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Spirit AeroSystems (NYSE:SPR) Raised to Strong-Buy at TD Cowen

Spirit AeroSystems logo with Aerospace background

TD Cowen upgraded shares of Spirit AeroSystems (NYSE:SPR - Free Report) to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Separately, StockNews.com assumed coverage on Spirit AeroSystems in a research note on Wednesday. They set a "sell" rating on the stock. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $35.67.

Get Our Latest Analysis on Spirit AeroSystems

Spirit AeroSystems Stock Performance

SPR traded up $0.09 during midday trading on Thursday, reaching $33.26. 2,236,455 shares of the company were exchanged, compared to its average volume of 2,899,807. The stock has a market capitalization of $3.89 billion, a P/E ratio of -2.68 and a beta of 1.82. Spirit AeroSystems has a one year low of $25.16 and a one year high of $37.08. The stock's 50-day simple moving average is $32.12 and its 200 day simple moving average is $32.98.

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 company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.83 billion. On average, research analysts anticipate that Spirit AeroSystems will post -12.64 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Waldron Private Wealth LLC bought a new position in shares of Spirit AeroSystems in the third quarter valued at $32,000. Quest Partners LLC bought a new stake in shares of Spirit AeroSystems in the 3rd quarter valued at about $49,000. Quarry LP lifted its stake in Spirit AeroSystems by 49.0% in the 2nd quarter. Quarry LP now owns 2,285 shares of the aerospace company's stock valued at $75,000 after purchasing an additional 751 shares during the last quarter. KBC Group NV grew its holdings in Spirit AeroSystems by 20.1% during the third quarter. KBC Group NV now owns 4,607 shares of the aerospace company's stock worth $150,000 after purchasing an additional 771 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Spirit AeroSystems during the second quarter worth approximately $207,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Spirit AeroSystems Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Spirit AeroSystems (NYSE:SPR)

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