Spirit AeroSystems (NYSE:SPR) Now Covered by StockNews.com

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

A number of other research firms also recently commented on SPR. Stifel Nicolaus boosted their target price on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the stock a hold rating in a report on Monday, July 8th. UBS Group increased their price objective on Spirit AeroSystems from $33.00 to $34.00 and gave the company a neutral rating in a research report on Monday, July 1st. Royal Bank of Canada restated a sector perform rating and issued a $37.25 target price on shares of Spirit AeroSystems in a report on Tuesday, August 20th. Robert W. Baird reaffirmed a neutral rating and set a $37.25 target price (up from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. reiterated a neutral rating and issued a $37.00 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Monday, July 8th. 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. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $35.38.

Spirit AeroSystems Price Performance

SPR opened at $32.87 on Friday. Spirit AeroSystems has a 1-year low of $14.65 and a 1-year high of $37.08. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -3.78 and a beta of 1.85. The business has a 50 day moving average price of $34.56 and a two-hundred day moving average price of $33.27.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results 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 company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.57 billion. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.46) earnings per share. Equities analysts expect that Spirit AeroSystems will post -4.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Spirit AeroSystems by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company’s stock valued at $723,000 after acquiring an additional 332 shares in the last quarter. MCF Advisors LLC increased its position in Spirit AeroSystems by 0.8% in the 1st quarter. MCF Advisors LLC now owns 41,228 shares of the aerospace company’s stock worth $1,487,000 after purchasing an additional 343 shares during the last quarter. Mystic Asset Management Inc. raised its stake in shares of Spirit AeroSystems by 0.7% during the 1st quarter. Mystic Asset Management Inc. now owns 52,847 shares of the aerospace company’s stock worth $1,906,000 after purchasing an additional 346 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Spirit AeroSystems by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 46,362 shares of the aerospace company’s stock valued at $1,473,000 after buying an additional 460 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in shares of Spirit AeroSystems by 1.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 35,466 shares of the aerospace company’s stock valued at $1,166,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds 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.