Spirit AeroSystems (NYSE:SPR) Raised to Strong-Buy at TD Cowen

Spirit AeroSystems (NYSE:SPR) was upgraded by TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Separately, StockNews.com initiated coverage on Spirit AeroSystems in a research report on Wednesday. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.67.

Spirit AeroSystems Price Performance

Shares of SPR stock opened at $33.17 on Thursday. The firm has a 50-day moving average of $32.12 and a 200-day moving average of $32.98. Spirit AeroSystems has a one year low of $25.16 and a one year high of $37.08. The company has a market cap of $3.88 billion, a P/E ratio of -2.67 and a beta of 1.82.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing the consensus estimate 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. As a group, research analysts expect that Spirit AeroSystems will post -12.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Several large investors have recently modified their holdings of SPR. Pentwater Capital Management LP grew its holdings in shares of Spirit AeroSystems by 18,132.0% in the second quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock worth $296,356,000 after purchasing an additional 9,066,000 shares during the last quarter. Earnest Partners LLC boosted its position in Spirit AeroSystems by 2.6% during the 2nd quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company’s stock valued at $134,644,000 after buying an additional 105,350 shares during the period. National Bank of Canada FI grew its holdings in Spirit AeroSystems by 3,996.6% in the 3rd quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock worth $81,275,000 after acquiring an additional 2,438,974 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in shares of Spirit AeroSystems in the third quarter valued at about $77,296,000. Finally, Sei Investments Co. raised its stake in shares of Spirit AeroSystems by 5.5% during the second quarter. Sei Investments Co. now owns 1,686,945 shares of the aerospace company’s stock valued at $55,450,000 after acquiring an additional 88,608 shares during the last quarter. 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.