Spirit AeroSystems (NYSE:SPR) Shares Gap Up – Should You Buy?

Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $34.89, but opened at $35.75. Spirit AeroSystems shares last traded at $35.87, with a volume of 302,513 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SPR shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $37.25 price objective on shares of Spirit AeroSystems in a research report on Tuesday, February 11th. StockNews.com assumed coverage on Spirit AeroSystems in a research note on Saturday, March 8th. They set a “hold” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Spirit AeroSystems currently has an average rating of “Hold” and an average price target of $36.56.

Spirit AeroSystems Price Performance

The stock has a market cap of $4.17 billion, a price-to-earnings ratio of -2.87 and a beta of 1.41. The firm’s 50-day moving average is $33.60 and its 200 day moving average is $33.22.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Friday, February 28th. The aerospace company reported ($4.22) EPS for the quarter, missing the consensus estimate of ($1.86) by ($2.36). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.94 billion. On average, sell-side analysts forecast that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new position in shares of Spirit AeroSystems during the fourth quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in Spirit AeroSystems during the 4th quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in Spirit AeroSystems in the fourth quarter valued at $67,000. Byrne Asset Management LLC lifted its position in shares of Spirit AeroSystems by 210.6% during the fourth quarter. Byrne Asset Management LLC now owns 2,050 shares of the aerospace company’s stock worth $70,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Vestcor Inc bought a new stake in Spirit AeroSystems during the fourth quarter valued at $97,000. 93.59% of the stock is owned by institutional investors and hedge funds.

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.