Spirit AeroSystems (NYSE:SPR) Lowered to “Sell” at StockNews.com

Spirit AeroSystems (NYSE:SPR) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Several other equities analysts also recently issued reports on SPR. Citigroup assumed coverage on shares of Spirit AeroSystems in a report on Wednesday, January 17th. They set a “buy” rating and a $39.00 price target for the company. KeyCorp started coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They issued a “sector weight” rating on the stock. Stifel Nicolaus lifted their price objective on Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, March 20th. Truist Financial boosted their price objective on Spirit AeroSystems from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada raised their target price on Spirit AeroSystems from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $32.83.

Spirit AeroSystems Stock Down 0.4 %

SPR traded down $0.12 during midday trading on Thursday, reaching $30.78. 1,773,671 shares of the company’s stock were exchanged, compared to its average volume of 3,804,806. Spirit AeroSystems has a one year low of $14.65 and a one year high of $36.34. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -5.08, a price-to-earnings-growth ratio of 25.80 and a beta of 1.79. The business has a 50-day simple moving average of $33.57 and a two-hundred day simple moving average of $29.66.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) EPS for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the business earned ($1.69) EPS. Spirit AeroSystems’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, research analysts anticipate that Spirit AeroSystems will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Spirit AeroSystems by 8.8% in the fourth quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock valued at $344,649,000 after buying an additional 876,673 shares during the period. Earnest Partners LLC raised its position in shares of Spirit AeroSystems by 5.0% in the 3rd quarter. Earnest Partners LLC now owns 4,401,341 shares of the aerospace company’s stock valued at $71,038,000 after acquiring an additional 209,531 shares during the period. Maple Rock Capital Partners Inc. boosted its stake in Spirit AeroSystems by 8.2% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 2,869,900 shares of the aerospace company’s stock worth $46,320,000 after acquiring an additional 216,900 shares during the last quarter. Sei Investments Co. grew its holdings in Spirit AeroSystems by 39.3% during the fourth quarter. Sei Investments Co. now owns 1,965,370 shares of the aerospace company’s stock valued at $62,459,000 after purchasing an additional 554,666 shares during the period. Finally, Norges Bank bought a new stake in Spirit AeroSystems in the fourth quarter valued at approximately $62,432,000. 93.59% of the stock is currently owned by 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.