Spirit AeroSystems (NYSE:SPR) Price Target Cut to $37.00

Posted by on May 8th, 2023

Spirit AeroSystems (NYSE:SPR – Get Rating) had its target price lowered by Susquehanna from $44.00 to $37.00 in a report released on Thursday morning, The Fly reports.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada downgraded shares of Spirit AeroSystems from an outperform rating to a sector perform rating and lowered their target price for the company from $38.00 to $36.00 in a research note on Friday, February 3rd. JPMorgan Chase & Co. raised their price target on shares of Spirit AeroSystems from $40.00 to $44.00 and gave the stock an overweight rating in a report on Wednesday, February 8th. Barclays raised their price target on shares of Spirit AeroSystems from $42.00 to $50.00 and gave the stock an overweight rating in a report on Monday, February 13th. StockNews.com initiated coverage on shares of Spirit AeroSystems in a report on Thursday, March 16th. They issued a sell rating for the company. Finally, TD Cowen cut shares of Spirit AeroSystems from an outperform rating to a market perform rating and decreased their price target for the stock from $38.00 to $28.00 in a report on Thursday. Four research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $36.50.

Spirit AeroSystems Trading Down 0.3 %

NYSE SPR opened at $24.54 on Thursday. Spirit AeroSystems has a 52-week low of $21.14 and a 52-week high of $38.55. The firm’s 50 day moving average price is $31.71 and its 200-day moving average price is $30.51.

Spirit AeroSystems (NYSE:SPR – Get Rating) last announced its 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). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.52 billion. Spirit AeroSystems had a negative net margin of 14.64% and a negative return on equity of 365.67%. Spirit AeroSystems’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. As a group, research analysts expect that Spirit AeroSystems will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Spirit AeroSystems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Estabrook Capital Management grew its position in Spirit AeroSystems by 319.6% during the fourth quarter. Estabrook Capital Management now owns 965 shares of the aerospace company’s stock valued at $29,000 after buying an additional 735 shares during the period. Money Concepts Capital Corp grew its position in 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 valued at $36,000 after buying an additional 1,120 shares during the period. Signaturefd LLC grew its position in Spirit AeroSystems by 39.6% during the fourth quarter. Signaturefd LLC now owns 1,637 shares of the aerospace company’s stock valued at $48,000 after buying an additional 464 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Spirit AeroSystems during the fourth quarter valued at $48,000. Finally, Captrust Financial Advisors grew its position in Spirit AeroSystems by 57.7% during 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 period. Institutional investors and hedge funds own 85.82% of the company’s stock.

Spirit AeroSystems Company Profile

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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.

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