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

Stock analysts at StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report released on Saturday. The firm set a “hold” rating on the aerospace company’s stock.

Several other brokerages have also commented on SPR. TD Cowen raised Spirit AeroSystems to a “strong-buy” rating in a report on Thursday, December 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, February 11th. Fifteen research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Spirit AeroSystems presently has an average rating of “Hold” and an average price target of $36.00.

Spirit AeroSystems Price Performance

NYSE SPR opened at $33.16 on Friday. The company’s 50 day simple moving average is $34.13 and its two-hundred day simple moving average is $33.24. Spirit AeroSystems has a 1 year low of $28.92 and a 1 year high of $37.08. The stock has a market capitalization of $3.88 billion, a PE ratio of -2.67 and a beta of 1.77.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Friday, February 28th. The aerospace company reported ($4.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.86) by ($2.36). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.94 billion. On average, research analysts anticipate that Spirit AeroSystems will post -11.88 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SPR. Treasurer of the State of North Carolina boosted its holdings in Spirit AeroSystems by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 50,980 shares of the aerospace company’s stock valued at $1,737,000 after acquiring an additional 320 shares during the period. ProShare Advisors LLC boosted its stake in shares of Spirit AeroSystems by 10.0% during the fourth quarter. ProShare Advisors LLC now owns 7,731 shares of the aerospace company’s stock valued at $263,000 after purchasing an additional 703 shares during the period. KBC Group NV grew its holdings in shares of Spirit AeroSystems by 20.1% in the third quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock worth $150,000 after purchasing an additional 771 shares during the last quarter. R Squared Ltd purchased a new position in shares of Spirit AeroSystems in the fourth quarter worth $30,000. Finally, SBI Securities Co. Ltd. bought a new stake in Spirit AeroSystems during the 4th quarter valued at $32,000. 93.59% of the stock is owned by institutional investors.

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.