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

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

SPR has been the topic of a number of other reports. Benchmark reiterated a hold rating on shares of Spirit AeroSystems in a report on Thursday, June 20th. Barclays reissued an equal weight rating and issued a $37.00 price target (down from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 3rd. Stifel Nicolaus raised their price objective on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the stock a hold rating in a report on Monday, July 8th. Citigroup reiterated a neutral rating and issued a $37.25 target price (down from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. Finally, Susquehanna restated a neutral rating and set a $37.00 price target (down previously from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Spirit AeroSystems currently has an average rating of Hold and a consensus price target of $33.60.

Spirit AeroSystems Price Performance

Shares of SPR stock opened at $33.42 on Friday. The firm has a 50-day moving average of $33.08 and a 200-day moving average of $32.09. Spirit AeroSystems has a one year low of $14.65 and a one year high of $37.08. The company has a market cap of $3.90 billion, a P/E ratio of -3.85 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data 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 business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the business posted ($1.46) EPS. The business’s revenue was up 9.3% on a year-over-year basis. As a group, research analysts expect that Spirit AeroSystems will post -3.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Spirit AeroSystems by 1.0% in the 1st 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 in the last quarter. Pentwater Capital Management LP increased its holdings 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 purchasing an additional 9,066,000 shares during the period. Steadfast Capital Management LP raised its position 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 buying an additional 4,371,874 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its stake in Spirit AeroSystems by 7.2% during the first quarter. Maple Rock Capital Partners Inc. now owns 4,423,000 shares of the aerospace company’s stock valued at $159,538,000 after buying an additional 296,000 shares during the period. Finally, Sei Investments Co. grew 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 worth $62,459,000 after buying an additional 554,666 shares in 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.