Spirit AeroSystems (NYSE:SPR) Reaches New 1-Year High - Here's Why

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

Wall Street Analyst Weigh In

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

Spirit AeroSystems Stock Down 0.4%

The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of -3.03 and a beta of 1.63. The business's 50-day moving average is $35.14 and its two-hundred day moving average is $34.20.

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 the consensus estimate of ($1.14) by ($3.11). The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.74 billion. Spirit AeroSystems's revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($3.93) EPS. As a group, analysts forecast that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Several large investors have recently made changes to their positions in SPR. Vanguard Group Inc. increased its stake in Spirit AeroSystems by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 10,802,296 shares of the aerospace company's stock worth $368,142,000 after buying an additional 203,549 shares during the period. Pentwater Capital Management LP increased its position in shares of Spirit AeroSystems by 1.2% in the 1st quarter. Pentwater Capital Management LP now owns 9,330,000 shares of the aerospace company's stock valued at $321,512,000 after purchasing an additional 110,000 shares during the last quarter. National Bank of Canada FI boosted its holdings 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 valued at $125,453,000 after buying an additional 1,181,147 shares in the last quarter. Norges Bank acquired a new position in shares of Spirit AeroSystems in the 4th quarter valued at $105,879,000. Finally, Alpine Associates Management Inc. raised its position in Spirit AeroSystems by 30.1% in the 4th 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 last quarter. 93.59% of the stock is currently 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.