Spirit AeroSystems (NYSE:SPR) Shares Gap Down – Here’s What Happened

Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $32.53, but opened at $31.50. Spirit AeroSystems shares last traded at $32.10, with a volume of 573,226 shares.

Analysts Set New Price Targets

SPR has been the topic of several research reports. StockNews.com initiated coverage on shares of Spirit AeroSystems in a report on Sunday, November 24th. They set a “sell” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.67.

Spirit AeroSystems Stock Down 1.0 %

The stock has a 50-day moving average of $32.09 and a 200 day moving average of $32.77. The company has a market capitalization of $3.76 billion, a PE ratio of -2.59 and a beta of 1.84.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.83 billion. Equities analysts forecast that Spirit AeroSystems Holdings, Inc. will post -12.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alpine Associates Management Inc. bought a new stake in shares of Spirit AeroSystems in the third quarter valued at $77,296,000. International Assets Investment Management LLC grew its holdings in Spirit AeroSystems by 180,792.9% during the 3rd quarter. International Assets Investment Management LLC now owns 25,325 shares of the aerospace company’s stock valued at $779,000 after buying an additional 25,311 shares in the last quarter. Earnest Partners LLC increased its position in shares of Spirit AeroSystems by 2.6% during the second quarter. Earnest Partners LLC now owns 4,096,268 shares of the aerospace company’s stock valued at $134,644,000 after buying an additional 105,350 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Spirit AeroSystems in the second quarter worth about $924,000. Finally, Creative Planning boosted its holdings in Spirit AeroSystems by 41.0% in the 2nd quarter. Creative Planning now owns 99,014 shares of the aerospace company’s stock valued at $3,255,000 after purchasing an additional 28,775 shares during the period. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

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.