Spirit AeroSystems (NYSE:SPR) Shares Gap Up – Time to Buy?

Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s share price gapped up before the market opened 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 traded.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SPR. StockNews.com began coverage on Spirit AeroSystems in a research report on Saturday, March 8th. They set a “hold” rating on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $37.25 target price on shares of Spirit AeroSystems in a report on Tuesday, February 11th. Fourteen research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Spirit AeroSystems currently has an average rating of “Hold” and a consensus target price of $36.56.

Spirit AeroSystems Price Performance

The stock has a 50-day simple moving average of $33.66 and a 200 day simple moving average of $33.27. The company has a market capitalization of $4.21 billion, a PE ratio of -2.90 and a beta of 1.41.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Friday, February 28th. The aerospace company reported ($4.22) EPS for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts predict that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Institutional Trading of Spirit AeroSystems

Institutional investors have recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Spirit AeroSystems in the fourth quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Spirit AeroSystems in the fourth quarter valued at $32,000. Headlands Technologies LLC purchased a new stake in shares of Spirit AeroSystems in the fourth quarter valued at $67,000. Byrne Asset Management LLC lifted its position in 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 buying an additional 1,390 shares during the period. Finally, Vestcor Inc purchased a new position in Spirit AeroSystems during the fourth quarter worth about $97,000. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

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.