Spirit AeroSystems (NYSE:SPR) Rating Increased to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Spirit AeroSystems (NYSE:SPR) to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

Separately, StockNews.com started coverage on shares of Spirit AeroSystems in a research note on Wednesday. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Spirit AeroSystems currently has a consensus rating of “Hold” and an average target price of $35.67.

Spirit AeroSystems Stock Performance

Spirit AeroSystems stock opened at $33.26 on Thursday. Spirit AeroSystems has a one year low of $25.16 and a one year high of $37.08. The stock has a market cap of $3.89 billion, a PE ratio of -2.68 and a beta of 1.82. The stock has a 50-day moving average of $32.16 and a two-hundred day moving average of $32.99.

Spirit AeroSystems (NYSE:SPR) last announced 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 company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.83 billion. As a group, sell-side analysts predict that Spirit AeroSystems will post -12.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

A number of institutional investors have recently modified their holdings of SPR. XTX Topco Ltd acquired a new stake in Spirit AeroSystems during the third quarter worth about $217,000. National Bank of Canada FI boosted its position in Spirit AeroSystems by 3,996.6% in the 3rd quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock worth $81,275,000 after purchasing an additional 2,438,974 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Spirit AeroSystems by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 451,728 shares of the aerospace company’s stock worth $14,686,000 after purchasing an additional 3,424 shares during the period. Sand Grove Capital Management LLP purchased a new position in shares of Spirit AeroSystems during the 3rd quarter valued at approximately $14,099,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Spirit AeroSystems during the 3rd quarter valued at approximately $293,000. Hedge funds and other 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.