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

StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research note released on Friday morning. The firm issued a sell rating on the aerospace company’s stock.

Other equities analysts have also recently issued research reports about the stock. 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. Stifel Nicolaus increased their price objective on Spirit AeroSystems from $34.00 to $37.25 and gave the stock a hold rating in a report on Monday, July 8th. Wolfe Research reiterated a peer perform rating on shares of Spirit AeroSystems in a research report on Wednesday, July 10th. Barclays reaffirmed an equal weight 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 3rd. Finally, Susquehanna reissued a neutral rating and set a $37.00 price objective (down from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $35.38.

Spirit AeroSystems Trading Down 1.3 %

NYSE SPR opened at $33.27 on Friday. The firm has a market cap of $3.88 billion, a PE ratio of -3.83 and a beta of 1.85. Spirit AeroSystems has a 1-year low of $14.65 and a 1-year high of $37.08. The stock has a 50-day moving average of $34.59 and a 200-day moving average of $33.24.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SPR. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Spirit AeroSystems during the first quarter valued at $25,000. Principal Securities Inc. bought a new stake in Spirit AeroSystems during the 4th quarter valued at about $26,000. Byrne Asset Management LLC purchased a new position in Spirit AeroSystems in the second quarter worth about $30,000. Riverview Trust Co bought a new position in shares of Spirit AeroSystems in the first quarter worth approximately $35,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Spirit AeroSystems by 148.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 724 shares in the last quarter. 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.