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

StockNews.com initiated coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report issued on Saturday. The firm issued a sell rating on the aerospace company’s stock.

Other equities research analysts have also issued research reports about the stock. Susquehanna reiterated a neutral rating and set a $37.00 price objective (down previously from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 17th. Royal Bank of Canada reiterated a sector perform rating and issued a $37.25 price target on shares of Spirit AeroSystems in a report on Tuesday, August 20th. Citigroup restated a neutral rating and set a $37.25 price objective (down from $39.00) on shares of Spirit AeroSystems in a report on Wednesday, July 3rd. Barclays reiterated an equal weight rating and issued a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 3rd. Finally, Sanford C. Bernstein restated a market perform rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $35.38.

Spirit AeroSystems Price Performance

Shares of NYSE:SPR opened at $33.12 on Friday. The firm has a market capitalization of $3.86 billion, a PE ratio of -3.81 and a beta of 1.85. The business has a 50 day simple moving average of $34.43 and a two-hundred day simple moving average of $33.24. Spirit AeroSystems has a 1 year low of $14.65 and a 1 year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Monday, August 5th. The aerospace company reported ($2.73) EPS for the quarter, missing the consensus estimate of ($0.98) by ($1.75). The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the business earned ($1.46) earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts expect that Spirit AeroSystems will post -4.21 EPS for the current fiscal year.

Institutional Trading of Spirit AeroSystems

A number of institutional investors have recently made changes to their positions in the business. Pentwater Capital Management LP raised its stake in 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 valued at $296,356,000 after buying an additional 9,066,000 shares during the last quarter. Steadfast Capital Management LP boosted its stake in Spirit AeroSystems by 1,274.6% in the 1st quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after purchasing an additional 4,371,874 shares in the last quarter. Norges Bank purchased a new stake in Spirit AeroSystems during the 4th quarter worth approximately $62,432,000. Balyasny Asset Management L.P. increased its stake in Spirit AeroSystems by 495.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,737,893 shares of the aerospace company’s stock valued at $55,230,000 after purchasing an additional 1,445,994 shares in the last quarter. Finally, Appian Way Asset Management LP purchased a new position in shares of Spirit AeroSystems in the second quarter worth $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.