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

StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research note issued to investors on Friday. The firm issued a sell rating on the aerospace company’s stock.

Several other equities analysts have also weighed in on the stock. Baird R W lowered shares of Spirit AeroSystems from a strong-buy rating to a hold rating in a research report on Friday, July 12th. Wolfe Research reaffirmed a peer perform rating on shares of Spirit AeroSystems in a report on Wednesday, July 10th. Citigroup reissued a neutral rating and set a $37.25 price objective (down from $39.00) on shares of Spirit AeroSystems in a report on Wednesday, July 3rd. Susquehanna restated a neutral rating and issued a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 17th. Finally, Truist Financial increased their price target on Spirit AeroSystems from $30.00 to $35.00 and gave the stock a hold rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $35.38.

Spirit AeroSystems Trading Down 1.3 %

Shares of Spirit AeroSystems stock opened at $33.27 on Friday. The stock has a fifty day simple moving average of $34.59 and a 200 day simple moving average of $33.24. Spirit AeroSystems has a 12-month low of $14.65 and a 12-month high of $37.08. The company has a market capitalization of $3.88 billion, a P/E ratio of -3.83 and a beta of 1.85.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Monday, August 5th. The aerospace company reported ($2.73) earnings per share 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 analysts’ expectations of $1.57 billion. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.46) EPS. On average, analysts predict that Spirit AeroSystems will post -4.21 EPS for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Seven Eight Capital LP bought a new stake in shares of Spirit AeroSystems during the 4th quarter worth $5,694,000. Vanguard Group Inc. raised its position in Spirit AeroSystems by 1.0% during the first 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 in the last quarter. Norges Bank bought a new stake in Spirit AeroSystems during the fourth quarter worth about $62,432,000. Boulder Hill Capital Management LP purchased a new position in shares of Spirit AeroSystems in the 4th quarter worth about $791,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of 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 valued at $44,000 after purchasing an additional 724 shares during the last quarter. 93.59% of the stock is owned by hedge funds and other 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.