Spirit AeroSystems (NYSE:SPR) Earns Sell Rating from Analysts at StockNews.com

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

Several other research firms have also issued reports on SPR. Royal Bank of Canada reiterated a sector perform rating and issued a $37.25 target price on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. Sanford C. Bernstein reiterated a market perform rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. Citigroup reissued a neutral rating and set a $37.25 target price (down previously from $39.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. UBS Group lifted their price target on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the stock a neutral rating in a report on Monday, July 1st. Finally, Baird R W lowered Spirit AeroSystems from a strong-buy rating to a hold rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $35.38.

Spirit AeroSystems Stock Performance

NYSE:SPR opened at $33.22 on Friday. The firm has a 50-day simple moving average of $34.35 and a 200-day simple moving average of $33.19. Spirit AeroSystems has a one year low of $14.89 and a one year high of $37.08. The firm has a market cap of $3.87 billion, a P/E ratio of -3.82 and a beta of 1.85.

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

Hedge Funds Weigh In On Spirit AeroSystems

Institutional investors have recently bought and sold shares of the business. Pentwater Capital Management LP increased its stake in shares of Spirit AeroSystems by 18,132.0% in the second quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock worth $296,356,000 after acquiring an additional 9,066,000 shares during the period. Steadfast Capital Management LP grew its position in Spirit AeroSystems by 1,274.6% during the 1st 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 during the period. Norges Bank purchased a new position in shares of Spirit AeroSystems during the 4th quarter valued at about $62,432,000. Balyasny Asset Management L.P. lifted 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 during the period. Finally, Appian Way Asset Management LP purchased a new stake in shares of Spirit AeroSystems in the second quarter worth about $39,969,000. 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.