Spirit AeroSystems (NYSE:SPR) Receives New Coverage from Analysts at StockNews.com

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

SPR has been the topic of several other reports. Barclays reissued an equal weight rating and issued a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Stifel Nicolaus upped their price target on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the company a hold rating in a report on Monday. The Goldman Sachs Group upped their price target on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Citigroup reaffirmed a neutral rating and issued a $37.25 price target (down from $39.00) on shares of Spirit AeroSystems in a report on Wednesday, July 3rd. Finally, Benchmark reaffirmed a hold rating on shares of Spirit AeroSystems in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $33.42.

Spirit AeroSystems Price Performance

NYSE SPR opened at $34.48 on Thursday. The stock’s fifty day moving average price is $31.63 and its 200 day moving average price is $31.36. Spirit AeroSystems has a 1 year low of $14.65 and a 1 year high of $36.34.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the firm posted ($1.69) earnings per share. Spirit AeroSystems’s revenue for the quarter was up 19.0% compared to the same quarter last year. Sell-side analysts forecast that Spirit AeroSystems will post -2.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Spirit AeroSystems in the 1st quarter valued at about $25,000. Principal Securities Inc. acquired a new stake in shares of Spirit AeroSystems during the 4th quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in shares of Spirit AeroSystems during the 1st quarter worth approximately $35,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Spirit AeroSystems by 148.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock worth $44,000 after buying an additional 724 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Spirit AeroSystems by 586.2% in the 1st quarter. Manchester Capital Management LLC now owns 1,942 shares of the aerospace company’s stock valued at $70,000 after purchasing an additional 1,659 shares during the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

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.