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

StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report released on Monday morning. The brokerage issued 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 investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.67.

Spirit AeroSystems Price Performance

SPR opened at $34.10 on Monday. The company’s 50 day simple moving average is $33.33 and its 200-day simple moving average is $33.33. The stock has a market capitalization of $3.99 billion, a P/E ratio of -2.75 and a beta of 1.81. Spirit AeroSystems has a one year low of $25.16 and a one year high of $37.08.

Institutional Investors Weigh In On Spirit AeroSystems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Entropy Technologies LP boosted its position in Spirit AeroSystems by 37.9% in the fourth quarter. Entropy Technologies LP now owns 20,915 shares of the aerospace company’s stock valued at $713,000 after buying an additional 5,746 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Spirit AeroSystems during the fourth quarter worth about $366,000. Byrne Asset Management LLC increased its stake in shares of Spirit AeroSystems by 210.6% in the fourth quarter. Byrne Asset Management LLC now owns 2,050 shares of the aerospace company’s stock valued at $70,000 after buying an additional 1,390 shares during the period. Oak Family Advisors LLC bought a new position in Spirit AeroSystems in the 4th quarter valued at approximately $999,000. Finally, R Squared Ltd acquired a new stake in Spirit AeroSystems during the 4th quarter worth approximately $30,000. 93.59% of the stock is 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.