Spirit AeroSystems (NYSE:SPR) Research Coverage Started at StockNews.com

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

SPR has been the topic of several other reports. Royal Bank of Canada lifted their target price on Spirit AeroSystems from $33.00 to $35.00 and gave the stock a sector perform rating in a report on Wednesday, May 8th. The Goldman Sachs Group upped their price objective on Spirit AeroSystems from $26.00 to $31.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Barclays reissued an equal weight rating and issued a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 3rd. Robert W. Baird reaffirmed a neutral rating and set a $37.25 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Friday, July 12th. Finally, Stifel Nicolaus lifted their price objective on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the stock a hold rating in a research note on Monday, July 8th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $33.60.

Spirit AeroSystems Trading Up 1.4 %

NYSE:SPR opened at $34.70 on Monday. The stock has a 50-day moving average price of $33.54 and a 200 day moving average price of $32.35. Spirit AeroSystems has a 12-month low of $14.65 and a 12-month high of $37.08. The stock has a market capitalization of $4.04 billion, a P/E ratio of -3.99 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Monday, August 5th. The aerospace company reported ($2.73) EPS for the quarter, missing the consensus estimate of ($0.98) by ($1.75). The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.57 billion. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.46) earnings per share. On average, research analysts predict that Spirit AeroSystems will post -4.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Pentwater Capital Management LP increased its holdings in shares of Spirit AeroSystems by 18,132.0% in the 2nd quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock valued at $296,356,000 after acquiring an additional 9,066,000 shares during the period. Steadfast Capital Management LP raised its holdings in Spirit AeroSystems by 1,274.6% in 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. Norges Bank purchased a new stake in shares of Spirit AeroSystems during the fourth quarter valued at about $62,432,000. Balyasny Asset Management L.P. boosted its holdings in shares of Spirit AeroSystems by 495.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,737,893 shares of the aerospace company’s stock valued at $55,230,000 after buying an additional 1,445,994 shares in the last quarter. Finally, Appian Way Asset Management LP purchased a new position in shares of Spirit AeroSystems in the 2nd quarter worth approximately $39,969,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

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.