Spirit AeroSystems (NYSE:SPR) Shares Gap Down to $79.43

Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) gapped down prior to trading on Monday . The stock had previously closed at $82.30, but opened at $79.43. Spirit AeroSystems shares last traded at $75.59, with a volume of 2,379,600 shares traded.

SPR has been the subject of a number of research reports. Credit Suisse Group downgraded Spirit AeroSystems from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $101.00 to $83.00 in a research report on Monday, July 15th. Morgan Stanley raised their price objective on Spirit AeroSystems from $100.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Zacks Investment Research downgraded Spirit AeroSystems from a “hold” rating to a “sell” rating and set a $84.00 price objective for the company. in a research report on Monday, July 8th. Jefferies Financial Group downgraded Spirit AeroSystems from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $106.00 to $85.00 in a research report on Tuesday, July 2nd. Finally, UBS Group downgraded Spirit AeroSystems from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $92.00 to $88.00 in a research report on Monday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $94.19.

The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.42 and a current ratio of 1.96. The firm has a market cap of $8.58 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.58 and a beta of 1.18. The company has a 50-day moving average of $82.55 and a 200 day moving average of $81.21.

Spirit AeroSystems (NYSE:SPR) last posted its earnings results on Wednesday, July 31st. The aerospace company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.07. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.98 billion. Spirit AeroSystems had a return on equity of 56.85% and a net margin of 8.88%. Spirit AeroSystems’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $1.63 EPS. Sell-side analysts anticipate that Spirit AeroSystems Holdings, Inc. will post 6.79 EPS for the current fiscal year.

In related news, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.58, for a total transaction of $39,790.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of SPR. Ellevest Inc. bought a new position in shares of Spirit AeroSystems during the 2nd quarter worth approximately $28,000. Capital Bank & Trust Co acquired a new stake in Spirit AeroSystems during the 2nd quarter valued at $33,000. Parallel Advisors LLC increased its holdings in Spirit AeroSystems by 1,685.2% during the 2nd quarter. Parallel Advisors LLC now owns 482 shares of the aerospace company’s stock valued at $39,000 after purchasing an additional 455 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Spirit AeroSystems during the 2nd quarter valued at $40,000. Finally, Doyle Wealth Management acquired a new stake in Spirit AeroSystems during the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

Spirit AeroSystems Company Profile (NYSE:SPR)

Spirit AeroSystems Holdings, Inc designs, manufactures, and supplies commercial aero structures in the United States and internationally. The company operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and related spares, as well as maintenance, repairs, and overhaul (MRO) services.

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