Spirit AeroSystems (NYSE:SPR) Sees Large Volume Increase – Should You Buy?

Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) saw unusually-high trading volume on Tuesday . Approximately 1,605,056 shares traded hands during mid-day trading, an increase of 41% from the previous session’s volume of 1,138,916 shares.The stock last traded at $34.87 and had previously closed at $33.89.

Analyst Upgrades and Downgrades

SPR has been the subject of a number of research reports. StockNews.com began coverage on Spirit AeroSystems in a research note on Monday. They issued a “sell” rating for the company. TD Cowen upgraded Spirit AeroSystems to a “strong-buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.67.

Spirit AeroSystems Stock Up 2.4 %

The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -2.81 and a beta of 1.81. The company’s 50-day moving average is $33.39 and its 200-day moving average is $33.34.

Institutional Investors Weigh In On Spirit AeroSystems

Large investors have recently bought and sold shares of the stock. Cerity Partners LLC boosted its stake in shares of Spirit AeroSystems by 59.2% in the third quarter. Cerity Partners LLC now owns 119,111 shares of the aerospace company’s stock valued at $3,872,000 after buying an additional 44,282 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Spirit AeroSystems by 32.0% during the third quarter. JPMorgan Chase & Co. now owns 462,837 shares of the aerospace company’s stock worth $15,047,000 after acquiring an additional 112,286 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in Spirit AeroSystems in the third quarter valued at approximately $77,296,000. International Assets Investment Management LLC lifted its holdings in shares of Spirit AeroSystems by 180,792.9% during the 3rd quarter. International Assets Investment Management LLC now owns 25,325 shares of the aerospace company’s stock valued at $779,000 after acquiring an additional 25,311 shares in the last quarter. Finally, Sand Grove Capital Management LLP purchased a new stake in shares of Spirit AeroSystems in the third quarter worth about $14,099,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

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.