Spirit AeroSystems (NYSE:SPR) Now Covered by StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research note issued to investors on Thursday. The firm set a “sell” rating on the aerospace company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Truist Financial upped their price objective on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. UBS Group raised their price objective on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. Barclays restated 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. Sanford C. Bernstein reiterated a “market perform” rating on shares of Spirit AeroSystems in a research report on Monday, July 8th. Finally, Citigroup reissued a “neutral” rating and set a $37.25 price objective (down from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.65.

Spirit AeroSystems Price Performance

SPR stock opened at $33.76 on Thursday. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of -3.88 and a beta of 1.85. Spirit AeroSystems has a 1-year low of $14.65 and a 1-year high of $37.08. The firm has a fifty day moving average price of $34.61 and a two-hundred day moving average price of $33.01.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results 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 firm had revenue of $1.49 billion for 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 company earned ($1.46) EPS. As a group, analysts expect that Spirit AeroSystems will post -4.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SPR. Pentwater Capital Management LP lifted its holdings in shares of 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 worth $296,356,000 after buying an additional 9,066,000 shares in the last quarter. Steadfast Capital Management LP lifted its position in shares of 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 during the period. Norges Bank bought a new position in Spirit AeroSystems in the fourth quarter worth about $62,432,000. Balyasny Asset Management L.P. boosted its position 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 acquiring 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 during the 2nd quarter worth approximately $39,969,000. 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.