JPMorgan Chase & Co. Reiterates Neutral Rating for Spirit AeroSystems (NYSE:SPR)

JPMorgan Chase & Co. reissued their neutral rating on shares of Spirit AeroSystems (NYSE:SPR) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $37.00 price objective on the aerospace company’s stock, up from their prior price objective of $36.00.

Several other equities analysts have also recently issued reports on the company. Benchmark restated a hold rating on shares of Spirit AeroSystems in a research report on Thursday, June 20th. StockNews.com cut Spirit AeroSystems from a hold rating to a sell rating in a research note on Thursday, May 9th. Citigroup reaffirmed a neutral rating and set a $37.25 price target (down from $39.00) on shares of Spirit AeroSystems in a report on Wednesday, July 3rd. Stifel Nicolaus upped their price objective on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the stock a hold rating in a research report on Monday. Finally, Royal Bank of Canada lifted their target price on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the company a sector perform rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Spirit AeroSystems currently has a consensus rating of Hold and an average price target of $33.42.

Spirit AeroSystems Stock Down 0.4 %

SPR opened at $34.48 on Monday. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of -3.97 and a beta of 1.84. Spirit AeroSystems has a 52 week low of $14.65 and a 52 week high of $36.34. The business’s 50 day moving average is $31.63 and its two-hundred day moving average is $31.36.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the firm earned ($1.69) earnings per share. Spirit AeroSystems’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities analysts expect that Spirit AeroSystems will post -3 EPS for the current fiscal year.

Institutional Trading of Spirit AeroSystems

Large investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Spirit AeroSystems in the first quarter valued at $25,000. Principal Securities Inc. acquired a new stake in Spirit AeroSystems in the fourth quarter valued at $26,000. Riverview Trust Co acquired a new stake in Spirit AeroSystems in the first quarter valued at $35,000. Allspring Global Investments Holdings LLC grew its holdings in Spirit AeroSystems by 148.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 724 shares during the last quarter. Finally, Manchester Capital Management LLC grew its holdings in Spirit AeroSystems by 586.2% in the first quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock valued at $70,000 after purchasing an additional 1,659 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

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.