Spirit AeroSystems (NYSE:SPR) Upgraded to “Strong-Buy” at TD Cowen

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

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

Spirit AeroSystems Stock Performance

Shares of Spirit AeroSystems stock opened at $33.17 on Thursday. Spirit AeroSystems has a one year low of $25.16 and a one year high of $37.08. The stock has a market cap of $3.88 billion, a P/E ratio of -2.67 and a beta of 1.82. The stock’s fifty day moving average is $32.12 and its 200 day moving average is $32.98.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in Spirit AeroSystems in the 3rd quarter worth about $217,000. National Bank of Canada FI grew its stake in Spirit AeroSystems by 3,996.6% in the third quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock worth $81,275,000 after purchasing an additional 2,438,974 shares in the last quarter. Wellington Management Group LLP increased its holdings in Spirit AeroSystems by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 451,728 shares of the aerospace company’s stock worth $14,686,000 after purchasing an additional 3,424 shares during the period. Sand Grove Capital Management LLP bought a new stake in Spirit AeroSystems during the 3rd quarter valued at $14,099,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Spirit AeroSystems in the 3rd quarter worth $293,000. 93.59% of the stock is currently owned by 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.