Spirit AeroSystems (NYSE:SPR) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report issued on Thursday. The firm issued a sell rating on the aerospace company’s stock.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $37.25 price objective on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. Susquehanna reaffirmed a “neutral” rating and issued a $37.00 price objective (down previously from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 17th. Robert W. Baird reissued a “neutral” rating and set a $37.25 target price (up from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. Citigroup restated a “neutral” rating and set a $37.25 price target (down previously from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. Finally, Stifel Nicolaus upped their price objective on Spirit AeroSystems from $34.00 to $37.25 and gave the company a “hold” rating in a research note on Monday, July 8th. One 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.54.

Spirit AeroSystems Price Performance

NYSE SPR opened at $32.90 on Thursday. The company has a fifty day moving average price of $32.93 and a 200-day moving average price of $32.85. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -2.65 and a beta of 1.84. Spirit AeroSystems has a 1 year low of $20.98 and a 1 year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share (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. On average, research analysts anticipate that Spirit AeroSystems will post -9.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pentwater Capital Management LP raised its position in shares of Spirit AeroSystems by 18,132.0% during the 2nd quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock valued at $296,356,000 after buying an additional 9,066,000 shares in the last quarter. Steadfast Capital Management LP grew its holdings in shares of Spirit AeroSystems by 1,274.6% during the 1st quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock valued at $170,066,000 after purchasing an additional 4,371,874 shares during the last quarter. Appian Way Asset Management LP purchased a new position in Spirit AeroSystems in the 2nd quarter worth $39,969,000. Assenagon Asset Management S.A. lifted its stake in Spirit AeroSystems by 405.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,069,600 shares of the aerospace company’s stock worth $35,158,000 after purchasing an additional 858,162 shares during the last quarter. Finally, Forest Avenue Capital Management LP purchased a new stake in Spirit AeroSystems during the second quarter valued at about $16,231,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

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.