Spirit AeroSystems (NYSE:SPR) Now Covered by StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the aerospace company’s stock.

SPR has been the topic of a number of other research reports. Truist Financial boosted their price objective on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Royal Bank of Canada restated a “sector perform” rating and set a $37.25 price objective on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. Stifel Nicolaus increased their target price on Spirit AeroSystems from $34.00 to $37.25 and gave the company a “hold” rating in a research note on Monday, July 8th. Wolfe Research restated a “peer perform” rating on shares of Spirit AeroSystems in a research note on Wednesday, July 10th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Spirit AeroSystems in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Spirit AeroSystems has a consensus rating of “Hold” and a consensus price target of $34.65.

Spirit AeroSystems Stock Performance

SPR stock opened at $34.93 on Wednesday. The stock has a 50-day simple moving average of $34.48 and a 200-day simple moving average of $32.86. The firm has a market cap of $4.07 billion, a P/E ratio of -4.02 and a beta of 1.84. Spirit AeroSystems has a 1 year low of $14.65 and a 1 year high of $37.08.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPR. Seven Eight Capital LP bought a new stake in Spirit AeroSystems in the fourth quarter valued at $5,694,000. Vanguard Group Inc. lifted its position 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 valued at $395,128,000 after purchasing an additional 109,632 shares during the last quarter. Norges Bank acquired a new position in Spirit AeroSystems during the 4th quarter valued at about $62,432,000. Boulder Hill Capital Management LP bought a new position in Spirit AeroSystems in the 4th quarter worth about $791,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Spirit AeroSystems by 148.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after buying an additional 724 shares during the last quarter. Institutional investors and hedge funds 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.