Spirit AeroSystems (NYSE:SPR) Price Target Lowered to $33.00 at Morgan Stanley

Spirit AeroSystems (NYSE:SPRFree Report) had its price target cut by Morgan Stanley from $35.00 to $33.00 in a research report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

Several other brokerages also recently weighed in on SPR. Sanford C. Bernstein raised Spirit AeroSystems from a market perform rating to an outperform rating and raised their price target for the stock from $25.00 to $29.00 in a report on Monday, October 23rd. Truist Financial lifted their target price on Spirit AeroSystems from $26.00 to $30.00 and gave the stock a hold rating in a report on Wednesday, January 10th. Robert W. Baird raised Spirit AeroSystems from a neutral rating to an outperform rating and lifted their target price for the stock from $30.00 to $36.00 in a report on Thursday, November 30th. UBS Group initiated coverage on Spirit AeroSystems in a report on Tuesday, October 10th. They set a neutral rating and a $17.00 target price for the company. Finally, JPMorgan Chase & Co. decreased 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Spirit AeroSystems currently has a consensus rating of Hold and an average price target of $30.72.

Check Out Our Latest Report on Spirit AeroSystems

Spirit AeroSystems Stock Up 3.0 %

Shares of NYSE:SPR opened at $29.12 on Wednesday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -4.81, a price-to-earnings-growth ratio of 5.96 and a beta of 1.77. Spirit AeroSystems has a 52 week low of $14.65 and a 52 week high of $37.98. The firm has a 50 day moving average of $28.86 and a 200 day moving average of $24.14.

Spirit AeroSystems (NYSE:SPRGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The aerospace company reported $0.48 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.84). The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the company posted ($1.46) EPS. The company’s revenue was up 37.3% on a year-over-year basis. On average, sell-side analysts expect that Spirit AeroSystems will post 0.56 EPS for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new stake in shares of Spirit AeroSystems in the 4th quarter valued at approximately $26,000. Money Concepts Capital Corp grew its holdings in 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 worth $36,000 after acquiring an additional 1,120 shares in the last quarter. Captrust Financial Advisors grew its holdings in Spirit AeroSystems by 57.7% during the 2nd quarter. Captrust Financial Advisors now owns 2,169 shares of the aerospace company’s stock worth $64,000 after acquiring an additional 794 shares in the last quarter. Ronald Blue Trust Inc. grew its holdings 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 acquiring 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 in the last quarter. Institutional investors and hedge funds own 88.05% of the company’s stock.

Spirit AeroSystems Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Spirit AeroSystems (NYSE:SPR)

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