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

StockNews.com assumed coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report published on Wednesday. The firm issued a sell rating on the aerospace company’s stock.

A number of other research firms have also recently weighed in on SPR. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Spirit AeroSystems in a report on Monday, July 8th. Citigroup reiterated 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. Wolfe Research reissued a “peer perform” rating on shares of Spirit AeroSystems in a research note on Wednesday, July 10th. Stifel Nicolaus upped their price objective on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, Truist Financial boosted their target price on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Spirit AeroSystems presently has an average rating of “Hold” and an average price target of $35.54.

Spirit AeroSystems Price Performance

Shares of NYSE SPR opened at $32.66 on Wednesday. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -3.76 and a beta of 1.85. The firm’s 50 day simple moving average is $33.34 and its 200-day simple moving average is $32.94. Spirit AeroSystems has a 12 month low of $20.98 and a 12 month high of $37.08.

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 company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.57 billion. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.46) EPS. Analysts anticipate that Spirit AeroSystems will post -4.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Spirit AeroSystems in the 1st quarter valued at $25,000. Byrne Asset Management LLC acquired a new position in shares of Spirit AeroSystems during the 2nd quarter valued at about $30,000. Waldron Private Wealth LLC purchased a new stake in shares of Spirit AeroSystems in the third quarter valued at about $32,000. Riverview Trust Co acquired a new stake in Spirit AeroSystems during the first quarter worth about $35,000. Finally, Allspring Global Investments Holdings LLC raised its stake in 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 worth $44,000 after purchasing an additional 724 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.