Spirit AeroSystems (NYSE:SPR) Sets New 12-Month High - Time to Buy?

Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $38.92 and last traded at $38.73, with a volume of 1514447 shares trading hands. The stock had previously closed at $37.94.

Analyst Ratings Changes

SPR has been the topic of a number of research reports. Royal Bank of Canada restated a "sector perform" rating and issued a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, February 11th. Wall Street Zen started coverage on Spirit AeroSystems in a research report on Saturday, March 8th. They set a "hold" rating on the stock. Fourteen equities 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.com, Spirit AeroSystems has a consensus rating of "Hold" and a consensus price target of $36.56.

Spirit AeroSystems Trading Down 0.8%

The business has a 50-day moving average price of $35.37 and a 200 day moving average price of $34.36. The stock has a market capitalization of $4.51 billion, a P/E ratio of -3.09 and a beta of 1.63.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last posted its 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 firm had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.74 billion. The firm's revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.93) EPS. On average, sell-side analysts predict that Spirit AeroSystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in Spirit AeroSystems during the fourth quarter valued at $105,879,000. National Bank of Canada FI grew its holdings in 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 valued at $125,453,000 after purchasing an additional 1,181,147 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Spirit AeroSystems by 73.1% in the 4th 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 purchasing an additional 1,029,989 shares during the period. Millennium Management LLC lifted its stake in Spirit AeroSystems by 51.9% in the first quarter. Millennium Management LLC now owns 2,545,611 shares of the aerospace company's stock worth $87,722,000 after purchasing an additional 870,263 shares during the last quarter. Finally, Alpine Associates Management Inc. boosted its position in shares of Spirit AeroSystems by 30.1% during 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 period. Hedge funds and other institutional investors own 93.59% of the company's stock.

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.