Spirit AeroSystems (NYSE: SPR) The price target was lowered by analysts for equity research of the Credit Suisse Group in a report published on Thursday from USD 62.00 to USD 58.00, reports Benzinga. The company currently has an “outperform” rating on the aerospace company’s stock. Credit Suisse Group’s target price would indicate a potential price increase of 43.21% over the company’s last closing price.
Several other brokerage firms have also looked at SPR. Zacks Investment Research upgraded the shares of Spirit AeroSystems from a “sell” rating to a “hold” rating and set a price target of $ 47.00 for the stock in a research report on Thursday, July 29th Share fixed. Cowen raised his price target for Spirit AeroSystems shares from 60.00 US dollars to 70.00 US dollars and rated the company as “outperform” in a research report on Tuesday, June 22nd. Finally, Susquehanna lowered her price target for Spirit AeroSystems shares from USD 60.00 to USD 54.00 and rated the shares as “positive” in a research report on Thursday. Four research analysts for stocks have given the stock a hold rating and ten with a buy rating. The stock has an average Buy rating and a consensus price target of $ 48.14.
NYSE SPR opened at $ 40.50 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.68, and debt of 5.09. The company has a market capitalization of $ 4.27 billion, a price to earnings ratio of -4.79, and a beta of 2.10. The stock has a fifty-day moving average of $ 46.98. Spirit AeroSystems has a 52-week low of $ 17.26 and a 52-week high of $ 53.63.
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Spirit AeroSystems (NYSE: SPR) last released its quarterly results on Wednesday, August 4th. The aerospace company reported earnings per share (EPS) ($ 0.31) for the quarter, beating the consensus estimate of $ 0.70 by $ 0.39. The company had revenue of $ 1 billion for the quarter, compared to analyst estimates of $ 956.45 million. Spirit AeroSystems had a negative net margin of 27.23% and a negative return on equity of 64.00%. The company’s quarterly revenue increased 55.3% year over year. For the same period last year, the company posted earnings per share ($ 2.28). Sell-side analysts predict that Spirit AeroSystems will achieve earnings per share of -2.63 for the current year.
Several hedge funds and other institutional investors recently changed their positions in SPR. Alliancebernstein LP increased its stake in Spirit AeroSystems by 585.4% in the second quarter. Alliancebernstein LP now owns 3,284,079 shares in the aerospace company valued at $ 154,976,000 after purchasing an additional 2,804,919 shares last quarter. Amundi Asset Management US Inc. increased its stake in Spirit AeroSystems by 120.8% in the first quarter. Amundi Asset Management US Inc. now owns 2,729,865 shares in the aerospace company valued at $ 132,807,000 after purchasing an additional 1,493,791 shares in the last quarter. Norges Bank bought a new position in Spirit AeroSystems shares valued at approximately $ 57,030,000 in the fourth quarter. Amundi Pioneer Asset Management Inc. bought a new position in Spirit AeroSystems shares valued at approximately $ 48,319,000 in the fourth quarter. Finally, Artemis Investment Management LLP increased its stake in Spirit AeroSystems by 93.7% in the first quarter. Artemis Investment Management LLP now owns 2,441,942 shares in the aerospace company valued at $ 118,760,000 after purchasing an additional 1,181,170 shares in the most recent quarter. 75.61% of the shares are owned by institutional investors.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc. designs and manufactures commercial aircraft structures worldwide. It operates in three segments: fuselage systems, propulsion systems and wing systems. The Fuselage Systems segment develops, produces and markets front, middle and rear fuselage sections and systems primarily for aircraft manufacturers (OEMs); and other structural components of the hull, such as floor beams.
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