Royal Bank of Canada Increases Spirit AeroSystems (NYSE:SPR) Price Target to $35.00

Spirit AeroSystems (NYSE:SPR) had its price objective boosted by research analysts at Royal Bank of Canada from $33.00 to $35.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the aerospace company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 13.71% from the company’s previous close.

SPR has been the topic of several other reports. Citigroup began coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They issued a “buy” rating and a $39.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Stifel Nicolaus upped their price target on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, March 20th. Truist Financial increased their price target on Spirit AeroSystems from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Finally, Morgan Stanley dropped their price objective on Spirit AeroSystems from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.83.

Spirit AeroSystems Trading Down 0.4 %

Spirit AeroSystems stock opened at $30.78 on Wednesday. The company has a market capitalization of $3.57 billion, a PE ratio of -5.08, a P/E/G ratio of 25.80 and a beta of 1.79. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $36.34. The stock has a 50-day moving average price of $33.57 and a two-hundred day moving average price of $29.66.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) EPS for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.62 billion. The company’s revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the company earned ($1.69) EPS. As a group, analysts predict that Spirit AeroSystems will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SPR. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Spirit AeroSystems in the first quarter valued at about $25,000. Principal Securities Inc. purchased a new stake in Spirit AeroSystems during the fourth quarter worth about $26,000. Riverview Trust Co purchased a new stake in Spirit AeroSystems during the first quarter worth about $35,000. Allspring Global Investments Holdings LLC increased its holdings in Spirit AeroSystems by 148.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock worth $44,000 after buying an additional 724 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Spirit AeroSystems by 586.2% during the first quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock worth $70,000 after buying an additional 1,659 shares during the last quarter. 93.59% of the stock is owned by institutional investors.

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, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.