Other analysts also recently issued research reports about the company. Royal Bank of Canada boosted their price objective on Spirit AeroSystems from $22.00 to $25.00 and gave the stock a sector perform rating in a report on Thursday, November 2nd. JPMorgan Chase & Co. reduced their target price on Spirit AeroSystems from $38.00 to $36.00 and set an overweight rating for the company in a report on Thursday, November 16th. Morgan Stanley decreased their target price on Spirit AeroSystems from $35.00 to $33.00 and set an equal weight rating for the company in a research report on Wednesday. Stifel Nicolaus assumed coverage on Spirit AeroSystems in a research report on Friday, December 1st. They set a hold rating and a $28.00 price target on the stock. Finally, Robert W. Baird raised Spirit AeroSystems from a neutral rating to an outperform rating and lifted their target price for the company from $30.00 to $36.00 in a research note on Thursday, November 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $30.22.
Spirit AeroSystems Stock Up 1.0 %
Spirit AeroSystems (NYSE:SPR – Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The aerospace company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.84). The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the business posted ($1.46) earnings per share. The company’s revenue was up 37.3% on a year-over-year basis. As a group, equities research analysts anticipate that Spirit AeroSystems will post 0.72 EPS for the current fiscal year.
Hedge Funds Weigh In On Spirit AeroSystems
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Securities Inc. acquired a new position in shares of Spirit AeroSystems in the 4th quarter worth approximately $26,000. Money Concepts Capital Corp grew its holdings in shares of Spirit AeroSystems by 1,076.9% during the fourth quarter. Money Concepts Capital Corp now owns 1,224 shares of the aerospace company’s stock worth $36,000 after purchasing an additional 1,120 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Spirit AeroSystems by 57.7% in the second quarter. Captrust Financial Advisors now owns 2,169 shares of the aerospace company’s stock valued at $64,000 after buying an additional 794 shares during the last quarter. Ronald Blue Trust Inc. lifted its position in Spirit AeroSystems by 531.1% during the 3rd quarter. Ronald Blue Trust Inc. now owns 4,601 shares of the aerospace company’s stock worth $74,000 after buying an additional 3,872 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Spirit AeroSystems by 116.0% during the 2nd quarter. Signaturefd LLC now owns 3,669 shares of the aerospace company’s stock worth $107,000 after acquiring an additional 1,970 shares during the last quarter. Institutional investors own 88.05% 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, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and fully functional and tested wing systems.
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