Spirit AeroSystems (NYSE:SPR) Reaches New 52-Week Low – Here’s Why

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $28.35 and last traded at $29.88, with a volume of 825650 shares. The stock had previously closed at $32.39.

Analyst Ratings Changes

SPR has been the subject of a number of research analyst reports. StockNews.com began coverage on Spirit AeroSystems in a research note 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 target on shares of Spirit AeroSystems in a research report on Tuesday, February 11th. Finally, TD Cowen raised shares of Spirit AeroSystems to a “strong-buy” rating in a report on Thursday, December 19th. Fifteen equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, Spirit AeroSystems currently has a consensus rating of “Hold” and an average target price of $36.00.

Spirit AeroSystems Stock Performance

The stock has a market cap of $3.39 billion, a PE ratio of -2.34 and a beta of 1.41. The company has a 50 day moving average of $34.13 and a two-hundred day moving average of $33.19.

Spirit AeroSystems (NYSE:SPR) last announced its earnings results on Friday, February 28th. The aerospace company reported ($4.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.86) by ($2.36). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.94 billion. As a group, equities research analysts anticipate that Spirit AeroSystems Holdings, Inc. will post -11.88 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of Spirit AeroSystems in the fourth quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in Spirit AeroSystems during the 4th quarter worth $32,000. Headlands Technologies LLC purchased a new stake in shares of Spirit AeroSystems during the fourth quarter worth $67,000. Byrne Asset Management LLC grew its holdings 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 worth $70,000 after buying an additional 1,390 shares in the last quarter. Finally, Vestcor Inc purchased a new position in shares of Spirit AeroSystems in the fourth quarter worth about $97,000. 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.