Spirit Aerosystems (NYSE:SPR) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Weiss Ratings has issued a "sell (D-)" rating for Spirit Aerosystems, indicating concerns about the stock's performance.
• Spirit Aerosystems reported a significant earnings miss, with EPS of -$3.34 compared to a consensus estimate of -$0.52.
• Despite one analyst rating it as a Strong Buy, the overall consensus rating for the stock is a Hold with an average target price of $38.63.

Spirit Aerosystems (NYSE:SPR - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 9th. Susquehanna boosted their price objective on shares of Spirit Aerosystems from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, Zacks Research raised shares of Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $38.63.

Spirit Aerosystems Price Performance

SPR stock opened at $39.46 on Friday. The company has a fifty day moving average price of $39.58 and a 200 day moving average price of $38.24. 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 $4.63 billion, a price-to-earnings ratio of -1.97 and a beta of 1.70.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($2.82). The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.82 billion. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.73) earnings per share. As a group, analysts anticipate that Spirit Aerosystems will post -11.88 earnings per share for the current year.

Institutional Investors Weigh In On Spirit Aerosystems

A number of large investors have recently added to or reduced their stakes in SPR. Norges Bank acquired a new stake in Spirit Aerosystems in the 2nd quarter valued at about $95,804,000. Balyasny Asset Management L.P. lifted its holdings in Spirit Aerosystems by 25.7% in the 2nd quarter. Balyasny Asset Management L.P. now owns 6,502,847 shares of the aerospace company's stock valued at $248,084,000 after purchasing an additional 1,328,419 shares in the last quarter. National Bank of Canada FI lifted its holdings in Spirit Aerosystems by 32.1% in the 2nd quarter. National Bank of Canada FI now owns 3,643,692 shares of the aerospace company's stock valued at $139,007,000 after purchasing an additional 884,788 shares in the last quarter. Millennium Management LLC lifted its holdings in Spirit Aerosystems by 51.9% in the 1st quarter. Millennium Management LLC now owns 2,545,611 shares of the aerospace company's stock valued at $87,722,000 after purchasing an additional 870,263 shares in the last quarter. Finally, State Street Corp lifted its holdings in Spirit Aerosystems by 14.3% in the 2nd quarter. State Street Corp now owns 4,803,541 shares of the aerospace company's stock valued at $183,255,000 after purchasing an additional 600,891 shares in the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

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.

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