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 released on Saturday morning. The firm issued a sell rating on the aerospace company’s stock.

A number of other research firms have also issued reports on SPR. Truist Financial increased their target price on Spirit AeroSystems from $30.00 to $35.00 and gave the company a hold rating in a research note on Wednesday, July 17th. Citigroup restated 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. JPMorgan Chase & Co. restated a neutral rating and set a $37.00 price objective (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Monday, July 8th. Robert W. Baird restated a neutral rating and set a $37.25 price objective (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Friday, July 12th. Finally, Sanford C. Bernstein restated a market perform rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $35.38.

Spirit AeroSystems Stock Performance

SPR stock opened at $33.47 on Friday. Spirit AeroSystems has a 1 year low of $14.89 and a 1 year high of $37.08. The firm has a market cap of $3.90 billion, a P/E ratio of -3.85 and a beta of 1.85. The stock has a 50-day simple moving average of $34.41 and a 200-day simple moving average of $33.21.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Monday, August 5th. The aerospace company reported ($2.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. During the same period in the prior year, the business posted ($1.46) EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities research analysts predict that Spirit AeroSystems will post -4.21 EPS for the current year.

Institutional Trading of Spirit AeroSystems

Hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Spirit AeroSystems in the 1st quarter worth approximately $25,000. Principal Securities Inc. acquired a new position in Spirit AeroSystems during the 4th quarter worth $26,000. Byrne Asset Management LLC acquired a new position in Spirit AeroSystems during the 2nd quarter worth $30,000. Riverview Trust Co acquired a new position in Spirit AeroSystems during the 1st quarter worth $35,000. Finally, Allspring Global Investments Holdings LLC boosted its position in 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 acquiring an additional 724 shares during the period. Institutional investors own 93.59% of the company’s stock.

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.