Spirit AeroSystems (NYSE:SPR) Stock Rating Upgraded by TD Cowen

Spirit AeroSystems (NYSE:SPR) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Separately, StockNews.com assumed coverage on shares of Spirit AeroSystems in a report on Wednesday. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.67.

Spirit AeroSystems Trading Up 0.3 %

SPR stock opened at $33.26 on Thursday. The stock’s 50 day simple moving average is $32.12 and its 200 day simple moving average is $32.98. 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 $3.89 billion, a PE ratio of -2.68 and a beta of 1.82.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.83 billion. On average, research analysts predict that Spirit AeroSystems will post -12.64 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Waldron Private Wealth LLC bought a new stake in Spirit AeroSystems during the third quarter valued at about $32,000. Quest Partners LLC purchased a new position in shares of Spirit AeroSystems during the 3rd quarter valued at about $49,000. Quarry LP grew its stake in shares of 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 acquiring an additional 751 shares during the period. KBC Group NV grew its stake in shares of Spirit AeroSystems by 20.1% during the 3rd quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock valued at $150,000 after acquiring an additional 771 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Spirit AeroSystems in the 2nd quarter worth approximately $207,000. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

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.