Spirit Aerosystems (NYSE:SPR) Reaches New 52-Week High - Still a Buy?

Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $39.02 and last traded at $38.98, with a volume of 143564 shares traded. The stock had previously closed at $38.44.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on Spirit Aerosystems in a research report on Saturday, March 8th. They set a "hold" rating on the stock. Ten analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Spirit Aerosystems presently has an average rating of "Hold" and an average target price of $36.79.

Spirit Aerosystems Stock Performance

The firm's 50 day moving average price is $37.20 and its 200-day moving average price is $34.98. The firm has a market capitalization of $4.34 billion, a PE ratio of -2.03, a price-to-earnings-growth ratio of 2.38 and a beta of 1.61.

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 (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 analyst estimates of $1.74 billion. During the same quarter in the prior year, the firm posted ($3.93) earnings per share. The firm's quarterly revenue was down 10.6% on a year-over-year basis. On average, equities research analysts expect that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spirit Aerosystems

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Spirit Aerosystems in the 4th quarter valued at about $32,000. Headlands Technologies LLC purchased a new position in Spirit Aerosystems in the 4th quarter valued at about $67,000. Vestcor Inc purchased a new position in Spirit Aerosystems in the 4th quarter valued at about $97,000. Senator Investment Group LP lifted its stake in Spirit Aerosystems by 415.3% in the 4th quarter. Senator Investment Group LP now owns 92,000 shares of the aerospace company's stock valued at $124,000 after buying an additional 74,145 shares in the last quarter. Finally, Byrne Asset Management LLC lifted its stake in Spirit Aerosystems by 128.2% in the 1st quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock valued at $161,000 after buying an additional 2,629 shares in the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

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.