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

StockNews.com began coverage on shares of Spirit AeroSystems (NYSE:SPR - Free Report) in a report published on Thursday. The brokerage issued a sell rating on the aerospace company's stock.

SPR has been the subject of several other research reports. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $37.00 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Monday, July 8th. Stifel Nicolaus boosted their price target on Spirit AeroSystems from $34.00 to $37.25 and gave the company a "hold" rating in a research note on Monday, July 8th. Royal Bank of Canada reissued a "sector perform" rating and issued a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. Robert W. Baird reissued a "neutral" rating and issued a $37.25 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Friday, July 12th. Finally, Citigroup reissued a "neutral" rating and issued a $37.25 price target (down previously from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Spirit AeroSystems currently has a consensus rating of "Hold" and an average target price of $35.54.

Spirit AeroSystems Trading Down 1.6 %

NYSE:SPR traded down $0.52 on Thursday, hitting $32.37. 1,599,115 shares of the company's stock traded hands, compared to its average volume of 3,064,414. The firm has a 50-day moving average price of $32.97 and a 200-day moving average price of $32.86. The company has a market cap of $3.77 billion, a PE ratio of -2.61 and a beta of 1.85. Spirit AeroSystems has a 1 year low of $20.98 and a 1 year high of $37.08.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.83 billion. On average, research analysts forecast that Spirit AeroSystems will post -4.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

Hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in Spirit AeroSystems by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company's stock worth $723,000 after acquiring an additional 332 shares in the last quarter. Mystic Asset Management Inc. raised its stake in Spirit AeroSystems by 0.7% during the first quarter. Mystic Asset Management Inc. now owns 52,847 shares of the aerospace company's stock worth $1,906,000 after acquiring an additional 346 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in Spirit AeroSystems by 1.4% during the second quarter. Ensign Peak Advisors Inc now owns 35,466 shares of the aerospace company's stock worth $1,166,000 after acquiring an additional 500 shares in the last quarter. Inspire Investing LLC raised its stake in Spirit AeroSystems by 6.4% during the second quarter. Inspire Investing LLC now owns 10,689 shares of the aerospace company's stock worth $351,000 after acquiring an additional 643 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Spirit AeroSystems by 148.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company's stock valued at $44,000 after buying an additional 724 shares in the last quarter. 93.59% of the stock is owned by institutional investors.

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.