Spirit AeroSystems (NYSE:SPR) Downgraded by StockNews.com

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

Several other research analysts have also weighed in on SPR. Stifel Nicolaus lifted their price objective on Spirit AeroSystems from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group boosted their price target on Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Morgan Stanley reduced their price objective on shares of Spirit AeroSystems from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. TD Cowen upgraded shares of Spirit AeroSystems from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $27.00 to $35.00 in a research report on Thursday, February 8th. Finally, Susquehanna increased their target price on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.83.

Spirit AeroSystems Stock Performance

Shares of SPR traded down $0.12 during mid-day trading on Thursday, reaching $30.78. 1,773,671 shares of the company were exchanged, compared to its average volume of 3,804,806. 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 has a 52 week low of $14.65 and a 52 week high of $36.34. The stock has a market capitalization of $3.57 billion, a PE ratio of -5.08, a PEG ratio of 25.80 and a beta of 1.79.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the firm posted ($1.69) EPS. The business’s revenue was up 19.0% on a year-over-year basis. On average, analysts predict that Spirit AeroSystems will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Spirit AeroSystems by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,968,180 shares of the aerospace company’s stock worth $160,886,000 after buying an additional 51,387 shares during the last quarter. Blue Trust Inc. lifted its stake in Spirit AeroSystems by 33.9% in the fourth quarter. Blue Trust Inc. now owns 6,163 shares of the aerospace company’s stock valued at $196,000 after purchasing an additional 1,562 shares during the last quarter. AQR Capital Management LLC purchased a new position in Spirit AeroSystems in the third quarter valued at approximately $6,748,000. Advisors Asset Management Inc. grew its holdings in Spirit AeroSystems by 4.2% during the third quarter. Advisors Asset Management Inc. now owns 23,604 shares of the aerospace company’s stock valued at $381,000 after purchasing an additional 960 shares during the period. Finally, Fulton Bank N.A. purchased a new stake in Spirit AeroSystems in the fourth quarter worth $253,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Spirit AeroSystems Company Profile

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.