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

StockNews.com began coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report sent to investors on Tuesday morning. The firm issued a sell rating on the aerospace company’s stock.

Several other equities analysts also recently weighed in on SPR. Barclays restated an equal weight rating and issued a $37.00 target price (down previously from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Sanford C. Bernstein restated a market perform rating on shares of Spirit AeroSystems in a report on Monday, July 8th. Susquehanna reaffirmed a neutral rating and set a $37.00 target price (down previously from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 17th. Robert W. Baird reissued a neutral rating and issued a $37.25 price target (up from $36.00) on shares of Spirit AeroSystems in a research note on Friday, July 12th. Finally, Benchmark reaffirmed a hold rating on shares of Spirit AeroSystems in a research note on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $33.72.

Spirit AeroSystems Stock Performance

Shares of NYSE SPR opened at $34.62 on Tuesday. The firm has a market cap of $4.04 billion, a PE ratio of -3.98 and a beta of 1.84. Spirit AeroSystems has a one year low of $14.65 and a one year high of $37.08. The firm has a fifty day moving average of $33.85 and a 200 day moving average of $32.60.

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. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.46) earnings per share. On average, equities analysts predict that Spirit AeroSystems will post -4.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Seven Eight Capital LP purchased a new stake in shares of Spirit AeroSystems in the 4th quarter valued at approximately $5,694,000. Vanguard Group Inc. lifted its stake 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 worth $395,128,000 after purchasing an additional 109,632 shares in the last quarter. Norges Bank purchased a new position in shares of Spirit AeroSystems during the fourth quarter worth $62,432,000. Boulder Hill Capital Management LP acquired a new stake in shares of Spirit AeroSystems in the fourth quarter valued at $791,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Spirit AeroSystems by 148.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after buying an additional 724 shares during the period. Institutional investors and hedge funds own 93.59% of the company’s stock.

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.