Spirit AeroSystems (NYSE:SPR) Hits New 12-Month High at $36.78

Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $36.78 and last traded at $36.75, with a volume of 311447 shares trading hands. The stock had previously closed at $36.26.

Analyst Upgrades and Downgrades

SPR has been the topic of several research reports. Sanford C. Bernstein restated a “market perform” rating on shares of Spirit AeroSystems in a research note on Monday, July 8th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spirit AeroSystems in a research report on Wednesday, July 10th. Royal Bank of Canada raised their price objective on Spirit AeroSystems from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 8th. Benchmark reaffirmed a “hold” rating on shares of Spirit AeroSystems in a report on Thursday, June 20th. Finally, Citigroup reiterated a “neutral” rating and issued a $37.25 target price (down from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.60.

Spirit AeroSystems Price Performance

The company has a market capitalization of $4.29 billion, a PE ratio of -4.19 and a beta of 1.84. The stock’s 50 day simple moving average is $32.71 and its 200-day simple moving average is $31.83.

Spirit AeroSystems (NYSE:SPR) last issued its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.49). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the business earned ($1.69) EPS. Spirit AeroSystems’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities analysts predict that Spirit AeroSystems Holdings, Inc. will post -3.93 earnings per share for the current year.

Institutional Trading of Spirit AeroSystems

A number of large investors have recently made changes to their positions in SPR. Steadfast Capital Management LP increased its stake in shares of Spirit AeroSystems by 1,274.6% during the first quarter. Steadfast Capital Management LP now owns 4,714,874 shares of the aerospace company’s stock worth $170,066,000 after buying an additional 4,371,874 shares during the period. Norges Bank purchased a new position in Spirit AeroSystems in the fourth quarter valued at approximately $62,432,000. Balyasny Asset Management L.P. increased its stake in Spirit AeroSystems by 495.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,737,893 shares of the aerospace company’s stock valued at $55,230,000 after purchasing an additional 1,445,994 shares during the last quarter. Vanguard Group Inc. increased its stake in Spirit AeroSystems by 8.8% in the fourth 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. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Spirit AeroSystems by 405.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,069,600 shares of the aerospace company’s stock worth $35,158,000 after purchasing an additional 858,162 shares during the period. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

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.