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

Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $38.33 and last traded at $38.03, with a volume of 462327 shares. The stock had previously closed at $37.32.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on 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 report on Tuesday, February 11th. Wall Street Zen started coverage on shares of Spirit AeroSystems in a report on Saturday, March 8th. They set a "hold" rating on the stock. Fourteen research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Spirit AeroSystems presently has an average rating of "Hold" and a consensus target price of $36.56.

Spirit AeroSystems Stock Up 1.3%

The company has a fifty day moving average of $34.97 and a two-hundred day moving average of $34.09. The stock has a market capitalization of $4.44 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 data on Thursday, May 1st. The aerospace company reported ($4.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.14) by ($3.11). The company had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the previous year, the company posted ($3.93) earnings per share. The business's revenue was down 10.6% compared to the same quarter last year. Equities analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

A number of institutional investors have recently made changes to their positions in SPR. Treasurer of the State of North Carolina raised its holdings in Spirit AeroSystems by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 50,980 shares of the aerospace company's stock valued at $1,737,000 after acquiring an additional 320 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Spirit AeroSystems by 10.0% in the fourth quarter. ProShare Advisors LLC now owns 7,731 shares of the aerospace company's stock valued at $263,000 after purchasing an additional 703 shares during the period. R Squared Ltd purchased a new stake in shares of Spirit AeroSystems during the fourth quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Spirit AeroSystems in the 4th quarter valued at approximately $32,000. Finally, Empowered Funds LLC raised its holdings in Spirit AeroSystems by 9.7% in the first quarter. Empowered Funds LLC now owns 11,793 shares of the aerospace company's stock valued at $406,000 after acquiring an additional 1,044 shares in 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.