StockNews.com Initiates Coverage on Spirit AeroSystems (NYSE:SPR)

Research analysts at StockNews.com assumed coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report issued on Monday. The brokerage set a “sell” rating on the aerospace company’s stock.

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

Spirit AeroSystems Stock Down 1.0 %

Shares of SPR stock opened at $32.43 on Monday. Spirit AeroSystems has a fifty-two week low of $25.16 and a fifty-two week high of $37.08. The stock’s fifty day moving average price is $32.06 and its two-hundred day moving average price is $32.82.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data 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 company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.83 billion. As a group, analysts forecast that Spirit AeroSystems will post -12.76 earnings per share for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

Hedge funds have recently bought and sold shares of the company. Byrne Asset Management LLC acquired a new position in Spirit AeroSystems in the second quarter valued at approximately $30,000. Waldron Private Wealth LLC bought a new position in Spirit AeroSystems during the third quarter worth $32,000. Quest Partners LLC acquired a new stake in Spirit AeroSystems in the third quarter worth $49,000. Quarry LP increased its stake in Spirit AeroSystems by 49.0% in the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after purchasing an additional 751 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Spirit AeroSystems by 20.1% during the third quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock valued at $150,000 after purchasing an additional 771 shares during the period. 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.