Traders Buy High Volume of Put Options on Spirit AeroSystems (NYSE:SPR)

Spirit AeroSystems Holdings, Inc. (NYSE:SPR – Get Rating) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 8,980 put options on the company. This is an increase of 75% compared to the typical daily volume of 5,144 put options.

Institutional Trading of Spirit AeroSystems

Hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC lifted its position in Spirit AeroSystems by 54.7% in the 3rd quarter. Fisher Asset Management LLC now owns 79,426 shares of the aerospace company’s stock worth $1,741,000 after buying an additional 28,097 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Spirit AeroSystems during the fourth quarter valued at approximately $218,000. Treasurer of the State of North Carolina grew its stake in Spirit AeroSystems by 1.3% in the third quarter. Treasurer of the State of North Carolina now owns 44,722 shares of the aerospace company’s stock worth $980,000 after purchasing an additional 580 shares during the period. Macquarie Group Ltd. grew its stake in Spirit AeroSystems by 30.5% in the third quarter. Macquarie Group Ltd. now owns 63,505 shares of the aerospace company’s stock worth $1,411,000 after purchasing an additional 14,829 shares during the period. Finally, PDT Partners LLC grew its stake in Spirit AeroSystems by 112.2% in the third quarter. PDT Partners LLC now owns 24,191 shares of the aerospace company’s stock worth $530,000 after purchasing an additional 12,790 shares during the period. Institutional investors own 85.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SPR shares. JPMorgan Chase & Co. raised their price objective on shares of Spirit AeroSystems from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Susquehanna lowered their target price on shares of Spirit AeroSystems from $44.00 to $37.00 in a report on Thursday, May 4th. StockNews.com upgraded shares of Spirit AeroSystems from a “sell” rating to a “hold” rating in a report on Wednesday, May 17th. Royal Bank of Canada lowered their target price on shares of Spirit AeroSystems from $36.00 to $32.00 in a report on Thursday, May 4th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Spirit AeroSystems has a consensus rating of “Hold” and an average price target of $35.79.

Spirit AeroSystems Stock Up 3.9 %

NYSE:SPR opened at $26.58 on Tuesday. Spirit AeroSystems has a twelve month low of $21.14 and a twelve month high of $38.55. The stock has a market cap of $2.80 billion, a P/E ratio of -3.60 and a beta of 1.64. The business’s 50-day moving average price is $29.80 and its two-hundred day moving average price is $30.57.

Spirit AeroSystems (NYSE:SPR – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The aerospace company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($0.31) by ($1.38). The business had revenue of $1.43 billion for 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 for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, equities research analysts expect that Spirit AeroSystems will post -1.43 EPS 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.