Spirit AeroSystems (NYSE:SPR) Trading Down 4.3%

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) shares were down 4.3% during trading on Tuesday . The company traded as low as $31.26 and last traded at $31.66. Approximately 1,089,883 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 3,410,551 shares. The stock had previously closed at $33.07.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SPR. StockNews.com lowered Spirit AeroSystems from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. UBS Group lowered their price target on Spirit AeroSystems from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. The Goldman Sachs Group increased their price objective on shares of Spirit AeroSystems from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Stifel Nicolaus lifted their target price on shares of Spirit AeroSystems from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, March 20th. Finally, Royal Bank of Canada upped their target price on shares of Spirit AeroSystems from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.83.

Spirit AeroSystems Stock Performance

The stock has a 50 day simple moving average of $31.30 and a 200-day simple moving average of $31.06.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($3.93) EPS for the quarter, missing the consensus estimate of ($0.44) by ($3.49). The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the firm earned ($1.69) earnings per share. The firm’s revenue was up 19.0% on a year-over-year basis. On average, equities research analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -2.94 earnings per share for the current year.

Institutional Investors Weigh In On Spirit AeroSystems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank increased its position in shares of Spirit AeroSystems by 47.9% during the 1st quarter. Comerica Bank now owns 6,929 shares of the aerospace company’s stock valued at $250,000 after purchasing an additional 2,244 shares during the last quarter. California State Teachers Retirement System increased its holdings in Spirit AeroSystems by 3.2% in the 1st quarter. California State Teachers Retirement System now owns 115,912 shares of the aerospace company’s stock worth $4,181,000 after acquiring an additional 3,562 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Spirit AeroSystems in the 1st quarter worth approximately $267,000. Maple Rock Capital Partners Inc. increased its holdings in Spirit AeroSystems by 7.2% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 4,423,000 shares of the aerospace company’s stock worth $159,538,000 after acquiring an additional 296,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Spirit AeroSystems by 7.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 47,226 shares of the aerospace company’s stock worth $1,703,000 after acquiring an additional 3,454 shares in the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.

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.