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

Equities research analysts at StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report issued to clients and investors on Friday. 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 research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.67.

Spirit AeroSystems Trading Down 1.4 %

Spirit AeroSystems stock opened at $33.07 on Friday. The firm has a market capitalization of $3.87 billion, a P/E ratio of -2.66 and a beta of 1.82. Spirit AeroSystems has a twelve month low of $25.16 and a twelve month high of $37.08. The stock’s fifty day simple moving average is $32.49 and its 200-day simple moving average is $33.25.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.83 billion. Sell-side analysts predict that Spirit AeroSystems will post -12.64 earnings per share for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

Institutional investors have recently added to or reduced their stakes in the stock. Earnest Partners LLC increased its holdings in shares of Spirit AeroSystems by 2.6% in the second quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company’s stock valued at $134,644,000 after purchasing an additional 105,350 shares during the period. National Bank of Canada FI increased its stake 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 valued at $81,275,000 after buying an additional 2,438,974 shares during the period. Alpine Associates Management Inc. purchased a new position in Spirit AeroSystems during the 3rd quarter worth $77,296,000. Sei Investments Co. lifted its stake in shares of Spirit AeroSystems by 5.5% in the 2nd quarter. Sei Investments Co. now owns 1,686,945 shares of the aerospace company’s stock worth $55,450,000 after acquiring an additional 88,608 shares during the period. Finally, Appian Way Asset Management LP purchased a new stake in shares of Spirit AeroSystems in the second quarter valued at about $39,969,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

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.