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

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

SPR has been the subject of a number of other research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $37.25 price objective on shares of Spirit AeroSystems in a research report on Tuesday, August 20th. Citigroup restated 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. Baird R W downgraded Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Truist Financial raised their price objective on Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Finally, Barclays reiterated an “equal weight” rating and issued a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $34.73.

Spirit AeroSystems Stock Down 1.5 %

Shares of SPR stock opened at $31.73 on Tuesday. The stock has a market cap of $3.70 billion, a P/E ratio of -3.65 and a beta of 1.85. Spirit AeroSystems has a fifty-two week low of $20.98 and a fifty-two week high of $37.08. The business has a fifty day simple moving average of $33.38 and a 200-day simple moving average of $32.98.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results 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 firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the company earned ($1.46) EPS. Spirit AeroSystems’s revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts anticipate that Spirit AeroSystems will post -4.67 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 buying an additional 109,632 shares in the last quarter. Pentwater Capital Management LP grew its position in Spirit AeroSystems by 18,132.0% during the second quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock valued at $296,356,000 after purchasing an additional 9,066,000 shares in the last quarter. Steadfast Capital Management LP raised its holdings in shares of Spirit AeroSystems by 1,274.6% during the first quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after acquiring an additional 4,371,874 shares in the last quarter. Maple Rock Capital Partners Inc. increased its holdings in Spirit AeroSystems by 7.2% in the first quarter. Maple Rock Capital Partners Inc. now owns 4,423,000 shares of the aerospace company’s stock worth $159,538,000 after buying an additional 296,000 shares during the last quarter. Finally, Earnest Partners LLC grew its position 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 worth $134,644,000 after acquiring an additional 105,350 shares in the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

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.