Investors Purchase Large Volume of Spirit AeroSystems Put Options (NYSE:SPR)

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was the target of some unusual options trading activity on Thursday. Investors bought 41,212 put options on the company. This is an increase of 504% compared to the typical volume of 6,824 put options.

Institutional Trading of Spirit AeroSystems

Large investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Spirit AeroSystems in the first quarter worth about $25,000. Principal Securities Inc. purchased a new position in Spirit AeroSystems in the 4th quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in Spirit AeroSystems in the first quarter valued at approximately $35,000. Allspring Global Investments Holdings LLC raised its stake in shares of Spirit AeroSystems by 148.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 724 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Spirit AeroSystems during the fourth quarter worth $124,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Spirit AeroSystems Stock Performance

Spirit AeroSystems stock opened at $32.94 on Friday. Spirit AeroSystems has a 1 year low of $14.65 and a 1 year high of $36.34. The firm has a 50 day moving average price of $33.26 and a 200 day moving average price of $29.23. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -5.44, a PEG ratio of 25.12 and a beta of 1.79.

Spirit AeroSystems (NYSE:SPR) last issued its earnings results on Tuesday, February 6th. The aerospace company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.84). The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.74 billion. The company’s revenue was up 37.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.46) EPS. Sell-side analysts predict that Spirit AeroSystems will post 0.15 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Cowen upgraded Spirit AeroSystems from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $27.00 to $35.00 in a research note on Thursday, February 8th. Stifel Nicolaus lifted their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, March 20th. The Goldman Sachs Group raised their price objective on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. KeyCorp began coverage on Spirit AeroSystems in a research report on Wednesday, January 17th. They set a “sector weight” rating on the stock. Finally, Citigroup assumed coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They set a “buy” rating and a $39.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.39.

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.