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

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

Several other brokerages have also commented on SPR. JPMorgan Chase & Co. restated a “neutral” rating and set a $37.00 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research note on Monday, July 8th. Susquehanna reissued a “neutral” rating and set a $37.00 target price (down previously from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 17th. Barclays reaffirmed an “equal weight” rating and issued a $37.00 price target (down previously from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. Stifel Nicolaus lifted their price objective on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the company a “hold” rating in a report on Monday, July 8th. Finally, Truist Financial upped their target price on Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Spirit AeroSystems presently has a consensus rating of “Hold” and an average target price of $35.54.

Spirit AeroSystems Price Performance

SPR stock opened at $32.66 on Wednesday. The company has a market capitalization of $3.81 billion, a PE ratio of -3.76 and a beta of 1.85. Spirit AeroSystems has a 12 month low of $20.98 and a 12 month high of $37.08. The firm’s 50-day moving average is $33.34 and its 200 day moving average is $32.94.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results on Monday, August 5th. The aerospace company reported ($2.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($1.75). The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business posted ($1.46) earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Sell-side analysts forecast that Spirit AeroSystems will post -4.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Spirit AeroSystems in the first quarter worth $25,000. Byrne Asset Management LLC acquired a new position in shares of Spirit AeroSystems in the 2nd quarter valued at $30,000. Riverview Trust Co purchased a new position in Spirit AeroSystems in the 1st quarter worth $35,000. Waldron Private Wealth LLC acquired a new stake in Spirit AeroSystems during the 3rd quarter worth about $32,000. Finally, Allspring Global Investments Holdings LLC grew its stake in 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 purchasing an additional 724 shares during the last quarter. 93.59% of the stock is owned by hedge funds and other 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.