StockNews.com Begins Coverage on Spirit AeroSystems (NYSE:SPR)

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

SPR has been the topic of several other reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $37.25 target price on shares of Spirit AeroSystems in a research report on Tuesday, August 20th. Truist Financial upped their target price on Spirit AeroSystems from $30.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Sanford C. Bernstein reissued a “market perform” rating on shares of Spirit AeroSystems in a research report on Monday, July 8th. Stifel Nicolaus increased their price target on Spirit AeroSystems from $34.00 to $37.25 and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, Baird R W downgraded Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Spirit AeroSystems has a consensus rating of “Hold” and an average price target of $35.54.

Spirit AeroSystems Trading Down 0.7 %

Shares of SPR opened at $31.44 on Wednesday. Spirit AeroSystems has a 12 month low of $20.98 and a 12 month high of $37.08. The stock has a fifty day moving average price of $33.17 and a 200-day moving average price of $32.91. The firm has a market cap of $3.66 billion, a PE ratio of -3.62 and a beta of 1.85.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data 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 firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.83 billion. As a group, research analysts forecast that Spirit AeroSystems will post -4.67 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPR. Vanguard Group Inc. lifted its stake in Spirit AeroSystems by 8.8% in the 4th quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock valued at $344,649,000 after buying an additional 876,673 shares in the last quarter. Riverview Trust Co purchased a new position in Spirit AeroSystems in the 1st quarter valued at about $35,000. Brookstone Capital Management purchased a new position in Spirit AeroSystems in the 1st quarter valued at about $405,000. MCF Advisors LLC lifted its stake in Spirit AeroSystems by 0.8% in the 1st quarter. MCF Advisors LLC now owns 41,228 shares of the aerospace company’s stock valued at $1,487,000 after buying an additional 343 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Spirit AeroSystems in the 1st quarter valued at about $382,000. 93.59% of the stock is owned by hedge funds and other 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.