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

Stock analysts at StockNews.com began coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report issued on Saturday. 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 target price on shares of Spirit AeroSystems in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.67.

Spirit AeroSystems Trading Up 1.6 %

SPR stock opened at $30.70 on Friday. The firm has a market cap of $3.58 billion, a PE ratio of -2.47 and a beta of 1.84. The stock has a 50-day moving average price of $32.30 and a 200-day moving average price of $32.77. Spirit AeroSystems has a 1-year low of $24.11 and a 1-year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results 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 analyst estimates of $1.83 billion. On average, analysts forecast that Spirit AeroSystems will post -12.76 earnings per share for the current year.

Institutional Trading of Spirit AeroSystems

Several institutional investors and hedge funds have recently modified their holdings of SPR. The Manufacturers Life Insurance Company grew its holdings in Spirit AeroSystems by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company’s stock worth $723,000 after buying an additional 332 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in Spirit AeroSystems by 1.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 35,466 shares of the aerospace company’s stock worth $1,166,000 after acquiring an additional 500 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Spirit AeroSystems by 6.4% in the 2nd quarter. Inspire Investing LLC now owns 10,689 shares of the aerospace company’s stock worth $351,000 after acquiring an additional 643 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Spirit AeroSystems by 148.7% in the first 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. Finally, Arizona State Retirement System lifted its position in shares of Spirit AeroSystems by 2.3% during the second quarter. Arizona State Retirement System now owns 32,537 shares of the aerospace company’s stock valued at $1,069,000 after purchasing an additional 724 shares in 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.