Stock Traders Buy Large Volume of Spirit AeroSystems Put Options (NYSE:SPR)

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was the target of unusually large options trading on Thursday. Traders purchased 41,212 put options on the company. This represents an increase of 504% compared to the average daily volume of 6,824 put options.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. KeyCorp assumed coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They set a “sector weight” rating for the company. Citigroup assumed coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They set a “buy” rating and a $39.00 price objective for the company. StockNews.com upgraded Spirit AeroSystems from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. TD Cowen upgraded Spirit AeroSystems from a “market perform” rating to an “outperform” rating and raised their price target for the company from $27.00 to $35.00 in a research note on Thursday, February 8th. Finally, Stifel Nicolaus raised their price target on Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Spirit AeroSystems has a consensus rating of “Hold” and an average price target of $31.39.

Spirit AeroSystems Trading Up 4.4 %

NYSE SPR traded up $1.42 during midday trading on Thursday, hitting $33.49. The company had a trading volume of 833,904 shares, compared to its average volume of 3,839,620. The company has a market capitalization of $3.89 billion, a PE ratio of -5.50, a P/E/G ratio of 25.07 and a beta of 1.79. The firm has a 50-day moving average price of $33.18 and a 200-day moving average price of $29.20. Spirit AeroSystems has a twelve month low of $14.65 and a twelve month high of $36.34.

Spirit AeroSystems (NYSE:SPR) last announced 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 during the quarter, compared to analysts’ expectations of $1.74 billion. Spirit AeroSystems’s quarterly revenue was up 37.3% on a year-over-year basis. During the same period in the previous year, the company earned ($1.46) earnings per share. On average, equities analysts anticipate that Spirit AeroSystems will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Spirit AeroSystems

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Spirit AeroSystems by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,968,180 shares of the aerospace company’s stock valued at $160,886,000 after purchasing an additional 51,387 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Spirit AeroSystems by 33.9% in the 4th quarter. Blue Trust Inc. now owns 6,163 shares of the aerospace company’s stock valued at $196,000 after purchasing an additional 1,562 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Spirit AeroSystems in the 3rd quarter valued at $6,748,000. Advisors Asset Management Inc. increased its stake in shares of Spirit AeroSystems by 4.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 23,604 shares of the aerospace company’s stock valued at $381,000 after purchasing an additional 960 shares during the last quarter. Finally, Fulton Bank N.A. bought a new position in shares of Spirit AeroSystems in the 4th quarter valued at $253,000. 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.