Spirit AeroSystems (NYSE:SPR) Shares Gap Down – What’s Next?

Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) gapped down prior to trading on Thursday . The stock had previously closed at $32.65, but opened at $31.51. Spirit AeroSystems shares last traded at $32.30, with a volume of 202,162 shares.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SPR shares. Truist Financial upped their price target on Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. UBS Group lifted their price objective on Spirit AeroSystems from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. StockNews.com initiated coverage on Spirit AeroSystems in a research report on Wednesday. They set a “sell” rating on the stock. Susquehanna reissued a “neutral” rating and set a $37.00 target price (down previously from $40.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 17th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $37.25 price objective (down previously from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Spirit AeroSystems has a consensus rating of “Hold” and a consensus target price of $35.54.

Spirit AeroSystems Price Performance

The stock has a 50-day moving average price of $33.31 and a 200 day moving average price of $32.94. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -3.17 and a beta of 1.85.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings data on Monday, August 5th. The aerospace company reported ($2.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($1.75). The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the company earned ($1.46) earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts predict that Spirit AeroSystems Holdings, Inc. will post -4.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in Spirit AeroSystems by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company’s stock valued at $723,000 after purchasing an additional 332 shares in the last quarter. MCF Advisors LLC increased its stake in shares of Spirit AeroSystems by 0.8% in the first quarter. MCF Advisors LLC now owns 41,228 shares of the aerospace company’s stock valued at $1,487,000 after purchasing an additional 343 shares during the period. Mystic Asset Management Inc. increased its stake in shares of Spirit AeroSystems by 0.7% during the first quarter. Mystic Asset Management Inc. now owns 52,847 shares of the aerospace company’s stock valued at $1,906,000 after acquiring an additional 346 shares during the period. Ensign Peak Advisors Inc raised its holdings in Spirit AeroSystems by 1.4% during the second quarter. Ensign Peak Advisors Inc now owns 35,466 shares of the aerospace company’s stock worth $1,166,000 after purchasing an additional 500 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of Spirit AeroSystems by 6.4% in the second quarter. Inspire Investing LLC now owns 10,689 shares of the aerospace company’s stock valued at $351,000 after buying an additional 643 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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.