Spirit AeroSystems (NYSE:SPR) Trading Down 2.9%

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) fell 2.9% during mid-day trading on Tuesday . The company traded as low as $31.75 and last traded at $31.94. 1,390,257 shares changed 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 Ratings Changes

SPR has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Spirit AeroSystems from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Truist Financial increased their price target on Spirit AeroSystems from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. StockNews.com raised Spirit AeroSystems from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Stifel Nicolaus increased their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. Finally, The Goldman Sachs Group raised their price target on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.39.

Spirit AeroSystems Trading Down 2.8 %

The stock’s fifty day moving average price is $32.87 and its 200-day moving average price is $28.55. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -5.43, a P/E/G ratio of 13.30 and a beta of 1.77.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Tuesday, February 6th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.84). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.74 billion. Spirit AeroSystems’s revenue was up 37.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.46) EPS. Analysts predict that Spirit AeroSystems Holdings, Inc. will post 0.29 earnings per share for the current year.

Institutional Trading of Spirit AeroSystems

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Spirit AeroSystems by 8.8% in the 4th quarter. Vanguard Group Inc. now owns 10,844,853 shares of the aerospace company’s stock valued at $344,649,000 after purchasing an additional 876,673 shares during the last quarter. Earnest Partners LLC increased its holdings in Spirit AeroSystems by 5.0% in the 3rd quarter. Earnest Partners LLC now owns 4,401,341 shares of the aerospace company’s stock valued at $71,038,000 after purchasing an additional 209,531 shares during the last quarter. Maple Rock Capital Partners Inc. increased its holdings in Spirit AeroSystems by 8.2% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 2,869,900 shares of the aerospace company’s stock valued at $46,320,000 after purchasing an additional 216,900 shares during the last quarter. Sei Investments Co. increased its holdings in Spirit AeroSystems by 39.3% in the 4th quarter. Sei Investments Co. now owns 1,965,370 shares of the aerospace company’s stock valued at $62,459,000 after purchasing an additional 554,666 shares during the last quarter. Finally, Norges Bank acquired a new stake in Spirit AeroSystems in the 4th quarter valued at approximately $62,432,000. Institutional investors and hedge funds own 93.59% of the company’s stock.

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.