Spirit Aerosystems (NYSE:SPR) Shares Gap Up - Here's Why

Key Points

• Shares of Spirit Aerosystems opened higher at $39.92, up from a previous close of $38.36.
• Analysts have recently adjusted price targets, with a consensus target of $38.63 and ratings ranging from "Hold" to "Moderate Buy."
• Following earnings results that missed expectations, Spirit Aerosystems reported a net loss per share of ($3.34) for the last quarter.

Shares of Spirit Aerosystems Holdings, Inc. (NYSE:SPR - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $38.36, but opened at $39.92. Spirit Aerosystems shares last traded at $39.70, with a volume of 210,923 shares.

Analysts Set New Price Targets

SPR has been the topic of a number of recent research reports. Susquehanna lifted their target price on Spirit Aerosystems from $37.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Zacks Research raised Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. Finally, Wall Street Zen raised Spirit Aerosystems from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.63.

Spirit Aerosystems Price Performance

The stock has a market cap of $4.64 billion, a P/E ratio of -1.98 and a beta of 1.74. The business's 50 day simple moving average is $40.16 and its 200 day simple moving average is $37.47.

Spirit Aerosystems (NYSE:SPR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The aerospace company reported ($3.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.52) by ($2.82). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business earned ($2.73) EPS. The company's revenue was up 9.6% compared to the same quarter last year. Research analysts predict that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in shares of Spirit Aerosystems by 48.1% in the second quarter. Farther Finance Advisors LLC now owns 1,029 shares of the aerospace company's stock valued at $39,000 after acquiring an additional 334 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Spirit Aerosystems by 33,966.7% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the aerospace company's stock valued at $39,000 after acquiring an additional 1,019 shares during the last quarter. Byrne Asset Management LLC raised its stake in shares of Spirit Aerosystems by 128.2% in the first quarter. Byrne Asset Management LLC now owns 4,679 shares of the aerospace company's stock valued at $161,000 after acquiring an additional 2,629 shares during the last quarter. Corient Private Wealth LLC bought a new position in shares of Spirit Aerosystems in the second quarter valued at approximately $204,000. Finally, Maryland State Retirement & Pension System bought a new position in shares of Spirit Aerosystems in the second quarter valued at approximately $207,000. 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.

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