owns 4,401,341 shares of the aerospace company’s stock valued at $71,038,000 after acquiring an additional 209,531 shares during the period. Maple Rock Capital Partners Inc. increased its position in Spirit AeroSystems by 8.2% in the third quarter. Maple Rock Capital Partners Inc. now owns 2,869,900 shares of the aerospace company’s stock worth $46,320,000 after buying an additional 216,900 shares in the last quarter. Sei Investments Co. increased its holdings in Spirit AeroSystems by 39.3% in the 4th quarter. Sei Investments Co. now owns 1,965,370 shares of the aerospace company’s stock worth $62,459,000 after acquiring an additional 554,666 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Spirit AeroSystems during the 4th quarter valued at $62,432,000. 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.