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

Equities research analysts at StockNews.com assumed coverage on shares of Spirit AeroSystems (NYSE:SPR) in a note issued to investors on Saturday. The firm set a “sell” rating on the aerospace company’s stock.

Other research analysts have also recently issued research reports about the stock. Benchmark restated a “hold” rating on shares of Spirit AeroSystems in a research note on Thursday, June 20th. Susquehanna reaffirmed a “neutral” rating and issued a $37.00 price target (down previously from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $37.25 price objective on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. UBS Group boosted their target price on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. Finally, Baird R W cut shares of Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.38.

Spirit AeroSystems Trading Up 1.0 %

Shares of SPR stock opened at $33.12 on Friday. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $37.08. The company has a market capitalization of $3.86 billion, a P/E ratio of -3.81 and a beta of 1.85. The stock has a 50 day moving average of $34.43 and a two-hundred day moving average of $33.23.

Spirit AeroSystems (NYSE:SPR) last issued 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 company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Spirit AeroSystems’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.46) earnings per share. Sell-side analysts predict that Spirit AeroSystems will post -4.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in Spirit AeroSystems in the 2nd quarter valued at $924,000. Quarry LP lifted its holdings in shares of Spirit AeroSystems by 49.0% in the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after purchasing an additional 751 shares in the last quarter. Creative Planning lifted its holdings in shares of Spirit AeroSystems by 41.0% in the second quarter. Creative Planning now owns 99,014 shares of the aerospace company’s stock valued at $3,255,000 after purchasing an additional 28,775 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Spirit AeroSystems by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company’s stock worth $723,000 after buying an additional 332 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Spirit AeroSystems during the second quarter worth about $348,000. 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.