Spirit Aerosystems Holdings, Inc. (NYSE:SPR) Receives Average Rating of “Reduce” from Analysts

Spirit Aerosystems Holdings, Inc. (NYSE:SPR) has been given an average recommendation of “Reduce” by the four brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $38.6250.

Several research firms have recently commented on SPR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spirit Aerosystems in a report on Wednesday, October 8th. Zacks Research raised shares of Spirit Aerosystems from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th.

Spirit Aerosystems Trading Up 0.1%

SPR stock opened at $39.44 on Wednesday. Spirit Aerosystems has a 12 month low of $27.00 and a 12 month high of $42.33. The company has a market cap of $4.64 billion, a price-to-earnings ratio of -1.78 and a beta of 1.11. The firm has a 50-day moving average of $37.65 and a two-hundred day moving average of $38.79.

Spirit Aerosystems (NYSE:SPR) last announced its quarterly earnings data on Friday, October 31st. The aerospace company reported ($4.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($4.50). The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.92 billion. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.03) EPS. As a group, equities analysts forecast that Spirit Aerosystems will post -11.88 earnings per share for the current year.

Institutional Investors Weigh In On Spirit Aerosystems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its holdings in shares of Spirit Aerosystems by 33,966.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the aerospace company’s stock worth $39,000 after purchasing an additional 1,019 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Spirit Aerosystems by 48.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,029 shares of the aerospace company’s stock worth $39,000 after acquiring an additional 334 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Spirit Aerosystems during the 3rd quarter worth approximately $70,000. SG Americas Securities LLC acquired a new stake in shares of Spirit Aerosystems in the third quarter valued at $155,000. Finally, Corient Private Wealth LLC purchased a new stake in Spirit Aerosystems during the second quarter worth about $204,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

Spirit Aerosystems Company Profile

Spirit AeroSystems Holdings, Inc is one of the world’s largest independent manufacturers of aerostructures for commercial and defense aircraft. Established in 2005 as a spin-off from The Boeing Company’s Wichita division, Spirit designs, builds and assembles complex assemblies and components such as fuselages, wing systems, pylons and nacelles. The company’s core business activities center on lightweight composite and aluminum structures, advanced tooling, and aftermarket services to support the full life cycle of an aircraft.

In its commercial segment, Spirit AeroSystems supplies major airframers including Boeing and Airbus, producing critical sections for models such as the 737, 777, 787 and A350 families.