Spirit AeroSystems (NYSE:SPR) Receives Market Perform Rating from Sanford C. Bernstein

Sanford C. Bernstein restated their market perform rating on shares of Spirit AeroSystems (NYSE:SPR) in a research report sent to investors on Monday, MarketBeat Ratings reports.

Several other analysts also recently issued reports on the company. Barclays restated an equal weight rating and issued a $37.00 price target (down from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. StockNews.com downgraded Spirit AeroSystems from a hold rating to a sell rating in a research report on Thursday, May 9th. Citigroup reiterated a neutral rating and set a $37.25 target price (down from $39.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Benchmark reiterated a hold rating on shares of Spirit AeroSystems in a research report on Thursday, June 20th. Finally, Susquehanna upped their target price on Spirit AeroSystems from $33.00 to $40.00 and gave the company a positive rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $33.42.

Spirit AeroSystems Trading Down 0.4 %

Shares of NYSE SPR opened at $34.48 on Monday. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $36.34. The stock has a 50 day moving average of $31.63 and a 200-day moving average of $31.36. The company has a market capitalization of $4.02 billion, a P/E ratio of -3.97 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.62 billion. Spirit AeroSystems’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.69) EPS. Analysts predict that Spirit AeroSystems will post -3 EPS for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Large investors have recently made changes to their positions in the stock. Seven Eight Capital LP bought a new stake in Spirit AeroSystems during the fourth quarter worth about $5,694,000. Norges Bank purchased a new position in shares of Spirit AeroSystems in the fourth quarter worth about $62,432,000. Vanguard Group Inc. increased its holdings in shares of Spirit AeroSystems by 0.5% in the third quarter. Vanguard Group Inc. now owns 9,968,180 shares of the aerospace company’s stock worth $160,886,000 after buying an additional 51,387 shares during the period. Blue Trust Inc. increased its holdings in shares of Spirit AeroSystems by 33.9% in the fourth quarter. Blue Trust Inc. now owns 6,163 shares of the aerospace company’s stock worth $196,000 after buying an additional 1,562 shares during the period. Finally, AQR Capital Management LLC purchased a new position in shares of Spirit AeroSystems in the third quarter worth about $6,748,000. 93.59% of the stock is 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.