Spirit AeroSystems (NYSE:SPR) Hits New 52-Week High - Time to Buy?

Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Get Free Report) hit a new 52-week high 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.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SPR shares. Wall Street Zen started coverage on shares of Spirit AeroSystems in a research note on Saturday, March 8th. They set a "hold" rating for the company. Royal Bank of Canada reissued a "sector perform" rating and set a $37.25 target price on shares of Spirit AeroSystems in a research note on Tuesday, February 11th. Fourteen analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $36.56.

Spirit AeroSystems Stock Down 1.2%

The firm's 50-day moving average price is $34.97 and its 200 day moving average price is $34.04. The company has a market capitalization of $4.38 billion, a P/E ratio of -3.01 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) EPS for the quarter, missing the consensus estimate of ($1.14) by ($3.11). The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.74 billion. Spirit AeroSystems's quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($3.93) earnings per share. As a group, equities research analysts expect that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bayforest Capital Ltd purchased a new position in Spirit AeroSystems during the first quarter worth about $692,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Spirit AeroSystems by 16.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 301,727 shares of the aerospace company's stock worth $10,398,000 after purchasing an additional 43,558 shares during the last quarter. Empowered Funds LLC boosted its stake 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 during the last quarter. Aristeia Capital L.L.C. purchased a new position in Spirit AeroSystems in the first quarter valued at about $238,000. Finally, Caxton Associates LLP purchased a new position in Spirit AeroSystems in the first quarter valued at about $4,835,000. 93.59% of the stock is currently 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.