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

StockNews.com initiated coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research note issued on Monday. The brokerage set a “sell” rating on the aerospace company’s stock.

A number of other equities research analysts have also commented on SPR. Sanford C. Bernstein reissued a “market perform” rating on shares of Spirit AeroSystems in a research report on Monday, July 8th. Truist Financial raised their price target on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird reaffirmed a “neutral” rating and issued a $37.25 price objective (up from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $37.00 target price (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Monday, July 8th. Finally, UBS Group upped their target price on Spirit AeroSystems from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.73.

Spirit AeroSystems Trading Up 1.4 %

Spirit AeroSystems stock opened at $32.55 on Monday. The firm’s fifty day moving average price is $33.93 and its two-hundred day moving average price is $33.21. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of -3.75 and a beta of 1.85. Spirit AeroSystems has a 1-year low of $15.45 and a 1-year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Monday, August 5th. The aerospace company reported ($2.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($1.75). The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.57 billion. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned ($1.46) EPS. On average, research analysts forecast that Spirit AeroSystems will post -5.57 EPS for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new position in Spirit AeroSystems in the 2nd quarter valued at approximately $924,000. Quarry LP grew its holdings in Spirit AeroSystems by 49.0% during the 2nd quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after buying an additional 751 shares in the last quarter. Creative Planning increased its position in shares of Spirit AeroSystems by 41.0% during the second quarter. Creative Planning now owns 99,014 shares of the aerospace company’s stock valued at $3,255,000 after buying an additional 28,775 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Spirit AeroSystems by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company’s stock worth $723,000 after buying an additional 332 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Spirit AeroSystems in the second quarter valued at approximately $348,000. Institutional investors 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.