Spirit AeroSystems Target of Unusually Large Options Trading (NYSE:SPR)

Posted by Defense World Staff on Jun 8th, 2023

Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating) was the recipient of unusually large options trading on Wednesday. Investors acquired 10,657 call options on the company. This represents an increase of approximately 106% compared to the average volume of 5,182 call options.

Analysts Set New Price Targets

Several research firms have recently weighed in on SPR. StockNews.com cut shares of Spirit AeroSystems from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Benchmark upgraded shares of Spirit AeroSystems from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Wednesday, April 19th. Bank of America dropped their target price on shares of Spirit AeroSystems from $26.00 to $25.00 in a report on Tuesday, May 30th. JPMorgan Chase & Co. raised their price objective on shares of Spirit AeroSystems from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Finally, TD Cowen downgraded shares of Spirit AeroSystems from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $38.00 to $28.00 in a research note on Thursday, May 4th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Spirit AeroSystems has a consensus rating of “Hold” and a consensus price target of $35.71.

Hedge Funds Weigh In On Spirit AeroSystems

A number of large investors have recently bought and sold shares of SPR. Estabrook Capital Management boosted its position in shares of Spirit AeroSystems by 319.6% in the fourth quarter. Estabrook Capital Management now owns 965 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 735 shares during the last quarter. Money Concepts Capital Corp increased its stake in shares of Spirit AeroSystems by 1,076.9% in the fourth quarter. Money Concepts Capital Corp now owns 1,224 shares of the aerospace company’s stock worth $36,000 after buying an additional 1,120 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Spirit AeroSystems by 240.2% in the first quarter. Bessemer Group Inc. now owns 1,446 shares of the aerospace company’s stock worth $50,000 after buying an additional 1,021 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Spirit AeroSystems in the fourth quarter worth $48,000. Finally, Signaturefd LLC boosted its holdings in Spirit AeroSystems by 39.6% in the fourth quarter. Signaturefd LLC now owns 1,637 shares of the aerospace company’s stock worth $48,000 after purchasing an additional 464 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Spirit AeroSystems Price Performance

Shares of SPR opened at $29.93 on Thursday. The stock has a market cap of $3.15 billion, a PE ratio of -4.05 and a beta of 1.64. The firm has a 50-day simple moving average of $28.82 and a two-hundred day simple moving average of $30.59. Spirit AeroSystems has a 1-year low of $21.14 and a 1-year high of $38.55.

Spirit AeroSystems (NYSE:SPR – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The aerospace company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($1.38). The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Spirit AeroSystems had a negative return on equity of 365.67% and a negative net margin of 14.64%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. As a group, sell-side analysts expect that Spirit AeroSystems will post -1.69 earnings per share for the current fiscal year.

About Spirit AeroSystems

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Spirit AeroSystems Holdings, Inc engages in the design and manufacture of aero structures for commercial and defense aircraft. It operates through the following segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment designs and manufactures forward, mid, and rear fuselage sections which related to floor beams, nacelles, struts and pylons, horizontal and vertical stabilizers, flaps and slats and wing structures.