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

StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report released on Sunday. The brokerage set a “sell” rating on the aerospace company’s stock.

Separately, TD Cowen raised Spirit AeroSystems to a “strong-buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Spirit AeroSystems presently has an average rating of “Hold” and an average target price of $35.67.

Spirit AeroSystems Price Performance

NYSE SPR opened at $33.84 on Friday. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of -2.72 and a beta of 1.81. The business’s fifty day moving average is $32.89 and its 200-day moving average is $33.33. Spirit AeroSystems has a one year low of $25.16 and a one year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Research analysts expect that Spirit AeroSystems will post -11.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC bought a new position in shares of Spirit AeroSystems in the third quarter valued at approximately $32,000. Quest Partners LLC purchased a new stake in Spirit AeroSystems in the 3rd quarter worth approximately $49,000. Quarry LP boosted its holdings in Spirit AeroSystems by 49.0% in the 2nd quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after purchasing an additional 751 shares during the period. KBC Group NV grew its position 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 purchasing an additional 771 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Spirit AeroSystems in the second quarter worth $207,000. 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.