Spirit AeroSystems (NYSE:SPR) Upgraded at TD Cowen

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

Separately, StockNews.com started coverage on shares of Spirit AeroSystems in a research report on Wednesday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.67.

Spirit AeroSystems Price Performance

Shares of NYSE SPR opened at $33.26 on Thursday. Spirit AeroSystems has a 1 year low of $25.16 and a 1 year high of $37.08. The firm has a 50-day simple moving average of $32.16 and a two-hundred day simple moving average of $32.99. The company has a market cap of $3.89 billion, a P/E ratio of -2.68 and a beta of 1.82.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings data 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 company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.83 billion. As a group, equities research 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 the stock. Pentwater Capital Management LP raised its position in shares of Spirit AeroSystems by 18,132.0% in the 2nd quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock worth $296,356,000 after acquiring an additional 9,066,000 shares in the last quarter. Earnest Partners LLC grew its stake in Spirit AeroSystems by 2.6% in the second quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company’s stock valued at $134,644,000 after purchasing an additional 105,350 shares during the last quarter. National Bank of Canada FI raised its holdings in Spirit AeroSystems by 3,996.6% in the third quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock worth $81,275,000 after purchasing an additional 2,438,974 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Spirit AeroSystems during the third quarter valued at about $77,296,000. Finally, Sei Investments Co. boosted its holdings in shares of Spirit AeroSystems by 5.5% in the 2nd quarter. Sei Investments Co. now owns 1,686,945 shares of the aerospace company’s stock valued at $55,450,000 after buying an additional 88,608 shares in the last quarter. Hedge funds and other institutional investors 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.