Spirit AeroSystems (NYSE:SPR) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report sent to investors on Sunday. The firm issued a sell rating on the aerospace company’s stock.

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $37.25 price objective on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.67.

Spirit AeroSystems Stock Performance

SPR opened at $32.34 on Friday. The business’s 50-day simple moving average is $32.12 and its 200 day simple moving average is $32.76. The firm has a market capitalization of $3.78 billion, a PE ratio of -2.60 and a beta of 1.84. Spirit AeroSystems has a 52-week low of $25.16 and a 52-week high of $37.08.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share (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, research analysts forecast that Spirit AeroSystems will post -12.76 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

A number of large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in Spirit AeroSystems during the third quarter worth approximately $217,000. National Bank of Canada FI grew 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 worth $81,275,000 after buying an additional 2,438,974 shares in the last quarter. Wellington Management Group LLP grew its position in Spirit AeroSystems by 0.8% during the third quarter. Wellington Management Group LLP now owns 451,728 shares of the aerospace company’s stock worth $14,686,000 after buying an additional 3,424 shares in the last quarter. Sand Grove Capital Management LLP acquired a new stake in Spirit AeroSystems during the third quarter worth approximately $14,099,000. Finally, Quadrature Capital Ltd acquired a new stake in Spirit AeroSystems during the third quarter worth approximately $293,000. Institutional investors and hedge funds 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.