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

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

Several other analysts have also commented on the stock. Truist Financial raised their price target on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. 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. Citigroup reaffirmed a “neutral” rating and issued a $37.25 price target (down previously from $39.00) on shares of Spirit AeroSystems in a report on Wednesday, July 3rd. Susquehanna reissued a “neutral” rating and issued a $37.00 price objective (down from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 17th. Finally, Baird R W downgraded Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.54.

Spirit AeroSystems Trading Down 1.6 %

NYSE SPR opened at $32.37 on Thursday. The stock has a 50-day simple moving average of $32.97 and a two-hundred day simple moving average of $32.86. Spirit AeroSystems has a fifty-two week low of $20.98 and a fifty-two week high of $37.08.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share (EPS) 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 the consensus estimate of $1.83 billion. On average, research analysts anticipate that Spirit AeroSystems will post -8.54 earnings per share for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

Several hedge funds and other institutional investors have recently modified their holdings of SPR. Pentwater Capital Management LP raised its holdings in 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 last quarter. Steadfast Capital Management LP increased its holdings in shares of 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 valued at $170,066,000 after purchasing an additional 4,371,874 shares during the last quarter. Appian Way Asset Management LP purchased a new position in Spirit AeroSystems during the second quarter worth approximately $39,969,000. Assenagon Asset Management S.A. boosted its stake in Spirit AeroSystems by 405.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,069,600 shares of the aerospace company’s stock worth $35,158,000 after buying an additional 858,162 shares during the last quarter. Finally, Forest Avenue Capital Management LP purchased a new stake in Spirit AeroSystems in the 2nd quarter valued at $16,231,000. 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.