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

StockNews.com started coverage on shares of Spirit AeroSystems (NYSE:SPR) in a research report sent to investors on Sunday morning. The brokerage issued a sell rating on the aerospace company’s stock.

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

Spirit AeroSystems Trading Up 0.5 %

Shares of Spirit AeroSystems stock opened at $32.52 on Friday. Spirit AeroSystems has a twelve month low of $25.16 and a twelve month high of $37.08. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of -2.62 and a beta of 1.84. The company has a fifty day moving average price of $32.11 and a 200 day moving average price of $32.77.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.83 billion. 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. Pentwater Capital Management LP raised its stake in Spirit AeroSystems by 18,132.0% during the second quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock valued at $296,356,000 after buying an additional 9,066,000 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of 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 last quarter. Alpine Associates Management Inc. acquired a new stake in shares of Spirit AeroSystems during the 3rd quarter valued at approximately $77,296,000. Appian Way Asset Management LP bought a new position in Spirit AeroSystems during the second quarter worth $39,969,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Spirit AeroSystems by 405.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,069,600 shares of the aerospace company’s stock worth $35,158,000 after purchasing an additional 858,162 shares during the period. 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.