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

StockNews.com assumed coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report issued on Sunday morning. The firm issued a sell rating on the aerospace company’s stock.

Other equities analysts have also recently issued reports about the company. UBS Group raised their target price on Spirit AeroSystems from $33.00 to $34.00 and gave the stock a neutral rating in a report on Monday, July 1st. Benchmark reaffirmed a hold rating on shares of Spirit AeroSystems in a research report on Thursday, June 20th. Royal Bank of Canada boosted their price objective on Spirit AeroSystems from $33.00 to $35.00 and gave the company a sector perform rating in a research note on Wednesday, May 8th. Robert W. Baird restated a neutral rating and set a $37.25 target price (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Friday, July 12th. Finally, Susquehanna reiterated a neutral rating and issued a $37.00 price target (down from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $33.60.

Spirit AeroSystems Stock Performance

SPR stock opened at $33.42 on Friday. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -3.85 and a beta of 1.84. The business’s 50-day moving average is $33.08 and its two-hundred day moving average is $32.09. Spirit AeroSystems has a fifty-two week low of $14.65 and a fifty-two week high of $37.08.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Monday, August 5th. The aerospace company reported ($2.73) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($1.75). The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.57 billion. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.46) EPS. Equities analysts predict that Spirit AeroSystems will post -3.93 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings 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 purchasing an additional 109,632 shares during the last quarter. Pentwater Capital Management LP grew its stake in shares of Spirit AeroSystems by 18,132.0% during the second quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock valued at $296,356,000 after buying an additional 9,066,000 shares during the last quarter. Steadfast Capital Management LP raised its holdings in shares of Spirit AeroSystems by 1,274.6% in the first quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after buying an additional 4,371,874 shares during the period. Maple Rock Capital Partners Inc. lifted its stake in shares of Spirit AeroSystems by 7.2% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,423,000 shares of the aerospace company’s stock worth $159,538,000 after acquiring an additional 296,000 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Spirit AeroSystems by 39.3% during the 4th quarter. Sei Investments Co. now owns 1,965,370 shares of the aerospace company’s stock valued at $62,459,000 after acquiring an additional 554,666 shares during the period. Hedge funds and other 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.