Spirit AeroSystems (NYSE:SPR) Reaches New 12-Month High – Here’s What Happened

Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $37.14 and last traded at $36.83, with a volume of 23406 shares. The stock had previously closed at $36.70.

Wall Street Analyst Weigh In

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

Spirit AeroSystems Stock Performance

The firm has a market cap of $4.31 billion, a PE ratio of -2.96 and a beta of 1.63. The stock’s fifty day moving average price is $33.96 and its 200-day moving average price is $33.50.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Thursday, May 1st. The aerospace company reported ($4.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.14) by ($3.11). The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.74 billion. Spirit AeroSystems’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.93) EPS. Sell-side analysts forecast that Spirit AeroSystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

Several institutional investors and hedge funds have recently made changes to their positions in SPR. Norges Bank acquired a new stake in shares of Spirit AeroSystems during the fourth quarter valued at $105,879,000. National Bank of Canada FI boosted its stake in shares of Spirit AeroSystems by 47.2% during the 4th quarter. National Bank of Canada FI now owns 3,681,147 shares of the aerospace company’s stock worth $125,453,000 after purchasing an additional 1,181,147 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Spirit AeroSystems by 73.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,438,791 shares of the aerospace company’s stock worth $83,114,000 after buying an additional 1,029,989 shares in the last quarter. Alpine Associates Management Inc. raised its position in shares of Spirit AeroSystems by 30.1% in the fourth quarter. Alpine Associates Management Inc. now owns 3,092,584 shares of the aerospace company’s stock valued at $105,395,000 after buying an additional 714,984 shares during the last quarter. Finally, TIG Advisors LLC grew its stake in Spirit AeroSystems by 66.8% in the 4th quarter. TIG Advisors LLC now owns 1,739,094 shares of the aerospace company’s stock worth $59,268,000 after acquiring an additional 696,533 shares during the period. 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.