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

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

Other equities research analysts have also issued research reports about the stock. UBS Group lifted their target price on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the company a neutral rating in a research note on Monday, July 1st. Baird R W lowered shares of Spirit AeroSystems from a strong-buy rating to a hold rating in a research note on Friday, July 12th. Susquehanna reissued a neutral rating and set a $37.00 price target (down from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reissued a neutral rating and set a $37.00 price target (up from $36.00) on shares of Spirit AeroSystems in a research report on Monday, July 8th. Finally, Citigroup reissued a neutral rating and set a $37.25 price target (down from $39.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $35.38.

Spirit AeroSystems Trading Down 0.3 %

Shares of SPR opened at $32.82 on Friday. The firm’s 50-day moving average price is $34.06 and its 200-day moving average price is $33.22. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -3.78 and a beta of 1.85. Spirit AeroSystems has a 1-year low of $15.45 and a 1-year high of $37.08.

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 analysts’ consensus estimates of ($0.98) by ($1.75). The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.57 billion. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.46) earnings per share. On average, research analysts forecast that Spirit AeroSystems will post -5.57 EPS for the current fiscal year.

Institutional Trading of Spirit AeroSystems

A number of institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Spirit AeroSystems in the first quarter worth $25,000. Byrne Asset Management LLC bought a new position in Spirit AeroSystems in the second quarter valued at about $30,000. Riverview Trust Co purchased a new position in Spirit AeroSystems in the first quarter worth about $35,000. Allspring Global Investments Holdings LLC grew its stake in shares of Spirit AeroSystems by 148.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 724 shares during the period. Finally, Manchester Capital Management LLC increased its position in shares of Spirit AeroSystems by 586.2% during the 1st quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock valued at $70,000 after purchasing an additional 1,659 shares during the last quarter. 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.