Spirit AeroSystems (NYSE:SPR) Stock Price Down 2.9%

Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s share price dropped 2.9% during trading on Tuesday . The stock traded as low as $31.75 and last traded at $31.94. Approximately 1,390,257 shares were traded during trading, a decline of 65% from the average daily volume of 3,968,622 shares. The stock had previously closed at $32.90.

Analyst Ratings Changes

A number of brokerages have weighed in on SPR. TD Cowen raised Spirit AeroSystems from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $27.00 to $35.00 in a research report on Thursday, February 8th. Truist Financial increased their price objective on shares of Spirit AeroSystems from $26.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Morgan Stanley cut their price objective on Spirit AeroSystems from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. KeyCorp assumed coverage on shares of Spirit AeroSystems in a research note on Wednesday, January 17th. They set a “sector weight” rating on the stock. Finally, Susquehanna lifted their price objective on Spirit AeroSystems from $33.00 to $40.00 and gave the company a “positive” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.39.

Spirit AeroSystems Stock Up 0.8 %

The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of -5.25, a price-to-earnings-growth ratio of 25.17 and a beta of 1.77. The business’s 50-day moving average is $32.98 and its two-hundred day moving average is $28.70.

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 the consensus estimate of $1.32 by ($0.84). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the company posted ($1.46) EPS. Spirit AeroSystems’s revenue was up 37.3% on a year-over-year basis. As a group, analysts forecast that Spirit AeroSystems Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SPR. Vanguard Group Inc. boosted its holdings in Spirit AeroSystems by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,968,180 shares of the aerospace company’s stock valued at $160,886,000 after purchasing an additional 51,387 shares during the last quarter. Blue Trust Inc. grew its position in Spirit AeroSystems by 33.9% in the fourth quarter. Blue Trust Inc. now owns 6,163 shares of the aerospace company’s stock worth $196,000 after acquiring an additional 1,562 shares during the period. AQR Capital Management LLC acquired a new stake in Spirit AeroSystems during the third quarter worth $6,748,000. Advisors Asset Management Inc. grew its holdings in shares of Spirit AeroSystems by 4.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 23,604 shares of the aerospace company’s stock worth $381,000 after purchasing an additional 960 shares during the period. Finally, Fulton Bank N.A. acquired a new stake in shares of Spirit AeroSystems during the 4th quarter worth about $253,000. 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.