Spirit Aerosystems (NYSE:SPR) Rating Increased to Hold at Zacks Research

Key Points

• Spirit Aerosystems has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment regarding the company's stock.
• Analysts at Susquehanna raised their price target for Spirit Aerosystems from $37 to $40, indicating a more favorable outlook.
• Spirit Aerosystems reported a loss of $3.34 per share in its latest earnings, missing the consensus estimate significantly while showing a year-over-year revenue increase of 9.6%.

Spirit Aerosystems (NYSE:SPR - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Susquehanna increased their price target on Spirit Aerosystems from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Wall Street Zen upgraded Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Spirit Aerosystems has an average rating of "Moderate Buy" and a consensus price target of $38.63.

Spirit Aerosystems Stock Up 0.1%

Spirit Aerosystems stock traded up $0.03 during mid-day trading on Monday, hitting $38.63. The company had a trading volume of 3,241,468 shares, compared to its average volume of 860,765. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of -1.93 and a beta of 1.74. Spirit Aerosystems has a 1 year low of $27.00 and a 1 year high of $42.33. The business has a fifty day moving average of $40.33 and a 200 day moving average of $37.34.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The aerospace company reported ($3.34) 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 firm's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.73) EPS. Equities analysts anticipate that Spirit Aerosystems will post -11.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SPR. Quantinno Capital Management LP grew its holdings in Spirit Aerosystems by 78.1% in the 4th quarter. Quantinno Capital Management LP now owns 30,679 shares of the aerospace company's stock valued at $1,046,000 after buying an additional 13,450 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Spirit Aerosystems by 10.0% in the 4th quarter. ProShare Advisors LLC now owns 7,731 shares of the aerospace company's stock worth $263,000 after acquiring an additional 703 shares during the period. Rafferty Asset Management LLC increased its holdings in Spirit Aerosystems by 5.0% during the 4th quarter. Rafferty Asset Management LLC now owns 29,930 shares of the aerospace company's stock valued at $1,020,000 after purchasing an additional 1,418 shares in the last quarter. Royal Bank of Canada increased its holdings in Spirit Aerosystems by 28.7% during the 4th quarter. Royal Bank of Canada now owns 659,083 shares of the aerospace company's stock valued at $22,461,000 after purchasing an additional 147,129 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Spirit Aerosystems by 22.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 258,169 shares of the aerospace company's stock valued at $8,798,000 after buying an additional 47,356 shares during the period. 93.59% of the stock is owned by institutional investors and hedge funds.

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.