Spirit AeroSystems (NYSE:SPR) Downgraded by SunTrust Banks to “Sell”

Spirit AeroSystems (NYSE:SPR) was downgraded by equities research analysts at SunTrust Banks from a “hold” rating to a “sell” rating in a note issued to investors on Friday, The Fly reports.

A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Spirit AeroSystems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. Cowen reissued a “hold” rating and issued a $93.00 price target on shares of Spirit AeroSystems in a report on Wednesday, May 1st. Seaport Global Securities lowered shares of Spirit AeroSystems from a “buy” rating to a “neutral” rating and set a $98.64 price target on the stock. in a report on Tuesday, March 5th. Vertical Research lowered shares of Spirit AeroSystems from a “buy” rating to a “hold” rating and set a $103.00 price target on the stock. in a report on Wednesday, March 6th. Finally, Barclays reissued a “buy” rating on shares of Spirit AeroSystems in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $101.47.

Shares of NYSE:SPR opened at $83.52 on Friday. The firm has a market capitalization of $8.54 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.51 and a beta of 1.36. Spirit AeroSystems has a 52 week low of $64.48 and a 52 week high of $100.34. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.39 and a current ratio of 1.95.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results on Wednesday, May 1st. The aerospace company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.01. The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Spirit AeroSystems had a net margin of 8.78% and a return on equity of 63.36%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 EPS. As a group, equities analysts forecast that Spirit AeroSystems will post 7.04 earnings per share for the current fiscal year.

In other news, Director Robert D. Johnson sold 500 shares of Spirit AeroSystems stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $79.95, for a total transaction of $39,975.00. Following the sale, the director now owns 2,925 shares of the company’s stock, valued at approximately $233,853.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.84% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Spirit AeroSystems by 5.8% during the 1st quarter. AQR Capital Management LLC now owns 4,654,106 shares of the aerospace company’s stock valued at $425,944,000 after purchasing an additional 255,883 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Spirit AeroSystems by 100.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,620,026 shares of the aerospace company’s stock valued at $148,281,000 after purchasing an additional 812,131 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. boosted its stake in shares of Spirit AeroSystems by 6.1% during the 1st quarter. TPG Group Holdings SBS Advisors Inc. now owns 1,196,753 shares of the aerospace company’s stock valued at $109,539,000 after purchasing an additional 69,200 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Spirit AeroSystems by 16.6% during the 4th quarter. Geode Capital Management LLC now owns 1,113,218 shares of the aerospace company’s stock valued at $80,201,000 after purchasing an additional 158,183 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Spirit AeroSystems by 24.8% during the 1st quarter. Voya Investment Management LLC now owns 981,195 shares of the aerospace company’s stock valued at $89,808,000 after purchasing an additional 194,984 shares in the last quarter. 96.61% of the stock is currently owned by hedge funds and other institutional investors.

About Spirit AeroSystems

Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and related spares, as well as maintenance, repairs, and overhaul (MRO) services.

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Analyst Recommendations for Spirit AeroSystems (NYSE:SPR)

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