Spirit Aerosystems (NYSE:SPR) Upgraded at Zacks Research

Zacks Research upgraded shares of Spirit Aerosystems (NYSE:SPR) from a strong sell rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on SPR. Wall Street Zen raised Spirit Aerosystems from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 9th. Susquehanna lifted their price objective on shares of Spirit Aerosystems from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.63.

Spirit Aerosystems Stock Down 0.1%

Shares of Spirit Aerosystems stock opened at $38.58 on Monday. The business has a fifty day simple moving average of $40.38 and a 200-day simple moving average of $37.26. Spirit Aerosystems has a fifty-two week low of $27.00 and a fifty-two week high of $42.33. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of -1.93 and a beta of 1.74.

Spirit Aerosystems (NYSE:SPR) last posted its quarterly earnings data on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($2.82). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.82 billion. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted ($2.73) EPS. Analysts anticipate that Spirit Aerosystems will post -11.88 earnings per share for the current fiscal year.

Institutional Trading of Spirit Aerosystems

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Spirit Aerosystems in the 2nd quarter worth approximately $95,804,000. Balyasny Asset Management L.P. increased its holdings in shares of Spirit Aerosystems by 25.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 6,502,847 shares of the aerospace company’s stock worth $248,084,000 after purchasing an additional 1,328,419 shares during the period. National Bank of Canada FI raised its position in shares of Spirit Aerosystems by 32.1% during the second quarter. National Bank of Canada FI now owns 3,643,692 shares of the aerospace company’s stock valued at $139,007,000 after buying an additional 884,788 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Spirit Aerosystems by 51.9% in the first quarter. Millennium Management LLC now owns 2,545,611 shares of the aerospace company’s stock valued at $87,722,000 after buying an additional 870,263 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Spirit Aerosystems by 195.6% in the 1st quarter. SG Americas Securities LLC now owns 962,903 shares of the aerospace company’s stock valued at $33,182,000 after acquiring an additional 637,110 shares in the last quarter. 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.