Spirit AeroSystems (NYSE:SPR) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report released on Friday. The firm set a “sell” rating on the aerospace company’s stock.

Other equities research analysts have also issued reports about the stock. Susquehanna reiterated a “neutral” rating and issued a $37.00 price target (down from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 17th. Baird R W cut Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $37.25 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $37.25 price objective on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. Finally, Truist Financial lifted their price target on Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.67.

Spirit AeroSystems Price Performance

Shares of Spirit AeroSystems stock opened at $31.15 on Friday. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -2.51 and a beta of 1.84. Spirit AeroSystems has a one year low of $23.61 and a one year high of $37.08. The stock’s 50-day moving average is $32.61 and its 200-day moving average is $32.81.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.83 billion. On average, equities analysts expect that Spirit AeroSystems will post -9.91 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Spirit AeroSystems by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock worth $395,128,000 after acquiring an additional 109,632 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Spirit AeroSystems by 148.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 724 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Spirit AeroSystems by 180,792.9% in the 3rd quarter. International Assets Investment Management LLC now owns 25,325 shares of the aerospace company’s stock valued at $779,000 after purchasing an additional 25,311 shares during the last quarter. Earnest Partners LLC increased its position in shares of Spirit AeroSystems by 2.6% during the second quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company’s stock worth $134,644,000 after buying an additional 105,350 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Spirit AeroSystems during the first quarter worth $5,078,000. 93.59% of the stock is owned by institutional investors and hedge funds.

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.