Spirit AeroSystems (NYSE:SPR) Earns Sell Rating from Analysts at StockNews.com

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

Separately, TD Cowen raised shares of Spirit AeroSystems to a “strong-buy” rating in a research note 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.67.

Spirit AeroSystems Stock Performance

NYSE SPR opened at $34.25 on Friday. Spirit AeroSystems has a fifty-two week low of $25.16 and a fifty-two week high of $37.08. The stock has a market cap of $4.00 billion, a P/E ratio of -2.76 and a beta of 1.81. The stock has a 50 day simple moving average of $32.64 and a two-hundred day simple moving average of $33.32.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share (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 the consensus estimate of $1.83 billion. Sell-side analysts predict that Spirit AeroSystems will post -12.64 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC increased its position in shares of Spirit AeroSystems by 100.0% in the 4th quarter. FNY Investment Advisers LLC now owns 10,000 shares of the aerospace company’s stock valued at $340,000 after acquiring an additional 5,000 shares during the period. Wedmont Private Capital purchased a new stake in Spirit AeroSystems during the 4th quarter valued at about $253,000. JPMorgan Chase & Co. increased its holdings in shares of Spirit AeroSystems by 32.0% in the third quarter. JPMorgan Chase & Co. now owns 462,837 shares of the aerospace company’s stock valued at $15,047,000 after purchasing an additional 112,286 shares during the period. XTX Topco Ltd purchased a new position in shares of Spirit AeroSystems in the third quarter worth about $217,000. Finally, National Bank of Canada FI lifted its holdings in shares of Spirit AeroSystems by 3,996.6% during the third quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock worth $81,275,000 after purchasing an additional 2,438,974 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.