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

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

Separately, TD Cowen upgraded shares of Spirit AeroSystems to a “strong-buy” rating in a research note 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.67.

Spirit AeroSystems Stock Up 1.0 %

SPR opened at $34.25 on Friday. The company’s 50-day moving average price is $32.59 and its two-hundred day moving average price is $33.29. Spirit AeroSystems has a twelve month low of $25.16 and a twelve month high of $37.08. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -2.76 and a beta of 1.81.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.83 billion. As a group, sell-side analysts anticipate that Spirit AeroSystems will post -12.64 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Institutional investors and hedge funds have recently modified their holdings of the stock. Cerity Partners LLC boosted its stake in Spirit AeroSystems by 59.2% during the third quarter. Cerity Partners LLC now owns 119,111 shares of the aerospace company’s stock worth $3,872,000 after buying an additional 44,282 shares during the period. Alpine Associates Management Inc. bought a new position in Spirit AeroSystems in the third quarter worth about $77,296,000. International Assets Investment Management LLC increased its holdings in shares of Spirit AeroSystems by 180,792.9% during the third quarter. International Assets Investment Management LLC now owns 25,325 shares of the aerospace company’s stock valued at $779,000 after acquiring an additional 25,311 shares in the last quarter. Earnest Partners LLC raised its position in Spirit AeroSystems by 2.6% during the 2nd 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 last quarter. Finally, Sand Grove Capital Management LLP acquired a new stake in shares of Spirit AeroSystems during the 3rd quarter worth approximately $14,099,000. 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.