Spirit Aerosystems (NYSE:SPR) Rating Increased to Hold at Wall Street Zen

Key Points

• Spirit Aerosystems was upgraded from a "strong sell" to a "hold" rating by Wall Street Zen, indicating a potential shift in investor sentiment.
• Susquehanna raised the target price for Spirit Aerosystems from $37.00 to $40.00 while maintaining a "neutral" rating, reflecting caution amidst performance uncertainties.
• The company's recent quarterly earnings showed a significant loss of ($3.34) EPS, missing analysts' estimates and indicating challenges in meeting revenue expectations.

Spirit Aerosystems (NYSE:SPR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a report issued on Saturday.

Separately, Susquehanna upped their price target on Spirit Aerosystems from $37.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th.

Spirit Aerosystems Price Performance

SPR stock traded up $0.12 during trading on Friday, hitting $40.63. 144,819 shares of the stock traded hands, compared to its average volume of 1,209,789. Spirit Aerosystems has a 1 year low of $27.00 and a 1 year high of $42.33. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of -2.03 and a beta of 1.70. The firm's 50 day moving average is $38.93 and its two-hundred day moving average is $36.17.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its position 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 valued at $39,000 after buying an additional 1,019 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Spirit Aerosystems by 48.1% in the second quarter. Farther Finance Advisors LLC now owns 1,029 shares of the aerospace company's stock valued at $39,000 after purchasing an additional 334 shares during the last quarter. Byrne Asset Management LLC grew its stake in Spirit Aerosystems by 128.2% in the first quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock valued at $161,000 after purchasing an additional 2,629 shares during the last quarter. Maryland State Retirement & Pension System purchased a new position in Spirit Aerosystems in the second quarter valued at about $207,000. Finally, Russell Investments Group Ltd. raised its stake in Spirit Aerosystems by 48.0% in the first quarter. Russell Investments Group Ltd. now owns 6,061 shares of the aerospace company's stock valued at $209,000 after buying an additional 1,967 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company's stock.

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.