StockNews.com Initiates Coverage on Spirit AeroSystems (NYSE:SPR)

StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report released on Friday. The firm set a “sell” rating on the aerospace company’s stock.

Other analysts have also issued reports about the company. Royal Bank of Canada reissued a “sector perform” rating and set a $37.25 target price on shares of Spirit AeroSystems in a report on Tuesday, February 11th. TD Cowen upgraded Spirit AeroSystems to a “strong-buy” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Spirit AeroSystems currently has an average rating of “Hold” and a consensus price target of $36.00.

Spirit AeroSystems Stock Performance

SPR opened at $34.89 on Friday. The firm has a market cap of $4.08 billion, a P/E ratio of -2.81 and a beta of 1.80. Spirit AeroSystems has a 52-week low of $28.32 and a 52-week high of $37.08. The business’s fifty day moving average is $34.11 and its 200-day moving average is $33.25.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Friday, February 28th. The aerospace company reported ($4.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.86) by ($2.36). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.94 billion. On average, research analysts predict that Spirit AeroSystems will post -11.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Large investors have recently bought and sold shares of the company. R Squared Ltd bought a new position in Spirit AeroSystems in the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new position in Spirit AeroSystems in the fourth quarter valued at about $32,000. Quest Partners LLC acquired a new stake in shares of Spirit AeroSystems in the third quarter valued at about $49,000. Headlands Technologies LLC acquired a new stake in shares of Spirit AeroSystems in the fourth quarter valued at about $67,000. Finally, Byrne Asset Management LLC increased its stake in shares of Spirit AeroSystems by 210.6% in the fourth quarter. Byrne Asset Management LLC now owns 2,050 shares of the aerospace company’s stock valued at $70,000 after buying an additional 1,390 shares during the period. 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.