Spirit Aerosystems (NYSE:SPR) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Spirit Aerosystems Holdings, Inc. (NYSE:SPR)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $38.85 and traded as high as $39.63. Spirit Aerosystems shares last traded at $39.4440, with a volume of 11,351,328 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research upgraded shares of Spirit Aerosystems from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spirit Aerosystems in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $38.63.

Spirit Aerosystems Price Performance

The firm has a market capitalization of $4.64 billion, a P/E ratio of -1.78 and a beta of 1.11. The firm’s 50 day moving average is $37.77 and its two-hundred day moving average is $38.87.

Spirit Aerosystems (NYSE:SPR) last announced its quarterly earnings results on Friday, October 31st. The aerospace company reported ($4.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($4.50). The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Spirit Aerosystems’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted ($3.03) EPS. Analysts anticipate that Spirit Aerosystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Spirit Aerosystems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ethic Inc. acquired a new stake in Spirit Aerosystems in the 2nd quarter worth about $400,000. Y Intercept Hong Kong Ltd bought a new position in shares of Spirit Aerosystems during the second quarter worth approximately $3,272,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Spirit Aerosystems in the second quarter valued at approximately $340,000. XTX Topco Ltd boosted its stake in shares of Spirit Aerosystems by 70.6% in the second quarter. XTX Topco Ltd now owns 30,047 shares of the aerospace company’s stock valued at $1,146,000 after buying an additional 12,438 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new stake in Spirit Aerosystems during the second quarter worth approximately $1,747,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

About Spirit Aerosystems

Spirit AeroSystems Holdings, Inc is one of the world’s largest independent manufacturers of aerostructures for commercial and defense aircraft. Established in 2005 as a spin-off from The Boeing Company’s Wichita division, Spirit designs, builds and assembles complex assemblies and components such as fuselages, wing systems, pylons and nacelles. The company’s core business activities center on lightweight composite and aluminum structures, advanced tooling, and aftermarket services to support the full life cycle of an aircraft.

In its commercial segment, Spirit AeroSystems supplies major airframers including Boeing and Airbus, producing critical sections for models such as the 737, 777, 787 and A350 families.