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

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

A number of other equities analysts have also recently commented on the company. Stifel Nicolaus lifted their target price on Spirit AeroSystems from $34.00 to $37.25 and gave the stock a hold rating in a report on Monday, July 8th. Sanford C. Bernstein restated a market perform rating on shares of Spirit AeroSystems in a report on Monday, July 8th. Wolfe Research reiterated a peer perform rating on shares of Spirit AeroSystems in a report on Wednesday. UBS Group boosted their target price on Spirit AeroSystems from $33.00 to $34.00 and gave the company a neutral rating in a research report on Monday, July 1st. Finally, JPMorgan Chase & Co. reissued a neutral rating and set a $37.00 price target (up from $36.00) on shares of Spirit AeroSystems in a research note on Monday, July 8th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $33.49.

Spirit AeroSystems Trading Up 0.2 %

Shares of Spirit AeroSystems stock opened at $34.56 on Thursday. The firm has a market cap of $4.03 billion, a PE ratio of -3.98 and a beta of 1.84. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $36.34. The stock has a 50 day moving average of $31.67 and a 200 day moving average of $31.37.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.69) earnings per share. As a group, equities research analysts forecast that Spirit AeroSystems will post -2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPR. MCF Advisors LLC increased its stake in shares of Spirit AeroSystems by 0.8% during the first quarter. MCF Advisors LLC now owns 41,228 shares of the aerospace company’s stock worth $1,487,000 after buying an additional 343 shares during the period. Mystic Asset Management Inc. grew its holdings in Spirit AeroSystems by 0.7% during the 1st quarter. Mystic Asset Management Inc. now owns 52,847 shares of the aerospace company’s stock worth $1,906,000 after acquiring an additional 346 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Spirit AeroSystems by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 46,362 shares of the aerospace company’s stock worth $1,473,000 after purchasing an additional 460 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Spirit AeroSystems by 3.2% during the fourth quarter. HB Wealth Management LLC now owns 15,035 shares of the aerospace company’s stock worth $478,000 after purchasing an additional 464 shares in the last quarter. Finally, CWM LLC increased its holdings in Spirit AeroSystems by 7.7% in the fourth quarter. CWM LLC now owns 7,516 shares of the aerospace company’s stock valued at $239,000 after buying an additional 537 shares during the last quarter. 93.59% of the stock is currently owned by hedge funds and other 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.