StockNews.com Begins Coverage on Spirit AeroSystems (NYSE:SPR)

by · The Cerbat Gem

StockNews.com began coverage on shares of Spirit AeroSystems (NYSE:SPR – Free Report) in a research note released on Sunday. The firm issued a sell rating on the aerospace company’s stock.

A number of other equities research analysts have also weighed in on the company. Sanford C. Bernstein restated a market perform rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. Royal Bank of Canada restated a sector perform rating and issued a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. Truist Financial increased their price objective on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the company a hold rating in a research note on Wednesday, July 17th. Robert W. Baird reissued a neutral rating and issued a $37.25 target price (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. Finally, Stifel Nicolaus upped their target price on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the company a hold rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $35.38.

Get Our Latest Research Report on Spirit AeroSystems

Spirit AeroSystems Trading Up 1.3 %

NYSE SPR opened at $32.92 on Friday. The stock has a market cap of $3.84 billion, a P/E ratio of -3.79 and a beta of 1.85. The company’s fifty day simple moving average is $34.11 and its 200-day simple moving average is $33.22. Spirit AeroSystems has a 52 week low of $15.45 and a 52 week high of $37.08.

Spirit AeroSystems (NYSE:SPR – Get Free Report) last issued its quarterly earnings data 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. Spirit AeroSystems’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.46) EPS. On average, research analysts expect that Spirit AeroSystems will post -5.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Seven Eight Capital LP acquired a new position in shares of Spirit AeroSystems during the fourth quarter worth approximately $5,694,000. Vanguard Group Inc. boosted its position in Spirit AeroSystems by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock worth $395,128,000 after acquiring an additional 109,632 shares during the period. Allspring Global Investments Holdings LLC boosted its position in 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 worth $44,000 after acquiring an additional 724 shares during the period. Jones Road Capital Management L.P. grew its stake in shares of Spirit AeroSystems by 63.6% in the fourth quarter. Jones Road Capital Management L.P. now owns 257,275 shares of the aerospace company’s stock worth $8,176,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Spirit AeroSystems by 39.3% during the fourth quarter. Sei Investments Co. now owns 1,965,370 shares of the aerospace company’s stock valued at $62,459,000 after purchasing an additional 554,666 shares during the period. Institutional investors and hedge funds own 93.59% of the company’s stock.

Spirit AeroSystems Company Profile

(Get Free Report)

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.

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