StockNews.com assumed coverage on shares of Spirit AeroSystems (NYSE:SPR – Free Report) in a report published on Thursday. The firm issued a hold rating on the aerospace company’s stock.

Several other brokerages have also issued reports on SPR. Sanford C. Bernstein lowered their target price on Spirit AeroSystems from $38.00 to $29.00 in a research report on Thursday, May 4th. The Goldman Sachs Group downgraded Spirit AeroSystems from a buy rating to a neutral rating and decreased their price target for the stock from $45.00 to $30.00 in a report on Wednesday, August 2nd. Barclays decreased their price target on Spirit AeroSystems from $40.00 to $30.00 and set an overweight rating for the company in a report on Tuesday, August 8th. Royal Bank of Canada decreased their price target on Spirit AeroSystems from $32.00 to $26.00 and set a sector perform rating for the company in a report on Thursday, August 3rd. Finally, TD Cowen cut shares of Spirit AeroSystems from an outperform rating to a market perform rating and dropped their price target for the company from $38.00 to $28.00 in a research report on Thursday, May 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $29.92.

Get Spirit AeroSystems alerts:

Get Our Latest Research Report on Spirit AeroSystems

Spirit AeroSystems Stock Up 1.3 %

Shares of SPR traded up $0.28 during trading hours on Thursday, reaching $21.47. The stock had a trading volume of 2,088,377 shares, compared to its average volume of 2,652,269. Spirit AeroSystems has a 12 month low of $20.60 and a 12 month high of $38.55. The company’s 50-day moving average is $27.96 and its two-hundred day moving average is $30.01.

Spirit AeroSystems (NYSE:SPR – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported ($1.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.67). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.31 billion. Spirit AeroSystems had a negative net margin of 15.91% and a negative return on equity of 365.67%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.21) earnings per share. As a group, sell-side analysts anticipate that Spirit AeroSystems will post -3.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Estabrook Capital Management boosted its stake in shares of Spirit AeroSystems by 319.6% during the 4th quarter. Estabrook Capital Management now owns 965 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 735 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Spirit AeroSystems during the 2nd quarter valued at $29,000. Money Concepts Capital Corp lifted its stake in shares of Spirit AeroSystems by 1,076.9% during the 4th quarter. Money Concepts Capital Corp now owns 1,224 shares of the aerospace company’s stock valued at $36,000 after buying an additional 1,120 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Spirit AeroSystems by 39.6% during the 4th quarter. Signaturefd LLC now owns 1,637 shares of the aerospace company’s stock valued at $48,000 after buying an additional 464 shares in the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of Spirit AeroSystems during the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Spirit AeroSystems Company Profile

(Get Free Report)

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, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and fully functional and tested wing systems.

Read More

Receive News & Ratings for Spirit AeroSystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit AeroSystems and related companies with MarketBeat.com's FREE daily email newsletter.