StockNews.com Initiates Coverage on Spirit AeroSystems (NYSE:SPR)

Analysts at StockNews.com initiated coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report released on Sunday. The brokerage set a “sell” rating on the aerospace company’s stock.

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

Spirit AeroSystems Price Performance

Shares of Spirit AeroSystems stock opened at $32.61 on Friday. Spirit AeroSystems has a fifty-two week low of $25.16 and a fifty-two week high of $37.08. The firm has a market capitalization of $3.81 billion, a P/E ratio of -2.63 and a beta of 1.84. The company’s 50 day moving average price is $32.12 and its two-hundred day moving average price is $32.76.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results 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 firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.83 billion. On average, analysts expect that Spirit AeroSystems will post -12.76 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Byrne Asset Management LLC purchased a new position in shares of Spirit AeroSystems during the 2nd quarter valued at $30,000. Waldron Private Wealth LLC bought a new stake in shares of Spirit AeroSystems during the third quarter valued at about $32,000. Quest Partners LLC purchased a new stake in Spirit AeroSystems in the 3rd quarter worth approximately $49,000. Quarry LP raised its position in shares of Spirit AeroSystems by 49.0% in the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock worth $75,000 after buying an additional 751 shares in the last quarter. Finally, KBC Group NV boosted its stake in Spirit AeroSystems by 20.1% during the third quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock valued at $150,000 after buying an additional 771 shares during the period. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

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.