StockNews.com Initiates Coverage on Spirit AeroSystems (NYSE:SPR)

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

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.67.

Spirit AeroSystems Stock Performance

Shares of NYSE SPR opened at $31.84 on Friday. The business’s 50 day moving average price is $32.22 and its 200-day moving average price is $32.75. Spirit AeroSystems has a fifty-two week low of $24.80 and a fifty-two week high of $37.08. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -2.56 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last issued its 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 firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Sell-side analysts predict that Spirit AeroSystems will post -12.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Spirit AeroSystems by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock worth $395,128,000 after purchasing an additional 109,632 shares during the last quarter. International Assets Investment Management LLC raised its stake in Spirit AeroSystems by 180,792.9% in the third quarter. International Assets Investment Management LLC now owns 25,325 shares of the aerospace company’s stock valued at $779,000 after buying an additional 25,311 shares during the last quarter. Earnest Partners LLC raised its stake in Spirit AeroSystems by 2.6% in the second quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company’s stock valued at $134,644,000 after buying an additional 105,350 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Spirit AeroSystems in the second quarter worth about $924,000. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Spirit AeroSystems by 3.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 121,596 shares of the aerospace company’s stock worth $4,199,000 after acquiring an additional 3,859 shares during the last quarter. Hedge funds and other institutional investors 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.