Spirit AeroSystems (NYSE:SPR) Gets a Neutral Rating from Citigroup

Citigroup reaffirms neutral rating on shares Spirit AeroSystems (NYSE:SPR – Free Report) in a research note published on Wednesday morning, Benzinga reports. The brokerage now has a price objective of $37.25 for the airline company’s shares, down from its previous price objective of $39.00.

SPR was the subject of several other reports. StockNews.com lowered shares of Spirit AeroSystems from a “hold” to a “sell” rating in a report on Thursday, May 9. Susquehanna raised their price target on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the company a positive rating in a research note on Friday, April 12. Benchmark reissued a “hold” rating on shares of Spirit AeroSystems in a research report on Thursday, June 20. Royal Bank of Canada raised their price target on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 8. Finally, Stifel Nicolaus raised their price target on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, March 20. Two research analysts have rated the stock a “sell,” eleven have given a “hold” rating, and seven have given a “buy” rating. According to MarketBeat, the company currently has a consensus rating of “hold” and an average price target of $33.18.

See our latest analysis for Spirit AeroSystems

Spirit AeroSystems Price Performance

NYSE:SPR opened at $33.86 on Wednesday. Spirit AeroSystems has a one-year low of $14.65 and a one-year high of $36.34. The company has a 50-day moving average of $31.40 and a 200-day moving average of $31.23. The company has a market capitalization of $3.95 billion, a P/E ratio of -3.90 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR – Get Free Report) last announced its quarterly financial results on Tuesday, May 7. The aerospace company reported (3.93) EPS for the quarter, missing the consensus estimate of (0.44) by (3.49). The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.62 billion. The company’s revenue for the quarter grew 19.0% year-over-year. During the same period last year, the company earned (1.69) EPS. Sell-side analysts are predicting that Spirit AeroSystems will post -2.94 EPS for the current fiscal year.

Hedge funds rate Spirit AeroSystems

Institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Spirit AeroSystems in the first quarter worth $25,000. Principal Securities Inc. acquired a new position in shares of Spirit AeroSystems in the fourth quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in Spirit AeroSystems in the first quarter worth approximately $35,000. Allspring Global Investments Holdings LLC increased 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 worth $44,000 after acquiring an additional 724 shares during the period. Finally, Manchester Capital Management LLC increased its position in Spirit AeroSystems by 586.2% in the first quarter. Manchester Capital Management LLC now owns 1,942 shares of the airline company’s stock valued at $70,000 after acquiring an additional 1,659 shares during the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

About Spirit AeroSystems

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Spirit AeroSystems Holdings, Inc. is engaged in the design, engineering, manufacturing and marketing of commercial aircraft structures worldwide. It operates in three segments: Commercial, Defense & Space and Aftermarket. The Commercial segment offers forward, mid and aft fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slots, control surfaces, wing structures and wing systems.

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