Spirit AeroSystems (NYSE: SPR) was upgraded from a “market perform” rating to an “outperform” rating by equity research analysts at Sanford C. Bernstein in a research note issued to investors on Wednesday, reports The Fly.
Several other equity analysts recently published reports on SPR as well. Susquehanna lowered her price target for Spirit AeroSystems from USD 60.00 to USD 54.00 and gave the stock a “positive” rating in a research note on Thursday, August 5th. Zacks Investment Research upgraded Spirit AeroSystems from a “sell” rating to a “hold” rating and set a price target of $ 47.00 for the stock in a research note on Thursday, July 29th. Cowen raised his price target for Spirit AeroSystems from $ 60.00 to $ 70.00 and valued the stock on Tuesday the 22nd. Bank of America upgraded Spirit AeroSystems from an “underperform” rating to a “buy” rating and set a price target of $ 50.00 on the stock in a research note on Friday, August 6th. Finally, Credit Suisse Group lowered its price target for Spirit AeroSystems from USD 62.00 to USD 58.00 and rated the share “Outperform” in a research note on Thursday, August 5th. Four investment analysts have given the stock a hold rating and twelve with a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $ 48.27.
NYSE SPR opened at $ 43.16 on Wednesday. The stock has a market cap of $ 4.55 billion, a P / E of -5.91, and a beta of 2.09. Spirit AeroSystems has a 52-week low of $ 17.60 and a 52-week high of $ 53.63. The company has a 50-day moving average price of $ 41.01 and a 200-day moving average price of $ 45.03. The company has a quick ratio of 1.62, a current ratio of 2.48, and debt of 6.34.
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Spirit AeroSystems (NYSE: SPR) last released its quarterly results on Tuesday, August 3rd. The aerospace company reported earnings per share ($ 0.31) for the quarter, beating Zacks’ consensus estimate ($ 0.70) by $ 0.39. The company had revenue of $ 1 billion for the quarter, compared to analyst expectations of $ 956.45 million. Spirit AeroSystems had a negative return on equity of 52.84% and a negative net margin of 21.15%. The quarterly sales of Spirit AeroSystems increased by 55.3% compared to the same quarter of the previous year. In the same quarter last year, the company posted ($ 2.28) EPS. Sell-side analysts expect Spirit AeroSystems to post -2.73 EPS for the current fiscal year.
Several institutional investors and hedge funds recently changed their holdings in SPR. Envestnet Asset Management Inc. added a new position in Spirit AeroSystems shares for $ 565,000 in the first quarter. Fifth Third Bancorp increased its stake in Spirit AeroSystems by 119.4% in the first quarter. Fifth Third Bancorp now owns 1,433 shares of the aerospace company valued at $ 70,000 after buying an additional 780 shares during the period. The Swiss National Bank increased its stake in Spirit AeroSystems by 0.9% in the first quarter. The Swiss National Bank now owns 241,400 shares in the aerospace company valued at $ 11,744,000 after purchasing an additional 2,200 shares during the reporting period. Cambridge Investment Research Advisors Inc. increased its stake in Spirit AeroSystems shares by 4.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,684 shares in the aerospace company valued at $ 860,000 after purchasing an additional 675 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Spirit AeroSystems by 147.3% in the first quarter. Principal Financial Group Inc. now owns 612,939 shares in the aerospace company valued at $ 29,820,000 after purchasing an additional 365,108 shares last quarter. 74.80% of the shares are currently owned by institutional investors.
Spirit AeroSystems company profile
Spirit AeroSystems Holdings, Inc. designs and manufactures aircraft structures for commercial and defense aircraft. It operates in the following segments: Fuselage Systems, Propulsion Systems, Wing Systems, and All Others. The torso systems segment develops, produces and markets front, middle and rear fuselage sections and systems.
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