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

StockNews.com initiated coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research note published on Thursday morning. The firm 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 research report on Thursday, June 20th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $37.25 target price on shares of Spirit AeroSystems in a report on Tuesday, August 20th. UBS Group lifted their price target on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the company a neutral rating in a report on Monday, July 1st. Wolfe Research reaffirmed a peer perform rating on shares of Spirit AeroSystems in a research note on Wednesday, July 10th. Finally, Susquehanna reaffirmed a neutral rating and set a $37.00 price objective (down previously from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $35.38.

Spirit AeroSystems Stock Performance

Shares of Spirit AeroSystems stock opened at $32.86 on Thursday. The firm has a market cap of $3.83 billion, a P/E ratio of -3.78 and a beta of 1.85. The firm’s 50-day simple moving average is $34.62 and its 200-day simple moving average is $33.05. Spirit AeroSystems has a twelve month low of $14.65 and a twelve month high of $37.08.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Monday, August 5th. The aerospace company reported ($2.73) EPS for the quarter, missing analysts’ consensus estimates 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 company posted ($1.46) EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Spirit AeroSystems will post -4.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in shares of Spirit AeroSystems during the second quarter valued at $924,000. Quarry LP lifted its position in Spirit AeroSystems by 49.0% during the 2nd quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after purchasing an additional 751 shares during the period. Creative Planning lifted its position in Spirit AeroSystems by 41.0% during the 2nd quarter. Creative Planning now owns 99,014 shares of the aerospace company’s stock valued at $3,255,000 after purchasing an additional 28,775 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Spirit AeroSystems by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company’s stock valued at $723,000 after purchasing an additional 332 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of Spirit AeroSystems during the 2nd quarter worth approximately $348,000. 93.59% of the stock is currently owned by institutional investors.

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.