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

Stock analysts at StockNews.com began coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research note issued to investors on Thursday. The firm set a “sell” rating on the aerospace company’s stock.

Several other equities research analysts have also recently commented on SPR. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $37.00 target price (up from $36.00) on shares of Spirit AeroSystems in a research report on Monday, July 8th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Spirit AeroSystems in a research report on Monday, July 8th. Truist Financial increased their target price on Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Barclays restated an “equal weight” rating and set a $37.00 price target (down from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Finally, Benchmark reiterated a “hold” rating on shares of Spirit AeroSystems in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Spirit AeroSystems has a consensus rating of “Hold” and a consensus target price of $35.38.

Spirit AeroSystems Trading Down 2.5 %

SPR stock opened at $32.85 on Thursday. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -3.78 and a beta of 1.85. The firm’s 50-day moving average price is $34.62 and its two-hundred day moving average price is $33.03. Spirit AeroSystems has a 12-month low of $14.65 and a 12-month high of $37.08.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.57 billion. Spirit AeroSystems’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.46) earnings per share. Equities analysts predict that Spirit AeroSystems will post -4.21 EPS for the current year.

Institutional Trading of Spirit AeroSystems

Several institutional investors have recently added to or reduced their stakes in SPR. Victory Capital Management Inc. lifted its holdings in shares of Spirit AeroSystems by 35.2% during the fourth quarter. Victory Capital Management Inc. now owns 15,486 shares of the aerospace company’s stock valued at $492,000 after purchasing an additional 4,031 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Spirit AeroSystems by 129.5% during the 4th quarter. Natixis Advisors L.P. now owns 185,477 shares of the aerospace company’s stock valued at $5,894,000 after acquiring an additional 104,673 shares during the last quarter. M&T Bank Corp bought a new stake in shares of Spirit AeroSystems in the fourth quarter worth approximately $528,000. National Bank of Canada FI raised its holdings in shares of Spirit AeroSystems by 20.5% during the fourth quarter. National Bank of Canada FI now owns 22,192 shares of the aerospace company’s stock valued at $682,000 after purchasing an additional 3,779 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in Spirit AeroSystems during the fourth quarter valued at approximately $254,000. 93.59% of the stock is currently owned by hedge funds and other 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.