Spirit AeroSystems (NYSE:SPR) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research note issued to investors on Saturday. The firm set a “sell” rating on the aerospace company’s stock.

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $37.25 target price on shares of Spirit AeroSystems in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Spirit AeroSystems presently has an average rating of “Hold” and a consensus price target of $35.67.

Spirit AeroSystems Price Performance

Shares of Spirit AeroSystems stock opened at $30.70 on Friday. The business has a 50-day moving average of $32.30 and a 200 day moving average of $32.76. Spirit AeroSystems has a 12 month low of $24.11 and a 12 month high of $37.08. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -2.47 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.83 billion. Equities research analysts anticipate that Spirit AeroSystems will post -12.76 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Several large investors have recently modified their holdings of SPR. Vanguard Group Inc. grew its holdings in Spirit AeroSystems by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock worth $395,128,000 after acquiring an additional 109,632 shares during the period. Pentwater Capital Management LP boosted its stake in shares of Spirit AeroSystems by 18,132.0% during the second quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock valued at $296,356,000 after acquiring an additional 9,066,000 shares during the last quarter. Steadfast Capital Management LP boosted its stake in shares of Spirit AeroSystems by 1,274.6% during the first quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock valued at $170,066,000 after acquiring an additional 4,371,874 shares during the last quarter. Maple Rock Capital Partners Inc. boosted its stake in shares of Spirit AeroSystems by 7.2% during the first quarter. Maple Rock Capital Partners Inc. now owns 4,423,000 shares of the aerospace company’s stock valued at $159,538,000 after acquiring an additional 296,000 shares during the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of Spirit AeroSystems by 2.6% during the second quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company’s stock valued at $134,644,000 after acquiring an additional 105,350 shares during the last quarter. 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.