Spirit AeroSystems (NYSE:SPR) Raised to Strong-Buy at TD Cowen

Spirit AeroSystems (NYSE:SPR) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Separately, StockNews.com assumed coverage on shares of Spirit AeroSystems in a research note on Wednesday. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.67.

Spirit AeroSystems Stock Up 0.3 %

NYSE SPR opened at $33.26 on Thursday. Spirit AeroSystems has a twelve month low of $25.16 and a twelve month high of $37.08. The business has a 50-day moving average price of $32.12 and a 200-day moving average price of $32.98. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -2.68 and a beta of 1.82.

Spirit AeroSystems (NYSE:SPR) last posted its quarterly earnings results 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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.83 billion. Research analysts expect that Spirit AeroSystems will post -12.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

Several hedge funds and other institutional investors have recently modified their holdings of SPR. Pentwater Capital Management LP increased its stake in Spirit AeroSystems by 18,132.0% in the second quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock worth $296,356,000 after purchasing an additional 9,066,000 shares during the period. National Bank of Canada FI grew its holdings in shares of Spirit AeroSystems by 3,996.6% in the third quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock worth $81,275,000 after purchasing an additional 2,438,974 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in Spirit AeroSystems in the 3rd quarter worth about $77,296,000. Appian Way Asset Management LP bought a new stake in Spirit AeroSystems during the 2nd quarter valued at about $39,969,000. Finally, Bank of Montreal Can lifted its holdings in Spirit AeroSystems by 1,744.2% during the 3rd quarter. Bank of Montreal Can now owns 802,091 shares of the aerospace company’s stock valued at $26,557,000 after buying an additional 758,599 shares in the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

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.