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

Spirit AeroSystems Holdings, Inc. (NYSE:SPR - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $32.65, but opened at $31.51. Spirit AeroSystems shares last traded at $32.30, with a volume of 202,162 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Robert W. Baird reaffirmed a "neutral" rating and set a $37.25 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. Susquehanna reaffirmed a "neutral" rating and set a $37.00 target price (down previously from $40.00) on shares of Spirit AeroSystems in a report on Wednesday, July 17th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $37.25 price target on shares of Spirit AeroSystems in a report on Tuesday, August 20th. Truist Financial upped their price target on Spirit AeroSystems from $30.00 to $35.00 and gave the company a "hold" rating in a research report on Wednesday, July 17th. Finally, StockNews.com assumed coverage on shares of Spirit AeroSystems in a report on Wednesday. They issued a "sell" rating for the company. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $35.54.

Spirit AeroSystems Price Performance

The stock has a fifty day moving average price of $33.31 and a two-hundred day moving average price of $32.94. The company has a market cap of $3.69 billion, a P/E ratio of -3.17 and a beta of 1.85.

Spirit AeroSystems (NYSE:SPR - Get Free Report) last announced its earnings results on Monday, August 5th. The aerospace company reported ($2.73) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($1.75). The business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.57 billion. During the same quarter in the prior year, the firm earned ($1.46) earnings per share. Spirit AeroSystems's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, analysts forecast that Spirit AeroSystems Holdings, Inc. will post -4.67 earnings per share for the current year.

Institutional Trading of Spirit AeroSystems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Spirit AeroSystems during the first quarter valued at approximately $25,000. Byrne Asset Management LLC acquired a new position in shares of Spirit AeroSystems during the 2nd quarter valued at $30,000. Waldron Private Wealth LLC bought a new stake in shares of Spirit AeroSystems in the 3rd quarter worth $32,000. Riverview Trust Co acquired a new stake in shares of Spirit AeroSystems in the first quarter valued at $35,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Spirit AeroSystems by 148.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,211 shares of the aerospace company's stock valued at $44,000 after buying an additional 724 shares in the last quarter. 93.59% of the stock is currently owned by 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.