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

StockNews.com began coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report sent to investors on Saturday morning. The firm issued a sell rating on the aerospace company’s stock.

Several other equities analysts also recently weighed in on SPR. Citigroup restated a neutral rating and issued a $37.25 target price (down previously from $39.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Stifel Nicolaus lifted their target price on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the stock a hold rating in a research note on Monday, July 8th. UBS Group upped their target price on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the stock a neutral rating in a report on Monday, July 1st. Wolfe Research reissued a peer perform rating on shares of Spirit AeroSystems in a research note on Wednesday, July 10th. Finally, Truist Financial upped their price objective on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the company a hold rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $35.38.

Spirit AeroSystems Stock Performance

Shares of NYSE SPR opened at $33.22 on Friday. The firm has a market cap of $3.87 billion, a PE ratio of -3.82 and a beta of 1.85. Spirit AeroSystems has a one year low of $14.89 and a one year high of $37.08. The firm has a fifty day moving average of $34.35 and a 200 day moving average of $33.19.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Monday, August 5th. The aerospace company reported ($2.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($1.75). The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.57 billion. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.46) earnings per share. On average, equities analysts predict that Spirit AeroSystems will post -4.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

Institutional investors and hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in Spirit AeroSystems in the 2nd quarter valued at about $924,000. Quarry LP grew its holdings in shares of Spirit AeroSystems by 49.0% in the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after purchasing an additional 751 shares in the last quarter. Creative Planning increased its stake in Spirit AeroSystems by 41.0% during the 2nd quarter. Creative Planning now owns 99,014 shares of the aerospace company’s stock worth $3,255,000 after buying an additional 28,775 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Spirit AeroSystems by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company’s stock worth $723,000 after buying an additional 332 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in Spirit AeroSystems in the 2nd quarter valued at approximately $348,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

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.