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

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

Separately, TD Cowen upgraded Spirit AeroSystems to a “strong-buy” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.67.

Spirit AeroSystems Price Performance

NYSE:SPR opened at $33.54 on Friday. The company has a 50 day moving average price of $32.45 and a 200-day moving average price of $33.22. Spirit AeroSystems has a 1-year low of $25.16 and a 1-year high of $37.08. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -2.70 and a beta of 1.82.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.83 billion. On average, sell-side analysts anticipate that Spirit AeroSystems will post -12.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Institutional investors and hedge funds have recently bought and sold shares of the business. Waldron Private Wealth LLC acquired a new position in Spirit AeroSystems during the third quarter worth $32,000. Quest Partners LLC acquired a new position in shares of Spirit AeroSystems during the 3rd quarter valued at about $49,000. Quarry LP boosted its position in shares of Spirit AeroSystems by 49.0% during the 2nd quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after acquiring an additional 751 shares during the last quarter. 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 valued at $150,000 after purchasing an additional 771 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in Spirit AeroSystems during the second quarter worth about $207,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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.