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

Analysts at StockNews.com assumed coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the aerospace company’s stock.

Separately, Royal Bank of Canada reissued a “sector perform” rating and issued a $37.25 target price on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.67.

Spirit AeroSystems Price Performance

SPR opened at $32.36 on Monday. Spirit AeroSystems has a fifty-two week low of $25.16 and a fifty-two week high of $37.08. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -2.61 and a beta of 1.84. The firm has a 50 day simple moving average of $32.08 and a 200 day simple moving average of $32.80.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results 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 business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.83 billion. As a group, analysts expect that Spirit AeroSystems will post -12.76 EPS for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Several large investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Spirit AeroSystems in the 3rd quarter worth $217,000. National Bank of Canada FI lifted its holdings in shares of Spirit AeroSystems by 3,996.6% in the third quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock valued at $81,275,000 after purchasing an additional 2,438,974 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Spirit AeroSystems by 0.8% in the third quarter. Wellington Management Group LLP now owns 451,728 shares of the aerospace company’s stock valued at $14,686,000 after purchasing an additional 3,424 shares in the last quarter. Sand Grove Capital Management LLP acquired a new position in shares of Spirit AeroSystems during the third quarter worth about $14,099,000. Finally, Quadrature Capital Ltd bought a new position in shares of Spirit AeroSystems during the third quarter worth about $293,000. 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.