Spirit AeroSystems (NYSE:SPR) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research note released on Friday morning. The firm issued a sell rating on the aerospace company’s stock.

Several other research analysts also recently commented on the company. Susquehanna reiterated a neutral rating and set a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reiterated a neutral rating and set a $37.00 target price (up from $36.00) on shares of Spirit AeroSystems in a research note on Monday, July 8th. Sanford C. Bernstein reiterated a market perform rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. The Goldman Sachs Group lifted their target price on Spirit AeroSystems from $26.00 to $31.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Finally, Benchmark reiterated a hold rating on shares of Spirit AeroSystems in a research note on Thursday, June 20th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Spirit AeroSystems currently has a consensus rating of Hold and a consensus target price of $33.60.

Spirit AeroSystems Stock Performance

SPR stock opened at $35.01 on Friday. The business has a 50 day moving average price of $32.03 and a two-hundred day moving average price of $31.51. Spirit AeroSystems has a twelve month low of $14.65 and a twelve month high of $36.34.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.62 billion. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period last year, the company posted ($1.69) EPS. Equities research analysts forecast that Spirit AeroSystems will post -3.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPR. Steadfast Capital Management LP raised its holdings in Spirit AeroSystems by 1,274.6% in 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 acquiring an additional 4,371,874 shares in the last quarter. Norges Bank acquired a new position in Spirit AeroSystems in the 4th quarter valued at $62,432,000. Balyasny Asset Management L.P. raised its holdings in Spirit AeroSystems by 495.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,737,893 shares of the aerospace company’s stock valued at $55,230,000 after acquiring an additional 1,445,994 shares in the last quarter. Vanguard Group Inc. raised its holdings in Spirit AeroSystems by 8.8% in the 4th quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock valued at $344,649,000 after acquiring an additional 876,673 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Spirit AeroSystems by 405.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,069,600 shares of the aerospace company’s stock valued at $35,158,000 after acquiring an additional 858,162 shares in the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

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.