Spirit AeroSystems (NYSE:SPR) Receives New Coverage from Analysts at StockNews.com

StockNews.com began 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.

Several other equities analysts also recently weighed in on SPR. Stifel Nicolaus raised their price target on Spirit AeroSystems from $34.00 to $37.25 and gave the company a hold rating in a report on Monday, July 8th. UBS Group raised their price target on Spirit AeroSystems from $33.00 to $34.00 and gave the company a neutral rating in a report on Monday, July 1st. Sanford C. Bernstein restated a market perform rating on shares of Spirit AeroSystems in a report on Monday, July 8th. Truist Financial raised their price target on Spirit AeroSystems from $30.00 to $35.00 and gave the company a hold rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. restated a neutral rating and set a $37.00 price target (up from $36.00) on shares of Spirit AeroSystems in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $35.38.

Spirit AeroSystems Trading Down 2.5 %

Shares of Spirit AeroSystems stock opened at $32.86 on Thursday. The firm has a market capitalization of $3.83 billion, a P/E ratio of -3.78 and a beta of 1.85. The business has a fifty day simple moving average of $34.62 and a two-hundred day simple moving average of $33.08. Spirit AeroSystems has a 12 month low of $14.65 and a 12 month high of $37.08.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Monday, August 5th. The aerospace company reported ($2.73) EPS for the quarter, missing the consensus estimate of ($0.98) by ($1.75). The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.57 billion. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.46) earnings per share. Analysts predict that Spirit AeroSystems will post -4.21 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Large investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Spirit AeroSystems during the 1st quarter valued at about $25,000. Principal Securities Inc. bought a new position in shares of Spirit AeroSystems during the 4th quarter valued at approximately $26,000. Byrne Asset Management LLC bought a new position in shares of Spirit AeroSystems during the 2nd quarter valued at approximately $30,000. Riverview Trust Co bought a new position in shares of Spirit AeroSystems during the 1st quarter valued at approximately $35,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Spirit AeroSystems by 148.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 724 shares during the period. 93.59% of the stock is currently 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.