Spirit AeroSystems (NYSE:SPR) Shares Gap Down – Should You Sell?

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) shares gapped down prior to trading on Friday . The stock had previously closed at $32.53, but opened at $31.50. Spirit AeroSystems shares last traded at $32.10, with a volume of 573,226 shares trading hands.

Analyst Upgrades and Downgrades

SPR has been the subject of a number of recent research reports. StockNews.com began coverage on Spirit AeroSystems in a research report on Sunday, November 24th. They set a “sell” 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 report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.67.

Spirit AeroSystems Stock Performance

The company has a market capitalization of $3.76 billion, a P/E ratio of -2.59 and a beta of 1.84. The firm’s fifty day moving average is $32.09 and its 200-day moving average is $32.77.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.87). The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.83 billion. As a group, analysts expect that Spirit AeroSystems Holdings, Inc. will post -12.76 EPS for the current fiscal year.

Institutional Trading of Spirit AeroSystems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its holdings in Spirit AeroSystems by 7.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 12,968 shares of the aerospace company’s stock valued at $468,000 after buying an additional 921 shares during the period. Public Employees Retirement System of Ohio grew its stake in Spirit AeroSystems by 7.9% during the first quarter. Public Employees Retirement System of Ohio now owns 47,226 shares of the aerospace company’s stock worth $1,703,000 after purchasing an additional 3,454 shares during the period. Bayesian Capital Management LP bought a new stake in Spirit AeroSystems in the first quarter worth approximately $267,000. California State Teachers Retirement System lifted its stake in Spirit AeroSystems by 3.2% in the first quarter. California State Teachers Retirement System now owns 115,912 shares of the aerospace company’s stock valued at $4,181,000 after buying an additional 3,562 shares during the period. Finally, Comerica Bank boosted its holdings in shares of Spirit AeroSystems by 47.9% during the 1st quarter. Comerica Bank now owns 6,929 shares of the aerospace company’s stock worth $250,000 after buying an additional 2,244 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

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.