TD Cowen Upgrades Spirit AeroSystems (NYSE:SPR) to Strong-Buy

TD Cowen upgraded shares of Spirit AeroSystems (NYSE:SPR) to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

Separately, StockNews.com started coverage on Spirit AeroSystems in a research note on Wednesday. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Spirit AeroSystems presently has a consensus rating of “Hold” and a consensus price target of $35.67.

Spirit AeroSystems Price Performance

Shares of NYSE:SPR opened at $33.17 on Thursday. The firm has a market capitalization of $3.88 billion, a P/E ratio of -2.67 and a beta of 1.82. The business’s 50-day moving average is $32.12 and its 200 day moving average is $32.98. Spirit AeroSystems has a 1 year low of $25.16 and a 1 year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.83 billion. On average, analysts expect that Spirit AeroSystems will post -12.64 EPS for the current year.

Institutional Trading of Spirit AeroSystems

Several large investors have recently bought and sold shares of the business. Cerity Partners LLC boosted its stake in Spirit AeroSystems by 59.2% during the third quarter. Cerity Partners LLC now owns 119,111 shares of the aerospace company’s stock worth $3,872,000 after buying an additional 44,282 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in shares of Spirit AeroSystems during the 3rd quarter worth about $77,296,000. International Assets Investment Management LLC raised its holdings in Spirit AeroSystems by 180,792.9% in the 3rd quarter. International Assets Investment Management LLC now owns 25,325 shares of the aerospace company’s stock valued at $779,000 after buying an additional 25,311 shares during the period. Earnest Partners LLC boosted its stake in Spirit AeroSystems by 2.6% during the second quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company’s stock worth $134,644,000 after buying an additional 105,350 shares during the period. Finally, Sand Grove Capital Management LLP acquired a new stake in shares of Spirit AeroSystems during the third quarter valued at about $14,099,000. Hedge funds and other institutional investors 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.