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

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

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. restated a neutral rating and set a $37.00 target price (up from $36.00) on shares of Spirit AeroSystems in a research report on Monday, July 8th. Benchmark restated a hold rating on shares of Spirit AeroSystems in a research report on Thursday, June 20th. The Goldman Sachs Group lifted their price objective on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Wolfe Research reaffirmed a peer perform rating on shares of Spirit AeroSystems in a report on Wednesday, July 10th. Finally, Susquehanna lifted their price objective on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the company a positive rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Spirit AeroSystems currently has an average rating of Hold and an average target price of $33.49.

Spirit AeroSystems Trading Up 0.2 %

NYSE:SPR opened at $34.56 on Thursday. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $36.34. The firm has a fifty day simple moving average of $31.67 and a 200-day simple moving average of $31.37. The company has a market capitalization of $4.03 billion, a P/E ratio of -3.98 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. Spirit AeroSystems’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.69) EPS. Equities analysts forecast that Spirit AeroSystems will post -2.99 EPS for the current year.

Institutional Trading of Spirit AeroSystems

A number of institutional investors and hedge funds have recently modified their holdings of SPR. Vanguard Group Inc. grew its stake in Spirit AeroSystems by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock valued at $395,128,000 after acquiring an additional 109,632 shares in the last quarter. Steadfast Capital Management LP grew its stake in Spirit AeroSystems by 1,274.6% during the 1st quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock valued at $170,066,000 after acquiring an additional 4,371,874 shares in the last quarter. Maple Rock Capital Partners Inc. grew its stake in Spirit AeroSystems by 7.2% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,423,000 shares of the aerospace company’s stock valued at $159,538,000 after acquiring an additional 296,000 shares in the last quarter. Sei Investments Co. grew its stake in Spirit AeroSystems by 39.3% during the 4th quarter. Sei Investments Co. now owns 1,965,370 shares of the aerospace company’s stock valued at $62,459,000 after acquiring an additional 554,666 shares in the last quarter. Finally, Norges Bank purchased a new stake in Spirit AeroSystems during the 4th quarter valued at about $62,432,000. Hedge funds and other institutional investors 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.