Spirit AeroSystems (NYSE:SPR) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report issued on Saturday. The firm issued a sell rating on the aerospace company’s stock.

Several other analysts have also weighed in on SPR. UBS Group upped their price objective on Spirit AeroSystems from $33.00 to $34.00 and gave the company a neutral rating in a report on Monday, July 1st. Baird R W lowered Spirit AeroSystems from a strong-buy rating to a hold rating in a report on Friday, July 12th. Susquehanna restated a neutral rating and issued a $37.00 price objective (down previously from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 17th. Barclays reaffirmed an equal weight rating and set a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating and set a $37.00 target price (up from $36.00) on shares of Spirit AeroSystems in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $35.38.

Spirit AeroSystems Stock Performance

Shares of SPR stock opened at $33.47 on Friday. The firm has a market capitalization of $3.90 billion, a PE ratio of -3.85 and a beta of 1.85. The stock has a fifty day moving average of $34.41 and a two-hundred day moving average of $33.21. Spirit AeroSystems has a 1 year low of $14.89 and a 1 year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Monday, August 5th. The aerospace company reported ($2.73) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($1.75). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.57 billion. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the business posted ($1.46) EPS. Equities research analysts predict that Spirit AeroSystems will post -4.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

Several hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in Spirit AeroSystems in the 2nd quarter worth about $924,000. Quarry LP raised its stake in shares of Spirit AeroSystems by 49.0% during the 2nd quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock worth $75,000 after purchasing an additional 751 shares in the last quarter. Creative Planning raised its stake in shares of Spirit AeroSystems by 41.0% during the 2nd quarter. Creative Planning now owns 99,014 shares of the aerospace company’s stock worth $3,255,000 after purchasing an additional 28,775 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Spirit AeroSystems by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company’s stock worth $723,000 after purchasing an additional 332 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of Spirit AeroSystems during the 2nd quarter worth about $348,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

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.