Spirit AeroSystems (NYSE:SPR) Shares Down 2.9%

Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s stock price traded down 2.9% during mid-day trading on Tuesday . The stock traded as low as $31.75 and last traded at $31.94. 1,390,257 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 3,968,622 shares. The stock had previously closed at $32.90.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group raised their price target on Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Susquehanna upped their price target on shares of Spirit AeroSystems from $33.00 to $40.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Morgan Stanley dropped their target price on Spirit AeroSystems from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Citigroup started coverage on Spirit AeroSystems in a research report on Wednesday, January 17th. They issued a “buy” rating and a $39.00 target price for the company. Finally, TD Cowen raised Spirit AeroSystems from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $27.00 to $35.00 in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.39.

Spirit AeroSystems Trading Up 0.8 %

The business has a fifty day moving average price of $32.98 and a two-hundred day moving average price of $28.70. The company has a market cap of $3.69 billion, a price-to-earnings ratio of -5.25, a P/E/G ratio of 25.17 and a beta of 1.77.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Tuesday, February 6th. The aerospace company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.84). The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.74 billion. The business’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.46) EPS. On average, analysts anticipate that Spirit AeroSystems Holdings, Inc. will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in Spirit AeroSystems in the fourth quarter worth $26,000. Riverview Trust Co bought a new stake in Spirit AeroSystems during the first quarter worth approximately $35,000. Allspring Global Investments Holdings LLC raised its position in shares of Spirit AeroSystems by 148.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 724 shares during the period. CWM LLC lifted its stake in shares of Spirit AeroSystems by 71.3% in the third quarter. CWM LLC now owns 6,979 shares of the aerospace company’s stock worth $113,000 after buying an additional 2,904 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Spirit AeroSystems during the 4th quarter worth $124,000. 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.