Spirit AeroSystems (NYSE:SPR) Coverage Initiated by Analysts at StockNews.com

by · The Markets Daily

Equities researchers at StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR – Get Free Report) in a report released on Thursday. The brokerage set a “sell” rating on the aerospace company’s stock.

Separately, TD Cowen raised shares of Spirit AeroSystems to a “strong-buy” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.67.

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Spirit AeroSystems Stock Up 0.3 %

Shares of Spirit AeroSystems stock opened at $33.98 on Thursday. The company has a market cap of $3.97 billion, a PE ratio of -2.74 and a beta of 1.82. Spirit AeroSystems has a 52 week low of $25.16 and a 52 week high of $37.08. The business has a 50 day moving average price of $32.35 and a 200-day moving average price of $33.10.

Spirit AeroSystems (NYSE:SPR – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.83 billion. As a group, research analysts anticipate that Spirit AeroSystems will post -12.64 EPS for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Several large investors have recently modified their holdings of the stock. Cerity Partners LLC grew its holdings in Spirit AeroSystems by 59.2% during the third quarter. Cerity Partners LLC now owns 119,111 shares of the aerospace company’s stock valued at $3,872,000 after purchasing an additional 44,282 shares during the period. Alpine Associates Management Inc. bought a new position in shares of Spirit AeroSystems during the 3rd quarter worth $77,296,000. International Assets Investment Management LLC increased its holdings in Spirit AeroSystems by 180,792.9% in the 3rd quarter. International Assets Investment Management LLC now owns 25,325 shares of the aerospace company’s stock worth $779,000 after acquiring an additional 25,311 shares during the last quarter. Earnest Partners LLC raised its stake in Spirit AeroSystems by 2.6% in the 2nd quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company’s stock valued at $134,644,000 after acquiring an additional 105,350 shares during the period. Finally, Sand Grove Capital Management LLP purchased a new stake in Spirit AeroSystems during the third quarter valued at about $14,099,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

About Spirit AeroSystems

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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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