Spirit AeroSystems (NYSE:SPR) Trading Down 2.9%

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group lifted their price objective on Spirit AeroSystems from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. KeyCorp assumed coverage on Spirit AeroSystems in a report on Wednesday, January 17th. They set a “sector weight” rating for the company. Truist Financial lifted their price objective on Spirit AeroSystems from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. 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 for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.39.

Spirit AeroSystems Stock Down 2.8 %

The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of -5.43, a PEG ratio of 13.30 and a beta of 1.77. The stock has a fifty day moving average price of $32.87 and a two-hundred day moving average price of $28.55.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Tuesday, February 6th. The aerospace company reported $0.48 EPS for the quarter, missing the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.46) EPS. As a group, research analysts forecast that Spirit AeroSystems Holdings, Inc. will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Several institutional investors have recently added to or reduced their stakes in the business. Principal Securities Inc. purchased a new stake in Spirit AeroSystems during the fourth quarter valued at about $26,000. Riverview Trust Co purchased a new stake in shares of Spirit AeroSystems in the first quarter worth about $35,000. Allspring Global Investments Holdings LLC boosted its position in shares of Spirit AeroSystems by 148.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company’s stock worth $44,000 after buying an additional 724 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Spirit AeroSystems in the fourth quarter worth about $124,000. Finally, Ronald Blue Trust Inc. boosted its position in shares of Spirit AeroSystems by 531.1% in the third quarter. Ronald Blue Trust Inc. now owns 4,601 shares of the aerospace company’s stock worth $74,000 after buying an additional 3,872 shares during the period. 93.59% of the stock is currently 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.