Spirit AeroSystems (NYSE:SPR) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research note issued to investors on Tuesday. The firm issued a sell rating on the aerospace company’s stock.

Separately, Royal Bank of Canada restated a “sector perform” rating and set a $37.25 price target on shares of Spirit AeroSystems in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.67.

Spirit AeroSystems Stock Performance

Shares of NYSE:SPR opened at $32.50 on Tuesday. Spirit AeroSystems has a 52 week low of $25.16 and a 52 week high of $37.08. The firm has a market cap of $3.80 billion, a PE ratio of -2.62 and a beta of 1.82. The firm’s fifty day moving average is $32.01 and its 200-day moving average is $32.89.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Sell-side analysts forecast that Spirit AeroSystems will post -12.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Byrne Asset Management LLC acquired a new stake in Spirit AeroSystems in the second quarter valued at approximately $30,000. Waldron Private Wealth LLC acquired a new stake in Spirit AeroSystems in the 3rd quarter valued at $32,000. Quest Partners LLC bought a new stake in Spirit AeroSystems during the 3rd quarter valued at $49,000. Quarry LP raised its holdings in Spirit AeroSystems by 49.0% during the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock worth $75,000 after buying an additional 751 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Spirit AeroSystems by 20.1% in the third quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock valued at $150,000 after buying an additional 771 shares in the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

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.