Spirit AeroSystems (NYSE:SPR) Reaches New 52-Week High - Here's Why

Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $38.43 and last traded at $38.22, with a volume of 1225215 shares traded. The stock had previously closed at $37.86.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank of Canada reissued a "sector perform" rating and set a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, February 11th. Wall Street Zen assumed coverage on Spirit AeroSystems in a research note on Saturday, March 8th. They set a "hold" rating on the stock. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Spirit AeroSystems currently has an average rating of "Hold" and an average price target of $36.56.

Spirit AeroSystems Stock Performance

The company has a fifty day simple moving average of $35.28 and a two-hundred day simple moving average of $34.28. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of -3.05 and a beta of 1.63.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The aerospace company reported ($4.25) earnings per share 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 the consensus estimate of $1.74 billion. The business's revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($3.93) EPS. As a group, analysts expect that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SPR. Norges Bank purchased a new position in shares of Spirit AeroSystems in the 4th quarter worth $105,879,000. National Bank of Canada FI raised its position in shares of Spirit AeroSystems by 47.2% in 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 buying an additional 1,181,147 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of 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 buying an additional 1,029,989 shares during the period. Millennium Management LLC raised its position 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 valued at $87,722,000 after purchasing an additional 870,263 shares during the period. Finally, Alpine Associates Management Inc. raised its position in 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 purchasing an additional 714,984 shares during the period. 93.59% of the stock is 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.