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

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

Separately, Royal Bank of Canada reiterated a “sector perform” rating and issued a $37.25 price objective on shares of Spirit AeroSystems in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.67.

Spirit AeroSystems Price Performance

Spirit AeroSystems stock opened at $32.52 on Friday. The business has a 50 day simple moving average of $32.11 and a 200-day simple moving average of $32.77. Spirit AeroSystems has a 12 month low of $25.16 and a 12 month high of $37.08. The stock has a market capitalization of $3.80 billion, a PE ratio of -2.62 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.83 billion. As a group, equities research analysts anticipate that Spirit AeroSystems will post -12.76 EPS for the current year.

Institutional Trading of Spirit AeroSystems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPR. Pentwater Capital Management LP grew its stake in shares of Spirit AeroSystems by 18,132.0% during the 2nd quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock valued at $296,356,000 after buying an additional 9,066,000 shares during the period. National Bank of Canada FI boosted its holdings in Spirit AeroSystems by 3,996.6% in the third quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock valued at $81,275,000 after acquiring an additional 2,438,974 shares during the last quarter. Alpine Associates Management Inc. purchased a new stake in Spirit AeroSystems during the third quarter valued at about $77,296,000. Appian Way Asset Management LP acquired a new stake in Spirit AeroSystems during the second quarter worth about $39,969,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Spirit AeroSystems by 405.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,069,600 shares of the aerospace company’s stock worth $35,158,000 after purchasing an additional 858,162 shares during the period. 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.