Spirit AeroSystems (NYSE:SPR) Trading Down 4.3%

Spirit AeroSystems Holdings, Inc. (NYSE:SPRGet Free Report)’s share price dropped 4.3% during mid-day trading on Tuesday . The company traded as low as $31.26 and last traded at $31.66. Approximately 1,089,883 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 3,410,551 shares. The stock had previously closed at $33.07.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, March 20th. StockNews.com cut Spirit AeroSystems from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Susquehanna lifted their target price on Spirit AeroSystems from $33.00 to $40.00 and gave the company a “positive” rating in a research report on Friday, April 12th. UBS Group reduced their price target on Spirit AeroSystems from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Finally, Benchmark reiterated a “hold” rating on shares of Spirit AeroSystems in a research note on Thursday, June 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.83.

Check Out Our Latest Analysis on SPR

Spirit AeroSystems Stock Down 5.5 %

The company has a market cap of $3.64 billion, a P/E ratio of -3.61 and a beta of 1.80. The stock has a 50 day moving average price of $31.36 and a two-hundred day moving average price of $31.03.

Spirit AeroSystems (NYSE:SPRGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the firm earned ($1.69) EPS. Spirit AeroSystems’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -2.94 EPS for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Large investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC increased its holdings in Spirit AeroSystems by 0.8% in the 1st quarter. MCF Advisors LLC now owns 41,228 shares of the aerospace company’s stock valued at $1,487,000 after buying an additional 343 shares during the period. Mystic Asset Management Inc. lifted its stake in Spirit AeroSystems by 0.7% during the first quarter. Mystic Asset Management Inc. now owns 52,847 shares of the aerospace company’s stock worth $1,906,000 after purchasing an additional 346 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Spirit AeroSystems by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 46,362 shares of the aerospace company’s stock valued at $1,473,000 after purchasing an additional 460 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Spirit AeroSystems by 3.2% in the 4th quarter. HB Wealth Management LLC now owns 15,035 shares of the aerospace company’s stock valued at $478,000 after purchasing an additional 464 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Spirit AeroSystems by 7.7% in the 4th quarter. CWM LLC now owns 7,516 shares of the aerospace company’s stock valued at $239,000 after purchasing an additional 537 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

About Spirit AeroSystems

(Get Free Report)

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.

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