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

Investment analysts at StockNews.com initiated coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report issued on Thursday. The brokerage set a “sell” rating on the aerospace company’s stock.

A number of other research analysts have also recently commented on SPR. UBS Group upped 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. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. Stifel Nicolaus increased their price objective on Spirit AeroSystems from $34.00 to $37.25 and gave the stock a “hold” rating in a research note on Monday, July 8th. Barclays reaffirmed an “equal weight” rating and set a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $37.00 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.49.

Spirit AeroSystems Trading Up 0.2 %

Shares of SPR opened at $34.56 on Thursday. The company’s fifty day simple moving average is $31.67 and its 200-day simple moving average is $31.38. The company has a market cap of $4.03 billion, a P/E ratio of -3.98 and a beta of 1.84. Spirit AeroSystems has a twelve month low of $14.65 and a twelve month high of $36.34.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the firm posted ($1.69) earnings per share. Spirit AeroSystems’s revenue was up 19.0% compared to the same quarter last year. Analysts predict that Spirit AeroSystems will post -2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steadfast Capital Management LP raised its stake 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 worth $170,066,000 after purchasing an additional 4,371,874 shares during the last quarter. Norges Bank purchased a new stake in shares of Spirit AeroSystems in the 4th quarter valued at $62,432,000. Balyasny Asset Management L.P. increased its stake in shares of Spirit AeroSystems by 495.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,737,893 shares of the aerospace company’s stock worth $55,230,000 after acquiring an additional 1,445,994 shares during the period. Vanguard Group Inc. raised its holdings in shares of Spirit AeroSystems by 8.8% during the fourth quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock worth $344,649,000 after purchasing an additional 876,673 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Spirit AeroSystems by 39.3% during the fourth quarter. Sei Investments Co. now owns 1,965,370 shares of the aerospace company’s stock valued at $62,459,000 after purchasing an additional 554,666 shares during the period. Hedge funds and other institutional investors own 93.59% of the company’s stock.

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.