Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $22.97, but opened at $21.17. Spirit AeroSystems shares last traded at $19.92, with a volume of 2,323,623 shares trading hands.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on SPR shares. Susquehanna cut their price target on Spirit AeroSystems from $37.00 to $32.00 and set a “positive” rating on the stock in a report on Thursday, August 3rd. TD Cowen cut Spirit AeroSystems from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $38.00 to $28.00 in a research report on Thursday, May 4th. Bank of America dropped their price objective on Spirit AeroSystems from $22.00 to $18.00 and set an “underperform” rating on the stock in a research note on Friday. The Goldman Sachs Group lowered Spirit AeroSystems from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $45.00 to $30.00 in a research note on Wednesday, August 2nd. Finally, Sanford C. Bernstein reduced their target price on Spirit AeroSystems from $38.00 to $29.00 in a report on Thursday, May 4th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.38.
Get Our Latest Stock Analysis on SPR
Spirit AeroSystems Trading Up 2.9 %
Spirit AeroSystems (NYSE:SPR – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The aerospace company reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.67). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.31 billion. Spirit AeroSystems had a negative return on equity of 365.67% and a negative net margin of 15.91%. Spirit AeroSystems’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.21) EPS. As a group, analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -3.91 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Spirit AeroSystems by 6,821.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,591,729 shares of the aerospace company’s stock worth $134,538,000 after purchasing an additional 4,525,393 shares in the last quarter. FMR LLC boosted its stake in Spirit AeroSystems by 58.8% during the 1st quarter. FMR LLC now owns 8,240,685 shares of the aerospace company’s stock worth $284,551,000 after purchasing an additional 3,051,014 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new stake in Spirit AeroSystems during the 1st quarter worth $83,597,000. Wolf Hill Capital Management LP acquired a new position in shares of Spirit AeroSystems during the 1st quarter valued at about $78,680,000. Finally, Earnest Partners LLC boosted its position in shares of Spirit AeroSystems by 47.6% during the 2nd quarter. Earnest Partners LLC now owns 4,191,810 shares of the aerospace company’s stock valued at $122,359,000 after acquiring an additional 1,352,432 shares during the last quarter. Hedge funds and other institutional investors own 89.07% 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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