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

Equities research analysts at StockNews.com began 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 report on Thursday, December 19th. One equities research 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. According to data from MarketBeat.com, Spirit AeroSystems currently has an average rating of “Hold” and a consensus target price of $35.67.

Spirit AeroSystems Stock Performance

Shares of NYSE SPR opened at $33.07 on Friday. Spirit AeroSystems has a one year low of $25.16 and a one year high of $37.08. The firm has a market capitalization of $3.87 billion, a P/E ratio of -2.66 and a beta of 1.82. The company’s fifty day moving average is $32.49 and its two-hundred day moving average is $33.25.

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

Institutional Trading of Spirit AeroSystems

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Waldron Private Wealth LLC purchased a new stake in Spirit AeroSystems during the 3rd quarter worth about $32,000. Quest Partners LLC purchased a new stake in shares of Spirit AeroSystems during the third quarter worth about $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 valued at $75,000 after buying an additional 751 shares during the last quarter. KBC Group NV raised its position 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 buying an additional 771 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Spirit AeroSystems during the second quarter valued at approximately $207,000. 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.