Spirit AeroSystems (NYSE:SPR) Shares Gap Up – Here’s Why

Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $31.73, but opened at $33.00. Spirit AeroSystems shares last traded at $33.34, with a volume of 312,070 shares changing hands.

Wall Street Analyst Weigh In

SPR has been the topic of several recent analyst reports. UBS Group lifted their price target on Spirit AeroSystems from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Robert W. Baird reaffirmed a “neutral” rating and set a $37.25 target price (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. Wolfe Research reissued a “peer perform” rating on shares of Spirit AeroSystems in a report on Wednesday, July 10th. Truist Financial boosted their price objective on shares of Spirit AeroSystems from $30.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Finally, Barclays reaffirmed an “equal weight” rating and set a $37.00 price objective (down previously from $40.00) on shares of Spirit AeroSystems in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.07.

Spirit AeroSystems Stock Up 3.5 %

The stock has a fifty day moving average price of $33.38 and a 200-day moving average price of $32.97.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results 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 analysts’ expectations of $1.57 billion. Spirit AeroSystems’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned ($1.46) EPS. Research analysts predict that Spirit AeroSystems Holdings, Inc. will post -4.67 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

A number of hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its stake in Spirit AeroSystems by 27.7% during the third quarter. Blue Trust Inc. now owns 9,125 shares of the aerospace company’s stock worth $300,000 after buying an additional 1,979 shares during the last quarter. Inspire Investing LLC grew its position in Spirit AeroSystems by 17.7% during the 3rd quarter. Inspire Investing LLC now owns 12,582 shares of the aerospace company’s stock worth $409,000 after acquiring an additional 1,893 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Spirit AeroSystems during the 2nd quarter worth approximately $924,000. Quarry LP increased its holdings in Spirit AeroSystems by 49.0% during the 2nd quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock valued at $75,000 after purchasing an additional 751 shares in the last quarter. Finally, Creative Planning raised its position in Spirit AeroSystems by 41.0% in the 2nd quarter. Creative Planning now owns 99,014 shares of the aerospace company’s stock valued at $3,255,000 after purchasing an additional 28,775 shares during the last quarter. Institutional investors and hedge funds 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.