Spirit AeroSystems (NYSE:SPR) Earns Sell Rating from Analysts at StockNews.com

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

Other analysts have also issued reports about the company. Royal Bank of Canada reiterated a sector perform rating and set a $37.25 price objective on shares of Spirit AeroSystems in a report on Tuesday, August 20th. UBS Group lifted their price target on Spirit AeroSystems from $33.00 to $34.00 and gave the company a neutral rating in a report on Monday, July 1st. Baird R W cut Spirit AeroSystems from a strong-buy rating to a hold rating in a research note on Friday, July 12th. Robert W. Baird reaffirmed a neutral rating and set a $37.25 price objective (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. Finally, Wolfe Research reissued a peer perform rating on shares of Spirit AeroSystems in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $35.38.

Spirit AeroSystems Trading Down 2.5 %

Shares of NYSE SPR opened at $32.86 on Thursday. The firm has a market capitalization of $3.83 billion, a PE ratio of -3.78 and a beta of 1.85. Spirit AeroSystems has a one year low of $14.65 and a one year high of $37.08. The business has a 50-day moving average price of $34.62 and a two-hundred day moving average price of $33.05.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data 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 company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the firm earned ($1.46) earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts anticipate that Spirit AeroSystems will post -4.21 EPS for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Spirit AeroSystems in the 1st quarter worth $25,000. Principal Securities Inc. bought a new stake in shares of Spirit AeroSystems in the fourth quarter valued at about $26,000. Byrne Asset Management LLC acquired a new stake in Spirit AeroSystems during the second quarter worth about $30,000. Riverview Trust Co bought a new position in Spirit AeroSystems during the first quarter valued at about $35,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Spirit AeroSystems by 148.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 724 shares in the last quarter. Institutional investors 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.