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

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

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

Spirit AeroSystems Stock Up 0.1 %

Shares of SPR stock opened at $34.25 on Friday. Spirit AeroSystems has a 12-month low of $25.16 and a 12-month high of $37.08. The firm has a fifty day moving average of $32.64 and a 200-day moving average of $33.32. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of -2.76 and a beta of 1.81.

Spirit AeroSystems (NYSE:SPR) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $1.83 billion. On average, equities analysts expect that Spirit AeroSystems will post -12.64 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. National Bank of Canada FI boosted its position in Spirit AeroSystems by 3,996.6% during the third 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 stake in Spirit AeroSystems during the 3rd quarter valued at about $77,296,000. Appian Way Asset Management LP bought a new position in Spirit AeroSystems during the 2nd quarter worth approximately $39,969,000. Bank of Montreal Can increased its stake in Spirit AeroSystems by 1,744.2% in the 3rd quarter. Bank of Montreal Can now owns 802,091 shares of the aerospace company’s stock worth $26,557,000 after purchasing an additional 758,599 shares during the period. Finally, ING Groep NV bought a new stake in Spirit AeroSystems in the third quarter valued at approximately $16,817,000. 93.59% of the stock is currently owned by 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.