Spirit AeroSystems (NYSE:SPR) Shares Gap Up - Time to Buy?

Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $34.89, but opened at $35.75. Spirit AeroSystems shares last traded at $35.87, with a volume of 302,513 shares traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com initiated coverage on Spirit AeroSystems in a research report on Saturday, March 8th. They issued a "hold" rating for the company. Royal Bank of Canada reissued a "sector perform" rating and set a $37.25 price objective on shares of Spirit AeroSystems in a research report on Tuesday, February 11th. Fourteen investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Spirit AeroSystems presently has an average rating of "Hold" and an average price target of $36.56.

Spirit AeroSystems Price Performance

The business has a 50-day moving average of $33.71 and a 200-day moving average of $33.29. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of -2.90 and a beta of 1.41.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last announced its quarterly earnings data on Friday, February 28th. The aerospace company reported ($4.22) EPS 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 the consensus estimate of $1.94 billion. As a group, equities analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Spirit AeroSystems

Hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd bought a new position in Spirit AeroSystems during the fourth quarter worth $30,000. SBI Securities Co. Ltd. purchased a new position in Spirit AeroSystems in the fourth quarter valued at approximately $32,000. Headlands Technologies LLC bought a new stake in shares of Spirit AeroSystems in the fourth quarter valued at approximately $67,000. Byrne Asset Management LLC increased its position in shares of Spirit AeroSystems by 210.6% during the fourth quarter. Byrne Asset Management LLC now owns 2,050 shares of the aerospace company's stock valued at $70,000 after buying an additional 1,390 shares during the period. Finally, Vestcor Inc bought a new position in shares of Spirit AeroSystems in the fourth quarter worth $97,000. Institutional investors own 93.59% of the company's stock.

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.