Barclays Lowers Spirit AeroSystems (NYSE:SPR) Price Target to $40.00

Spirit AeroSystems (NYSE:SPR – Get Rating) had its target price decreased by Barclays from $50.00 to $40.00 in a research report report published on Tuesday morning, The Fly reports.

Several other equities analysts also recently weighed in on the company. Truist Financial raised their price target on Spirit AeroSystems from $39.00 to $42.00 in a report on Monday, January 9th. Sanford C. Bernstein reduced their price target on Spirit AeroSystems from $38.00 to $29.00 in a report on Thursday, May 4th. Royal Bank of Canada reduced their price target on Spirit AeroSystems from $36.00 to $32.00 in a report on Thursday, May 4th. StockNews.com upgraded Spirit AeroSystems from a sell rating to a hold rating in a report on Monday. Finally, TD Cowen downgraded Spirit AeroSystems from an outperform rating to a market perform rating and reduced their price objective for the stock from $38.00 to $28.00 in a report on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Spirit AeroSystems currently has a consensus rating of Hold and an average price target of $35.79.

Spirit AeroSystems Trading Down 1.0 %

Shares of Spirit AeroSystems stock opened at $24.26 on Tuesday. The firm has a market capitalization of $2.55 billion, a P/E ratio of -3.28 and a beta of 1.64. The business has a fifty day simple moving average of $31.32 and a two-hundred day simple moving average of $30.50. Spirit AeroSystems has a 12 month low of $21.14 and a 12 month high of $38.55.

Spirit AeroSystems (NYSE:SPR – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The aerospace company reported ($1.69) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($1.38). Spirit AeroSystems had a negative net margin of 14.64% and a negative return on equity of 365.67%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the business earned $0.03 earnings per share. Spirit AeroSystems’s revenue was up 21.8% compared to the same quarter last year. Analysts predict that Spirit AeroSystems will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

A number of large investors have recently made changes to their positions in SPR. Estabrook Capital Management grew its stake in shares of Spirit AeroSystems by 319.6% during the 4th quarter. Estabrook Capital Management now owns 965 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 735 shares during the period. Money Concepts Capital Corp grew its stake in shares of Spirit AeroSystems by 1,076.9% during the 4th quarter. Money Concepts Capital Corp now owns 1,224 shares of the aerospace company’s stock valued at $36,000 after purchasing an additional 1,120 shares during the period. Signaturefd LLC lifted its position in shares of Spirit AeroSystems by 39.6% during the 4th quarter. Signaturefd LLC now owns 1,637 shares of the aerospace company’s stock valued at $48,000 after buying an additional 464 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Spirit AeroSystems during the 4th quarter valued at about $48,000. Finally, Manchester Capital Management LLC purchased a new position in shares of Spirit AeroSystems during the 1st quarter valued at about $61,000. 85.82% of the stock is currently owned by institutional investors.

About Spirit AeroSystems

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Spirit AeroSystems Holdings, Inc engages in the design and manufacture of aero structures for commercial and defense aircraft. It operates through the following segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment designs and manufactures forward, mid, and rear fuselage sections which related to floor beams, nacelles, struts and pylons, horizontal and vertical stabilizers, flaps and slats and wing structures.