Benchmark Reiterates “Hold” Rating for Spirit AeroSystems (NYSE:SPR)

Spirit AeroSystems (NYSE:SPR)‘s stock had its “hold” rating restated by equities research analysts at Benchmark in a research note issued to investors on Thursday, Marketbeat reports.

Other equities research analysts have also recently issued research reports about the stock. UBS Group dropped their target price on shares of Spirit AeroSystems from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. StockNews.com lowered shares of Spirit AeroSystems from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Susquehanna boosted their target price on Spirit AeroSystems from $33.00 to $40.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Royal Bank of Canada increased their price target on Spirit AeroSystems from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus lifted their price objective on Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.83.

Spirit AeroSystems Trading Up 2.2 %

NYSE SPR opened at $31.14 on Thursday. Spirit AeroSystems has a 1-year low of $14.65 and a 1-year high of $36.34. The stock’s 50 day moving average is $31.50 and its two-hundred day moving average is $30.91. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -3.58 and a beta of 1.80.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Tuesday, May 7th. 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 during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the company posted ($1.69) earnings per share. Spirit AeroSystems’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, analysts predict that Spirit AeroSystems will post -2.94 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SPR. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Spirit AeroSystems during the 1st quarter worth approximately $25,000. Principal Securities Inc. bought a new position in Spirit AeroSystems in the fourth quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in Spirit AeroSystems during the 1st quarter worth $35,000. Allspring Global Investments Holdings LLC raised its position in shares of Spirit AeroSystems by 148.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 724 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its stake in shares of Spirit AeroSystems by 586.2% in the 1st 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 period. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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.