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 issued to investors on Saturday. The brokerage issued a sell rating on the aerospace company’s stock.

Several other research firms also recently weighed in on SPR. Baird R W downgraded shares of Spirit AeroSystems from a strong-buy rating to a hold rating in a research report on Friday, July 12th. Susquehanna reissued a neutral rating and issued a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 17th. The Goldman Sachs Group increased their price objective on Spirit AeroSystems from $26.00 to $31.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Robert W. Baird reaffirmed a neutral rating and set a $37.25 target price (up previously from $36.00) on shares of Spirit AeroSystems in a report on Friday, July 12th. Finally, Benchmark reiterated a hold rating on shares of Spirit AeroSystems in a report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $33.60.

Spirit AeroSystems Trading Up 0.2 %

Shares of SPR stock opened at $35.57 on Friday. Spirit AeroSystems has a 12-month low of $14.65 and a 12-month high of $36.34. The business’s fifty day simple moving average is $32.52 and its 200-day simple moving average is $31.69. The company has a market cap of $4.15 billion, a PE ratio of -4.09 and a beta of 1.84.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SPR. Vanguard Group Inc. increased its holdings in Spirit AeroSystems by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock worth $395,128,000 after acquiring an additional 109,632 shares in the last quarter. Steadfast Capital Management LP increased its stake in shares of Spirit AeroSystems by 1,274.6% during the first quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after purchasing an additional 4,371,874 shares in the last quarter. Maple Rock Capital Partners Inc. raised its position in shares of 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 worth $159,538,000 after purchasing an additional 296,000 shares during the last quarter. Sei Investments Co. lifted its stake in Spirit AeroSystems by 39.3% in the 4th quarter. Sei Investments Co. now owns 1,965,370 shares of the aerospace company’s stock valued at $62,459,000 after buying an additional 554,666 shares in the last quarter. Finally, Norges Bank acquired a new stake in Spirit AeroSystems in the 4th quarter worth about $62,432,000. 93.59% of the stock is owned by institutional investors and hedge funds.

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.