Stock Traders Buy Large Volume of Spirit AeroSystems Put Options (NYSE:SPR)

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) saw some unusual options trading on Thursday. Stock traders acquired 41,212 put options on the stock. This represents an increase of approximately 504% compared to the typical daily volume of 6,824 put options.

Spirit AeroSystems Stock Up 4.4 %

Shares of NYSE SPR traded up $1.42 during midday trading on Thursday, reaching $33.49. 833,904 shares of the company’s stock traded hands, compared to its average volume of 3,839,620. The stock’s 50 day simple moving average is $33.18 and its 200-day simple moving average is $29.20. Spirit AeroSystems has a one year low of $14.65 and a one year high of $36.34. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -5.50, a P/E/G ratio of 25.07 and a beta of 1.79.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings data on Tuesday, February 6th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.84). The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company posted ($1.46) EPS. The business’s quarterly revenue was up 37.3% on a year-over-year basis. Equities analysts predict that Spirit AeroSystems will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its holdings in Spirit AeroSystems by 12.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,757 shares of the aerospace company’s stock worth $206,000 after purchasing an additional 1,405 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Spirit AeroSystems by 67.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 200,123 shares of the aerospace company’s stock worth $3,230,000 after buying an additional 80,833 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Spirit AeroSystems by 11.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,516 shares of the aerospace company’s stock worth $347,000 after buying an additional 2,178 shares during the last quarter. Inspire Investing LLC raised its stake in Spirit AeroSystems by 77.4% in the third quarter. Inspire Investing LLC now owns 19,084 shares of the aerospace company’s stock valued at $308,000 after buying an additional 8,327 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Spirit AeroSystems in the third quarter worth about $108,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SPR. Stifel Nicolaus boosted their target price on Spirit AeroSystems from $30.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, March 20th. StockNews.com raised Spirit AeroSystems from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Truist Financial lifted their target price on Spirit AeroSystems from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. KeyCorp started coverage on shares of Spirit AeroSystems in a research note on Wednesday, January 17th. They set a “sector weight” rating for the company. Finally, Citigroup began coverage on shares of Spirit AeroSystems in a research note on Wednesday, January 17th. They issued a “buy” rating and a $39.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Spirit AeroSystems presently has a consensus rating of “Hold” and a consensus price target of $31.39.

Spirit AeroSystems Company Profile

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.