StockNews.com Initiates Coverage on Spirit AeroSystems (NYSE:SPR)

StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research note released on Friday morning. The brokerage issued a sell rating on the aerospace company’s stock.

SPR has been the subject of a number of other research reports. Stifel Nicolaus lifted their price target on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the stock a hold rating in a research note on Monday, July 8th. Sanford C. Bernstein restated a market perform rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. Barclays reiterated an equal weight rating and issued a $37.00 price target (down from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. Robert W. Baird restated a neutral rating and set a $37.25 price objective (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Friday, July 12th. Finally, Susquehanna reaffirmed a neutral rating and set a $37.00 target price (down previously from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $35.38.

Spirit AeroSystems Price Performance

NYSE:SPR opened at $32.87 on Friday. The firm has a 50-day moving average of $34.56 and a two-hundred day moving average of $33.27. The stock has a market cap of $3.83 billion, a P/E ratio of -3.78 and a beta of 1.85. Spirit AeroSystems has a 1-year low of $14.65 and a 1-year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Monday, August 5th. The aerospace company reported ($2.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($1.75). The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the company earned ($1.46) earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts expect that Spirit AeroSystems will post -4.21 earnings per share for the current year.

Institutional Trading of Spirit AeroSystems

A number of large investors have recently modified their holdings of SPR. Harel Insurance Investments & Financial Services Ltd. bought a new position in Spirit AeroSystems in the 1st quarter worth about $25,000. Principal Securities Inc. acquired a new stake in Spirit AeroSystems in the 4th quarter valued at approximately $26,000. Byrne Asset Management LLC bought a new stake in Spirit AeroSystems during the 2nd quarter valued at $30,000. Riverview Trust Co acquired a new position in Spirit AeroSystems during the 1st quarter worth $35,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of 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 purchasing an additional 724 shares in 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.