Spirit AeroSystems (NYSE:SPR) Stock Rating Reaffirmed by Wolfe Research

Spirit AeroSystems (NYSE:SPR)‘s stock had its “peer perform” rating reaffirmed by equities research analysts at Wolfe Research in a research report issued on Wednesday, Benzinga reports.

Several other equities research analysts have also issued reports on SPR. Sanford C. Bernstein restated a “market perform” rating on shares of Spirit AeroSystems in a research note on Monday. Royal Bank of Canada lifted their price objective on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 8th. The Goldman Sachs Group lifted their price objective on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Stifel Nicolaus lifted their price objective on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the company a “hold” rating in a research note on Monday. Finally, Citigroup reiterated a “neutral” rating and issued a $37.25 price objective (down from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Spirit AeroSystems has an average rating of “Hold” and an average price target of $33.42.

Spirit AeroSystems Stock Down 0.4 %

Shares of SPR stock opened at $34.48 on Wednesday. The company has a 50 day moving average of $31.63 and a 200-day moving average of $31.36. Spirit AeroSystems has a 12-month low of $14.65 and a 12-month high of $36.34. The firm has a market cap of $4.02 billion, a P/E ratio of -3.97 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (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 the consensus estimate of $1.62 billion. During the same period in the prior year, the firm posted ($1.69) EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. As a group, equities analysts expect that Spirit AeroSystems will post -3 EPS for the current year.

Institutional Trading of Spirit AeroSystems

A number of hedge funds have recently made changes to their positions in SPR. Steadfast Capital Management LP lifted its holdings in shares of Spirit AeroSystems by 1,274.6% during the 1st quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after acquiring an additional 4,371,874 shares during the last quarter. Norges Bank bought a new stake in Spirit AeroSystems in the fourth quarter worth $62,432,000. Balyasny Asset Management L.P. lifted its stake in Spirit AeroSystems by 495.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,737,893 shares of the aerospace company’s stock worth $55,230,000 after purchasing an additional 1,445,994 shares during the last quarter. Vanguard Group Inc. lifted its stake in Spirit AeroSystems by 8.8% in the fourth quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock worth $344,649,000 after purchasing an additional 876,673 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Spirit AeroSystems by 39.3% in the fourth quarter. Sei Investments Co. now owns 1,965,370 shares of the aerospace company’s stock worth $62,459,000 after purchasing an additional 554,666 shares during the last quarter. 93.59% of the stock is owned by institutional investors.

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.