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

StockNews.com assumed coverage on shares of Spirit AeroSystems (NYSE:SPR - Free Report) in a research report released on Saturday morning. The brokerage issued a sell rating on the aerospace company's stock.

Several other equities analysts have also weighed in on SPR. Baird R W lowered Spirit AeroSystems from a strong-buy rating to a hold rating in a report on Friday, July 12th. Barclays restated an equal weight rating and set a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 3rd. Stifel Nicolaus raised their target price on Spirit AeroSystems from $34.00 to $37.25 and gave the company a hold rating in a report on Monday, July 8th. Susquehanna restated a neutral rating and set a $37.00 target price (down from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 17th. Finally, Truist Financial lifted their price objective on Spirit AeroSystems from $30.00 to $35.00 and gave the stock a hold rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $35.38.

Spirit AeroSystems Price Performance

SPR traded up $0.33 during trading on Friday, reaching $33.12. 1,473,350 shares of the stock traded hands, compared to its average volume of 3,311,488. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -3.81 and a beta of 1.85. Spirit AeroSystems has a fifty-two week low of $14.65 and a fifty-two week high of $37.08. The stock's 50-day simple moving average is $34.43 and its two-hundred day simple moving average is $33.25.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The aerospace company reported ($2.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.98) by ($1.75). The company had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.57 billion. During the same period last year, the firm posted ($1.46) earnings per share. The company's revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Spirit AeroSystems will post -4.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

Institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Spirit AeroSystems during the first quarter valued at approximately $25,000. Principal Securities Inc. acquired a new stake in Spirit AeroSystems during the fourth quarter valued at approximately $26,000. Byrne Asset Management LLC acquired a new stake in Spirit AeroSystems during the second quarter valued at approximately $30,000. Riverview Trust Co acquired a new stake in Spirit AeroSystems during the first quarter valued at approximately $35,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Spirit AeroSystems by 148.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company's stock valued at $44,000 after purchasing an additional 724 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.