Spirit AeroSystems (NYSE:SPR) Sets New 12-Month High – Time to Buy?

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $37.14 and last traded at $36.83, with a volume of 23406 shares. The stock had previously closed at $36.70.

Analysts Set New Price Targets

SPR has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $37.25 price objective on shares of Spirit AeroSystems in a report on Tuesday, February 11th. StockNews.com initiated coverage on shares of Spirit AeroSystems in a research note on Saturday, March 8th. They issued a “hold” rating for the company. Fourteen analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.56.

Spirit AeroSystems Price Performance

The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -3.00 and a beta of 1.63. The stock’s fifty day moving average price is $34.10 and its 200-day moving average price is $33.56.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Thursday, May 1st. The aerospace company reported ($4.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.14) by ($3.11). The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Spirit AeroSystems’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period last year, the company earned ($3.93) earnings per share. As a group, equities research analysts predict that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Spirit AeroSystems by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 10,802,296 shares of the aerospace company’s stock valued at $368,142,000 after acquiring an additional 203,549 shares during the last quarter. Pentwater Capital Management LP increased its position in shares of Spirit AeroSystems by 1.3% during the fourth quarter. Pentwater Capital Management LP now owns 9,220,000 shares of the aerospace company’s stock valued at $314,218,000 after acquiring an additional 120,000 shares in the last quarter. National Bank of Canada FI lifted its holdings in Spirit AeroSystems by 47.2% in the fourth quarter. National Bank of Canada FI now owns 3,681,147 shares of the aerospace company’s stock valued at $125,453,000 after acquiring an additional 1,181,147 shares during the period. Norges Bank purchased a new position in Spirit AeroSystems during the fourth quarter valued at approximately $105,879,000. Finally, Alpine Associates Management Inc. grew its position in shares of Spirit AeroSystems by 30.1% during the fourth quarter. Alpine Associates Management Inc. now owns 3,092,584 shares of the aerospace company’s stock valued at $105,395,000 after purchasing an additional 714,984 shares in the last quarter. 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.