Spirit AeroSystems (NYSE:SPR) Reaches New 12-Month Low - Time to Sell?

Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The company traded as low as $28.35 and last traded at $29.88, with a volume of 825650 shares changing hands. The stock had previously closed at $32.39.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SPR. TD Cowen upgraded Spirit AeroSystems to a "strong-buy" rating in a research report on Thursday, December 19th. StockNews.com initiated coverage on Spirit AeroSystems in a research report on Saturday, March 8th. They issued a "hold" rating for the company. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $37.25 price target on shares of Spirit AeroSystems in a report on Tuesday, February 11th. Fifteen analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $36.00.

Spirit AeroSystems Price Performance

The firm has a market capitalization of $3.87 billion, a PE ratio of -2.66 and a beta of 1.41. The company has a 50-day moving average price of $33.81 and a 200-day moving average price of $33.12.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The aerospace company reported ($4.22) earnings per share for the quarter, missing analysts' consensus estimates of ($1.86) by ($2.36). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.94 billion. On average, research analysts predict that Spirit AeroSystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Institutional Trading of Spirit AeroSystems

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Spirit AeroSystems by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 10,802,296 shares of the aerospace company's stock valued at $368,142,000 after purchasing an additional 203,549 shares during the period. Pentwater Capital Management LP grew its stake in shares of Spirit AeroSystems by 1.3% during the 4th quarter. Pentwater Capital Management LP now owns 9,220,000 shares of the aerospace company's stock valued at $314,218,000 after buying an additional 120,000 shares during the period. National Bank of Canada FI increased its holdings in shares of 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 worth $125,453,000 after buying an additional 1,181,147 shares during the last quarter. Norges Bank purchased a new position in shares of Spirit AeroSystems in the 4th quarter worth $105,879,000. Finally, Alpine Associates Management Inc. boosted its holdings 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 acquiring an additional 714,984 shares during the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

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.