Spirit AeroSystems (NYSE:SPR) Earns Sell Rating from Analysts at StockNews.com

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

Separately, TD Cowen raised Spirit AeroSystems to a “strong-buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.67.

Spirit AeroSystems Trading Down 1.6 %

NYSE SPR opened at $33.54 on Friday. The stock has a fifty day simple moving average of $32.45 and a 200-day simple moving average of $33.22. The stock has a market cap of $3.92 billion, a PE ratio of -2.70 and a beta of 1.82. Spirit AeroSystems has a twelve month low of $25.16 and a twelve month high of $37.08.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share 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. Research analysts predict that Spirit AeroSystems will post -12.64 EPS for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI raised its holdings in 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 acquiring an additional 2,438,974 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Spirit AeroSystems in the 3rd quarter valued at approximately $77,296,000. Appian Way Asset Management LP acquired a new stake in shares of Spirit AeroSystems in the 2nd quarter valued at $39,969,000. Bank of Montreal Can lifted its position in shares of Spirit AeroSystems by 1,744.2% during the 3rd quarter. Bank of Montreal Can now owns 802,091 shares of the aerospace company’s stock worth $26,557,000 after purchasing an additional 758,599 shares during the last quarter. Finally, ING Groep NV acquired a new position in shares of Spirit AeroSystems during the third quarter worth $16,817,000. 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.