Spirit AeroSystems (NYSE:SPR) Coverage Initiated at StockNews.com

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

Several other research firms also recently weighed in on SPR. Baird R W downgraded Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Truist Financial raised their price objective on Spirit AeroSystems from $30.00 to $35.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Stifel Nicolaus upped their target price on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the stock a “hold” rating in a report on Monday, July 8th. Barclays reissued an “equal weight” rating and issued a $37.00 price target (down from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. Finally, Citigroup reaffirmed a “neutral” rating and set a $37.25 price objective (down previously from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.54.

Spirit AeroSystems Stock Performance

Spirit AeroSystems stock opened at $31.65 on Wednesday. The company’s fifty day moving average price is $33.25 and its 200 day moving average price is $32.93. The stock has a market capitalization of $3.69 billion, a P/E ratio of -3.08 and a beta of 1.85. Spirit AeroSystems has a 1 year low of $20.98 and a 1 year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last released 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 firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the company earned ($1.46) earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts predict that Spirit AeroSystems will post -4.67 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in Spirit AeroSystems by 180,792.9% in the third quarter. International Assets Investment Management LLC now owns 25,325 shares of the aerospace company’s stock valued at $779,000 after purchasing an additional 25,311 shares during the period. Waldron Private Wealth LLC acquired a new stake in shares of Spirit AeroSystems during the 3rd quarter worth about $32,000. Jade Capital Advisors LLC raised its holdings in Spirit AeroSystems by 6.6% in the 3rd quarter. Jade Capital Advisors LLC now owns 162,560 shares of the aerospace company’s stock valued at $5,285,000 after buying an additional 10,000 shares during the period. Blue Trust Inc. lifted its position in Spirit AeroSystems by 27.7% in the third quarter. Blue Trust Inc. now owns 9,125 shares of the aerospace company’s stock valued at $300,000 after buying an additional 1,979 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Spirit AeroSystems by 17.7% in the third quarter. Inspire Investing LLC now owns 12,582 shares of the aerospace company’s stock valued at $409,000 after buying an additional 1,893 shares during the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

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.