Spirit Aerosystems (NYSE:SPR) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Spirit Aerosystems Holdings, Inc. (NYSE:SPR)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $38.79 and traded as high as $39.63. Spirit Aerosystems shares last traded at $39.4440, with a volume of 11,351,328 shares.

Analysts Set New Price Targets

Several research firms have issued reports on SPR. Zacks Research raised Spirit Aerosystems from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spirit Aerosystems in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Spirit Aerosystems has a consensus rating of “Reduce” and a consensus target price of $38.63.

Spirit Aerosystems Stock Up 0.1%

The firm has a market capitalization of $4.64 billion, a P/E ratio of -1.78 and a beta of 1.11. The stock has a fifty day simple moving average of $37.67 and a 200 day simple moving average of $38.79.

Spirit Aerosystems (NYSE:SPR) last announced its quarterly earnings results on Friday, October 31st. The aerospace company reported ($4.87) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($4.50). The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the company earned ($3.03) EPS. The business’s revenue was up 7.8% compared to the same quarter last year. Research analysts anticipate that Spirit Aerosystems Holdings, Inc. will post -11.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spirit Aerosystems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPR. Ethic Inc. purchased a new stake in Spirit Aerosystems in the 2nd quarter valued at about $400,000. Y Intercept Hong Kong Ltd bought a new position in Spirit Aerosystems in the second quarter worth approximately $3,272,000. Vanguard Personalized Indexing Management LLC purchased a new position in Spirit Aerosystems during the 2nd quarter worth $340,000. XTX Topco Ltd lifted its holdings in shares of Spirit Aerosystems by 70.6% in the 2nd quarter. XTX Topco Ltd now owns 30,047 shares of the aerospace company’s stock worth $1,146,000 after buying an additional 12,438 shares during the period. Finally, Valeo Financial Advisors LLC bought a new position in shares of Spirit Aerosystems during the 2nd quarter worth $1,747,000. Institutional investors own 93.59% of the company’s stock.

About Spirit Aerosystems

Spirit AeroSystems Holdings, Inc is one of the world’s largest independent manufacturers of aerostructures for commercial and defense aircraft. Established in 2005 as a spin-off from The Boeing Company’s Wichita division, Spirit designs, builds and assembles complex assemblies and components such as fuselages, wing systems, pylons and nacelles. The company’s core business activities center on lightweight composite and aluminum structures, advanced tooling, and aftermarket services to support the full life cycle of an aircraft.

In its commercial segment, Spirit AeroSystems supplies major airframers including Boeing and Airbus, producing critical sections for models such as the 737, 777, 787 and A350 families.