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

Equities researchers at StockNews.com initiated coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the aerospace company’s stock.

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.67.

Spirit AeroSystems Stock Performance

SPR opened at $33.17 on Wednesday. The stock has a market capitalization of $3.88 billion, a P/E ratio of -2.67 and a beta of 1.82. Spirit AeroSystems has a one year low of $25.16 and a one year high of $37.08. The business’s 50-day simple moving average is $32.12 and its 200-day simple moving average is $32.98.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.83 billion. On average, equities research analysts forecast that Spirit AeroSystems will post -12.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SPR. The Manufacturers Life Insurance Company boosted its holdings in Spirit AeroSystems by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company’s stock valued at $723,000 after purchasing an additional 332 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of Spirit AeroSystems by 1.4% in the second quarter. Ensign Peak Advisors Inc now owns 35,466 shares of the aerospace company’s stock valued at $1,166,000 after buying an additional 500 shares in the last quarter. Inspire Investing LLC grew its holdings in Spirit AeroSystems by 6.4% during the second quarter. Inspire Investing LLC now owns 10,689 shares of the aerospace company’s stock worth $351,000 after acquiring an additional 643 shares during the period. Arizona State Retirement System raised its position in Spirit AeroSystems by 2.3% in the second quarter. Arizona State Retirement System now owns 32,537 shares of the aerospace company’s stock worth $1,069,000 after acquiring an additional 724 shares in the last quarter. Finally, Quarry LP lifted its holdings in Spirit AeroSystems by 49.0% in the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after acquiring an additional 751 shares during the period. 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.