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

StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report report published on Wednesday morning. The brokerage issued a sell rating on the aerospace company’s stock.

Several other equities analysts also recently commented on SPR. Sanford C. Bernstein restated a “market perform” rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. Susquehanna restated a “neutral” rating and issued a $37.00 price target (down previously from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 17th. UBS Group boosted their price target on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. Barclays reaffirmed an “equal weight” rating and set a $37.00 price objective (down from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Finally, Truist Financial lifted their price objective on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Spirit AeroSystems has an average rating of “Hold” and an average target price of $35.54.

Spirit AeroSystems Price Performance

SPR opened at $31.44 on Wednesday. The company’s 50 day simple moving average is $33.17 and its two-hundred day simple moving average is $32.91. Spirit AeroSystems has a 1-year low of $20.98 and a 1-year high of $37.08. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of -3.62 and a beta of 1.85.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.83 billion. On average, equities analysts anticipate that Spirit AeroSystems will post -4.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Spirit AeroSystems by 8.8% in the fourth quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock valued at $344,649,000 after buying an additional 876,673 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Spirit AeroSystems in the first quarter valued at about $35,000. Brookstone Capital Management purchased a new stake in shares of Spirit AeroSystems in the first quarter valued at about $405,000. MCF Advisors LLC raised its holdings in shares of Spirit AeroSystems by 0.8% in the first quarter. MCF Advisors LLC now owns 41,228 shares of the aerospace company’s stock valued at $1,487,000 after buying an additional 343 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Spirit AeroSystems during the first quarter worth about $382,000. 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.