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

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

Separately, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $37.25 price objective on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $35.67.

Spirit AeroSystems Stock Performance

NYSE SPR traded down $0.27 during trading on Wednesday, hitting $32.85. 1,287,432 shares of the company's stock traded hands, compared to its average volume of 2,900,753. The business has a 50 day moving average of $32.08 and a 200-day moving average of $32.98. Spirit AeroSystems has a 12-month low of $25.16 and a 12-month high of $37.08. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of -2.64 and a beta of 1.82.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last issued its earnings results 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, analysts expect that Spirit AeroSystems will post -12.64 EPS for the current year.

Institutional Trading of Spirit AeroSystems

A number of hedge funds have recently bought and sold shares of SPR. Cerity Partners LLC lifted its holdings in Spirit AeroSystems by 59.2% in the third quarter. Cerity Partners LLC now owns 119,111 shares of the aerospace company's stock valued at $3,872,000 after acquiring an additional 44,282 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in Spirit AeroSystems during the third quarter worth about $77,296,000. International Assets Investment Management LLC raised its stake in shares of Spirit AeroSystems by 180,792.9% in the 3rd quarter. International Assets Investment Management LLC now owns 25,325 shares of the aerospace company's stock valued at $779,000 after acquiring an additional 25,311 shares during the period. Earnest Partners LLC boosted its position in shares of Spirit AeroSystems by 2.6% during the 2nd quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company's stock worth $134,644,000 after purchasing an additional 105,350 shares during the period. Finally, Sand Grove Capital Management LLP acquired a new stake in Spirit AeroSystems in the 3rd quarter valued at approximately $14,099,000. Institutional investors and hedge funds own 93.59% of the company's stock.

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.