Susquehanna Increases Spirit AeroSystems (NYSE:SPR) Price Target to $40.00

Spirit AeroSystems (NYSE:SPR) had its price target upped by Susquehanna from $33.00 to $40.00 in a report released on Friday, Benzinga reports. The brokerage currently has a positive rating on the aerospace company’s stock.

Several other research analysts have also issued reports on the stock. Citigroup started coverage on shares of Spirit AeroSystems in a research note on Wednesday, January 17th. They set a buy rating and a $39.00 target price on the stock. TD Cowen raised Spirit AeroSystems from a market perform rating to an outperform rating and upped their price target for the stock from $27.00 to $35.00 in a research note on Thursday, February 8th. Truist Financial raised their price objective on Spirit AeroSystems from $26.00 to $30.00 and gave the company a hold rating in a research note on Wednesday, January 10th. StockNews.com raised Spirit AeroSystems from a sell rating to a hold rating in a research report on Wednesday, February 7th. Finally, KeyCorp assumed coverage on shares of Spirit AeroSystems in a research report on Wednesday, January 17th. They issued a sector weight rating for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Spirit AeroSystems presently has a consensus rating of Hold and a consensus price target of $31.33.

Spirit AeroSystems Stock Performance

SPR stock opened at $33.42 on Friday. The company has a market capitalization of $3.88 billion, a P/E ratio of -5.51, a PEG ratio of 13.84 and a beta of 1.77. The company has a fifty day moving average price of $32.42 and a 200-day moving average price of $27.96. Spirit AeroSystems has a 52-week low of $14.65 and a 52-week high of $36.34.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Spirit AeroSystems by 6,821.9% during the second 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 during the period. Maple Rock Capital Partners Inc. bought a new stake in shares of Spirit AeroSystems in the 1st quarter worth approximately $83,597,000. Wolf Hill Capital Management LP purchased a new position in shares of Spirit AeroSystems during the first quarter valued at approximately $78,680,000. Morgan Stanley raised its holdings in shares of Spirit AeroSystems by 108.4% during the third quarter. Morgan Stanley now owns 4,195,996 shares of the aerospace company’s stock valued at $67,723,000 after acquiring an additional 2,182,434 shares in the last quarter. Finally, Norges Bank purchased a new stake in Spirit AeroSystems in the fourth quarter worth $62,432,000. Hedge funds and other institutional investors own 93.59% 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, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.