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

StockNews.com began coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report issued on Wednesday morning. The brokerage issued a sell rating on the aerospace company’s stock.

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $37.25 target price on shares of Spirit AeroSystems in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Spirit AeroSystems currently has an average rating of “Hold” and an average target price of $35.67.

Spirit AeroSystems Stock Performance

Shares of SPR stock opened at $32.85 on Wednesday. The stock’s fifty day moving average is $32.08 and its 200-day moving average is $32.98. The stock has a market capitalization of $3.84 billion, a PE ratio of -2.64 and a beta of 1.82. Spirit AeroSystems has a 52 week low of $25.16 and a 52 week high of $37.08.

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

Institutional Investors Weigh In On Spirit AeroSystems

Several hedge funds have recently bought and sold shares of SPR. XTX Topco Ltd acquired a new position in shares of Spirit AeroSystems during the 3rd quarter worth approximately $217,000. National Bank of Canada FI raised its holdings in Spirit AeroSystems by 3,996.6% in the 3rd quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock valued at $81,275,000 after acquiring an additional 2,438,974 shares during the period. Wellington Management Group LLP lifted its position in Spirit AeroSystems by 0.8% during the third quarter. Wellington Management Group LLP now owns 451,728 shares of the aerospace company’s stock worth $14,686,000 after acquiring an additional 3,424 shares during the last quarter. Sand Grove Capital Management LLP bought a new position in shares of Spirit AeroSystems during the third quarter worth approximately $14,099,000. Finally, Quadrature Capital Ltd bought a new stake in Spirit AeroSystems in the 3rd quarter valued at $293,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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.