The Goldman Sachs Group Boosts Spirit AeroSystems (NYSE:SPR) Price Target to $31.00

Spirit AeroSystems (NYSE:SPR) had its price target upped by investment analysts at The Goldman Sachs Group from $26.00 to $31.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the aerospace company’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 6.54% from the stock’s current price.

Several other brokerages have also recently issued reports on SPR. StockNews.com raised Spirit AeroSystems from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Stifel Nicolaus lifted their target price on Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, March 20th. KeyCorp assumed coverage on Spirit AeroSystems in a research report on Wednesday, January 17th. They set a “sector weight” rating on the stock. TD Cowen raised Spirit AeroSystems from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $27.00 to $35.00 in a research report on Thursday, February 8th. Finally, Citigroup assumed coverage on Spirit AeroSystems in a research report on Wednesday, January 17th. They issued a “buy” rating and a $39.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.39.

Spirit AeroSystems Stock Performance

Shares of NYSE SPR traded down $0.24 during midday trading on Tuesday, hitting $33.17. 257,624 shares of the stock traded hands, compared to its average volume of 4,094,551. The company has a market cap of $3.85 billion, a PE ratio of -5.54, a P/E/G ratio of 13.84 and a beta of 1.77. Spirit AeroSystems has a one year low of $14.65 and a one year high of $36.34. The business has a 50 day moving average price of $32.42 and a two-hundred day moving average price of $27.96.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Tuesday, February 6th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.84). The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.74 billion. The firm’s revenue was up 37.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.46) earnings per share. As a group, equities research analysts forecast that Spirit AeroSystems will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

A number of institutional investors have recently added to or reduced their stakes in SPR. Price T Rowe Associates Inc. MD increased 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 acquiring an additional 4,525,393 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new position in Spirit AeroSystems in the 1st quarter worth about $83,597,000. Wolf Hill Capital Management LP bought a new position in Spirit AeroSystems in the 1st quarter worth about $78,680,000. Morgan Stanley increased its stake in Spirit AeroSystems by 108.4% in the 3rd quarter. Morgan Stanley now owns 4,195,996 shares of the aerospace company’s stock worth $67,723,000 after acquiring an additional 2,182,434 shares during the last quarter. Finally, Norges Bank bought a new position in Spirit AeroSystems in the 4th quarter worth about $62,432,000. 93.59% of the stock is currently owned by institutional investors.

Spirit AeroSystems Company Profile

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.