Appian Way Asset Management LP Invests $39.97 Million in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)

Appian Way Asset Management LP acquired a new stake in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,215,961 shares of the aerospace company’s stock, valued at approximately $39,969,000. Spirit AeroSystems comprises approximately 10.2% of Appian Way Asset Management LP’s holdings, making the stock its 2nd biggest position. Appian Way Asset Management LP owned approximately 1.04% of Spirit AeroSystems at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Seven Eight Capital LP acquired a new position in Spirit AeroSystems during the fourth quarter worth about $5,694,000. Vanguard Group Inc. raised its position in Spirit AeroSystems by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,954,485 shares of the aerospace company’s stock valued at $395,128,000 after buying an additional 109,632 shares during the period. Norges Bank acquired a new stake in shares of Spirit AeroSystems during the 4th quarter valued at $62,432,000. Boulder Hill Capital Management LP bought a new stake in shares of Spirit AeroSystems in the 4th quarter valued at approximately $791,000. Finally, Allspring Global Investments Holdings LLC raised its holdings 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SPR. Stifel Nicolaus boosted their target price on shares of Spirit AeroSystems from $34.00 to $37.25 and gave the stock a “hold” rating in a research report on Monday, July 8th. Citigroup restated a “neutral” rating and issued a $37.25 target price (down from $39.00) on shares of Spirit AeroSystems in a research note on Wednesday, July 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. UBS Group raised their price objective on shares of Spirit AeroSystems from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 1st. Finally, Robert W. Baird reissued a “neutral” rating and issued a $37.25 price target (up previously from $36.00) on shares of Spirit AeroSystems in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Spirit AeroSystems presently has a consensus rating of “Hold” and an average target price of $35.38.

Spirit AeroSystems Stock Up 1.1 %

Shares of NYSE SPR opened at $33.47 on Tuesday. Spirit AeroSystems Holdings, Inc. has a 12-month low of $14.89 and a 12-month high of $37.08. The firm’s 50-day simple moving average is $34.41 and its 200 day simple moving average is $33.21. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -3.85 and a beta of 1.85.

Spirit AeroSystems (NYSE:SPR) last released its quarterly earnings results on Monday, August 5th. The aerospace company reported ($2.73) EPS for the quarter, missing the consensus estimate of ($0.98) by ($1.75). The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business earned ($1.46) earnings per share. Spirit AeroSystems’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts expect that Spirit AeroSystems Holdings, Inc. will post -4.21 earnings per share for the current year.

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.