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

Spirit AeroSystems (NYSE:SPR) had its price objective reduced by UBS Group from $35.00 to $33.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group upped their target price on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a neutral rating in a report on Tuesday, April 16th. StockNews.com raised Spirit AeroSystems from a sell rating to a hold rating in a research note on Wednesday, February 7th. Susquehanna lifted their target price on Spirit AeroSystems from $33.00 to $40.00 and gave the company a positive rating in a research note on Friday, April 12th. Truist Financial boosted their target price on Spirit AeroSystems from $26.00 to $30.00 and gave the company a hold rating in a report on Wednesday, January 10th. Finally, KeyCorp began coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They set a sector weight rating for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $32.83.

Spirit AeroSystems Stock Down 6.1 %

Shares of NYSE SPR opened at $30.89 on Wednesday. The stock has a market cap of $3.58 billion, a PE ratio of -5.10, a price-to-earnings-growth ratio of 25.80 and a beta of 1.79. Spirit AeroSystems has a 52-week low of $14.65 and a 52-week high of $36.34. The business has a 50-day moving average price of $33.53 and a 200 day moving average price of $29.65.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the business posted ($1.69) EPS. The company’s revenue was up 19.0% on a year-over-year basis. Sell-side analysts anticipate that Spirit AeroSystems will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Several institutional investors have recently modified their holdings of SPR. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Spirit AeroSystems during the first quarter worth $25,000. Principal Securities Inc. purchased a new position in shares of Spirit AeroSystems in the fourth quarter valued at $26,000. Riverview Trust Co purchased a new stake in shares of Spirit AeroSystems in the 1st quarter worth about $35,000. Allspring Global Investments Holdings LLC grew its stake in 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 valued at $44,000 after acquiring an additional 724 shares during the last quarter. Finally, Manchester Capital Management LLC grew its stake in Spirit AeroSystems by 586.2% in the 1st quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock valued at $70,000 after acquiring an additional 1,659 shares during the last quarter. 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.