Spirit Aerosystems (NYSE:SPR) Hits New 1-Year High - Here's Why

Shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $39.18 and last traded at $38.76, with a volume of 617327 shares trading hands. The stock had previously closed at $38.91.

Spirit Aerosystems Price Performance

The stock has a market cap of $4.55 billion, a PE ratio of -2.13 and a beta of 1.61. The business has a 50 day simple moving average of $37.31 and a 200 day simple moving average of $35.06.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The aerospace company reported ($4.25) EPS for the quarter, missing the consensus estimate of ($1.14) by ($3.11). The business had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.74 billion. The firm's quarterly revenue was down 10.6% on a year-over-year basis. During the same period last year, the business posted ($3.93) earnings per share. As a group, 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 hedge funds and other institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Spirit Aerosystems during the fourth quarter worth about $32,000. M&T Bank Corp increased its position in shares of Spirit Aerosystems by 12.3% in the fourth quarter. M&T Bank Corp now owns 35,355 shares of the aerospace company's stock valued at $1,204,000 after acquiring an additional 3,880 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Spirit Aerosystems in the fourth quarter valued at about $520,000. Raymond James Financial Inc. acquired a new position in Spirit Aerosystems during the fourth quarter worth approximately $290,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Spirit Aerosystems by 20.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,231 shares of the aerospace company's stock worth $1,030,000 after buying an additional 5,135 shares during the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

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.

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