Spirit AeroSystems (NYSE:SPR) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report sent to investors on Monday morning. The brokerage issued a sell rating on the aerospace company’s stock.

SPR has been the subject of several other research reports. Baird R W cut Spirit AeroSystems from a strong-buy rating to a hold rating in a research report on Friday, July 12th. Robert W. Baird reiterated a neutral rating and issued a $37.25 price objective (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Friday, July 12th. JPMorgan Chase & Co. reissued a neutral rating and set a $37.00 price objective (up previously from $36.00) on shares of Spirit AeroSystems in a report on Monday, July 8th. Sanford C. Bernstein reaffirmed a market perform rating on shares of Spirit AeroSystems in a report on Monday, July 8th. Finally, Susquehanna reissued a neutral rating and set a $37.00 price target (down previously from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Spirit AeroSystems has an average rating of Hold and a consensus target price of $33.60.

Spirit AeroSystems Stock Up 1.4 %

NYSE SPR opened at $34.70 on Monday. The stock has a market capitalization of $4.04 billion, a P/E ratio of -3.99 and a beta of 1.84. Spirit AeroSystems has a 52-week low of $14.65 and a 52-week high of $37.08. The firm has a 50-day moving average price of $33.54 and a 200 day moving average price of $32.35.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Monday, August 5th. The aerospace company reported ($2.73) earnings per share (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 the consensus estimate of $1.57 billion. During the same quarter last year, the firm earned ($1.46) EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts expect that Spirit AeroSystems will post -4.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Spirit AeroSystems by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock valued at $395,128,000 after purchasing an additional 109,632 shares during the last quarter. Pentwater Capital Management LP increased its stake in shares of Spirit AeroSystems by 18,132.0% during the 2nd quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock valued at $296,356,000 after acquiring an additional 9,066,000 shares during the last quarter. Steadfast Capital Management LP increased its stake in shares of Spirit AeroSystems by 1,274.6% during the 1st quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock valued at $170,066,000 after acquiring an additional 4,371,874 shares during the last quarter. Maple Rock Capital Partners Inc. lifted its holdings in shares of Spirit AeroSystems by 7.2% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,423,000 shares of the aerospace company’s stock worth $159,538,000 after acquiring an additional 296,000 shares during the period. Finally, Earnest Partners LLC boosted its position in shares of Spirit AeroSystems by 2.6% in the second quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company’s stock worth $134,644,000 after acquiring an additional 105,350 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

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.