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

by · The Markets Daily

Investment analysts at StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR – Get Free Report) in a research report issued on Saturday. The brokerage 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 issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.67.

View Our Latest Analysis on SPR

Spirit AeroSystems Stock Performance

Shares of NYSE:SPR opened at $34.25 on Friday. Spirit AeroSystems has a one year low of $25.16 and a one year high of $37.08. The business’s fifty day moving average price is $32.62 and its two-hundred day moving average price is $33.31. The stock has a market cap of $4.00 billion, a PE ratio of -2.76 and a beta of 1.81.

Spirit AeroSystems (NYSE:SPR – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.83 billion. As a group, equities research analysts predict that Spirit AeroSystems will post -12.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI grew its stake in shares of Spirit AeroSystems by 3,996.6% in the third quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock valued at $81,275,000 after buying an additional 2,438,974 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in Spirit AeroSystems in the 3rd quarter worth $77,296,000. Appian Way Asset Management LP acquired a new stake in shares of Spirit AeroSystems during the second quarter valued at about $39,969,000. Bank of Montreal Can increased its position in shares of Spirit AeroSystems by 1,744.2% during the third quarter. Bank of Montreal Can now owns 802,091 shares of the aerospace company’s stock worth $26,557,000 after acquiring an additional 758,599 shares during the last quarter. Finally, ING Groep NV purchased a new position in Spirit AeroSystems in the third quarter valued at about $16,817,000. 93.59% of the stock is owned by hedge funds and other institutional investors.

Spirit AeroSystems Company Profile

(Get Free Report)

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.

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