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

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

Separately, TD Cowen raised shares of Spirit AeroSystems to a “strong-buy” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.67.

Spirit AeroSystems Price Performance

NYSE SPR opened at $33.07 on Friday. The company has a fifty day moving average of $32.49 and a two-hundred day moving average of $33.24. The company has a market capitalization of $3.87 billion, a PE ratio of -2.66 and a beta of 1.82. Spirit AeroSystems has a 1 year low of $25.16 and a 1 year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last announced its 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 company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.83 billion. On average, research analysts expect that Spirit AeroSystems will post -12.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC purchased a new position in shares of Spirit AeroSystems in the third quarter valued at $32,000. Quest Partners LLC acquired a new stake in Spirit AeroSystems in the 3rd quarter valued at about $49,000. Quarry LP increased its holdings in Spirit AeroSystems by 49.0% during the 2nd quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after acquiring an additional 751 shares in the last quarter. KBC Group NV raised its position in Spirit AeroSystems by 20.1% during the third quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock worth $150,000 after acquiring an additional 771 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Spirit AeroSystems in the second quarter valued at about $207,000. 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.