Spirit AeroSystems (NYSE:SPR) Receives New Coverage from Analysts at StockNews.com

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

SPR has been the topic of a number of other reports. UBS Group boosted their price objective on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the company a neutral rating in a report on Monday, July 1st. Barclays restated an equal weight rating and set a $37.00 price target (down previously from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Sanford C. Bernstein reissued a market perform rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. Benchmark restated a hold rating on shares of Spirit AeroSystems in a research note on Thursday, June 20th. Finally, Susquehanna reaffirmed a neutral rating and issued a $37.00 price target (down previously from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $34.73.

Spirit AeroSystems Trading Up 1.8 %

Shares of NYSE:SPR opened at $31.75 on Tuesday. The company has a market capitalization of $3.70 billion, a PE ratio of -3.65 and a beta of 1.85. Spirit AeroSystems has a 12-month low of $16.36 and a 12-month high of $37.08. The business’s fifty day simple moving average is $33.48 and its 200-day simple moving average is $33.02.

Spirit AeroSystems (NYSE:SPR) last announced its 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 business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the company earned ($1.46) EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts predict that Spirit AeroSystems will post -4.67 EPS for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Spirit AeroSystems by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock valued at $395,128,000 after acquiring an additional 109,632 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings 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 worth $44,000 after purchasing an additional 724 shares during the last quarter. Earnest Partners LLC grew its position in shares of Spirit AeroSystems by 2.6% in the second quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company’s stock valued at $134,644,000 after purchasing an additional 105,350 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Spirit AeroSystems by 30.9% in the first quarter. Principal Financial Group Inc. now owns 9,959 shares of the aerospace company’s stock valued at $359,000 after purchasing an additional 2,348 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Spirit AeroSystems during the first quarter worth approximately $5,078,000. 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.