Spirit AeroSystems (NYSE:SPR) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Spirit AeroSystems (NYSE:SPR – Get Rating) from a sell rating to a hold rating in a report published on Thursday.

A number of other brokerages have also commented on SPR. Susquehanna dropped their price target on Spirit AeroSystems from $44.00 to $37.00 in a research note on Thursday, May 4th. Benchmark raised Spirit AeroSystems from a hold rating to a buy rating and set a $45.00 price objective for the company in a research report on Wednesday, April 19th. Sanford C. Bernstein lowered their price objective on Spirit AeroSystems from $38.00 to $29.00 in a research report on Thursday, May 4th. TD Cowen lowered Spirit AeroSystems from an outperform rating to a market perform rating and lowered their price objective for the company from $38.00 to $28.00 in a research report on Thursday, May 4th. Finally, Barclays lowered their price objective on Spirit AeroSystems from $50.00 to $40.00 in a research report on Tuesday, May 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Spirit AeroSystems presently has a consensus rating of Hold and an average price target of $35.79.

Spirit AeroSystems Stock Down 1.8 %

Shares of SPR stock opened at $25.54 on Thursday. The stock has a fifty day moving average of $29.54 and a 200 day moving average of $30.53. Spirit AeroSystems has a 52 week low of $21.14 and a 52 week high of $38.55.

Spirit AeroSystems (NYSE:SPR – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The aerospace company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($1.38). Spirit AeroSystems had a negative return on equity of 365.67% and a negative net margin of 14.64%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the business earned $0.03 EPS. The business’s revenue was up 21.8% compared to the same quarter last year. Equities analysts anticipate that Spirit AeroSystems will post -1.43 EPS for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Several large investors have recently bought and sold shares of the business. Verity Asset Management Inc. increased its holdings in Spirit AeroSystems by 5.7% in the 1st quarter. Verity Asset Management Inc. now owns 22,749 shares of the aerospace company’s stock worth $786,000 after buying an additional 1,225 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Spirit AeroSystems by 42.9% in the 1st quarter. Ameriprise Financial Inc. now owns 45,808 shares of the aerospace company’s stock worth $1,473,000 after buying an additional 13,755 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Spirit AeroSystems by 2.7% in the 1st quarter. New York State Common Retirement Fund now owns 457,816 shares of the aerospace company’s stock worth $15,808,000 after buying an additional 11,830 shares in the last quarter. Penn Capital Management Company LLC increased its holdings in Spirit AeroSystems by 13.6% in the 1st quarter. Penn Capital Management Company LLC now owns 567,423 shares of the aerospace company’s stock worth $19,644,000 after buying an additional 67,893 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in Spirit AeroSystems in the 1st quarter worth about $18,563,000. 85.82% of the stock is currently owned by institutional investors.

Spirit AeroSystems Company Profile

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Spirit AeroSystems Holdings, Inc engages in the design and manufacture of aero structures for commercial and defense aircraft. It operates through the following segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment designs and manufactures forward, mid, and rear fuselage sections which related to floor beams, nacelles, struts and pylons, horizontal and vertical stabilizers, flaps and slats and wing structures.