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

StockNews.com initiated coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report report published on Friday. The brokerage issued a sell rating on the aerospace company’s stock.

Several other brokerages have also issued reports on SPR. Truist Financial lifted their target price on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada restated a “sector perform” rating and set a $37.25 price target on shares of Spirit AeroSystems in a research report on Tuesday, August 20th. Robert W. Baird reaffirmed a “neutral” rating and set a $37.25 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Friday, July 12th. Baird R W lowered Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, Susquehanna restated a “neutral” rating and issued a $37.00 target price (down previously from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.54.

Spirit AeroSystems Trading Up 0.9 %

Shares of SPR traded up $0.29 during mid-day trading on Friday, reaching $31.15. 4,403,055 shares of the stock traded hands, compared to its average volume of 3,055,380. The company has a market cap of $3.63 billion, a price-to-earnings ratio of -2.51 and a beta of 1.84. Spirit AeroSystems has a 1 year low of $23.61 and a 1 year high of $37.08. The firm has a fifty day moving average price of $32.61 and a 200 day moving average price of $32.81.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.83 billion. On average, sell-side analysts anticipate that Spirit AeroSystems will post -9.91 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Spirit AeroSystems by 148.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 724 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Spirit AeroSystems in the 1st quarter worth about $466,000. Swiss National Bank boosted its stake in shares of Spirit AeroSystems by 10.2% during the 1st quarter. Swiss National Bank now owns 228,600 shares of the aerospace company’s stock valued at $8,246,000 after purchasing an additional 21,100 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Spirit AeroSystems during the first quarter valued at about $5,078,000. Finally, State Board of Administration of Florida Retirement System raised its stake in Spirit AeroSystems by 3.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 121,596 shares of the aerospace company’s stock worth $4,199,000 after buying an additional 3,859 shares in the last quarter. 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.