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

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

A number of other research analysts have also weighed in on SPR. Baird R W lowered Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Royal Bank of Canada restated a “sector perform” rating and set a $37.25 price target on shares of Spirit AeroSystems in a report on Tuesday, August 20th. Susquehanna reiterated a “neutral” rating and issued a $37.00 price target (down previously from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 17th. Robert W. Baird restated a “neutral” rating and set a $37.25 price objective (up from $36.00) on shares of Spirit AeroSystems in a research note on Friday, July 12th. Finally, Truist Financial lifted their target price on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.54.

Spirit AeroSystems Stock Up 0.9 %

Shares of NYSE:SPR traded up $0.29 during midday trading on Friday, reaching $31.15. The company’s stock had a trading volume of 4,403,055 shares, compared to its average volume of 3,055,380. The firm has a 50 day moving average of $32.61 and a 200-day moving average of $32.81. The firm has a market capitalization of $3.63 billion, a P/E ratio of -2.51 and a beta of 1.84. Spirit AeroSystems has a 12-month low of $23.61 and a 12-month high of $37.08.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data 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 analyst estimates of $1.83 billion. On average, research analysts predict that Spirit AeroSystems will post -9.91 EPS for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

A number of institutional investors and hedge funds have recently modified their holdings of SPR. Byrne Asset Management LLC bought a new stake in Spirit AeroSystems during the second quarter valued at approximately $30,000. Waldron Private Wealth LLC bought a new stake in shares of Spirit AeroSystems during the 3rd quarter valued at $32,000. Allspring Global Investments Holdings LLC increased its stake in shares of Spirit AeroSystems by 148.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 724 shares in the last quarter. Quest Partners LLC bought a new position in Spirit AeroSystems in the 3rd quarter worth $49,000. Finally, Quarry LP lifted its position in Spirit AeroSystems by 49.0% during the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after purchasing an additional 751 shares in the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

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.