Spirit AeroSystems (NYSE:SPR) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) saw unusually-strong trading volume on Tuesday . Approximately 1,605,056 shares were traded during trading, an increase of 41% from the previous session’s volume of 1,138,916 shares.The stock last traded at $34.87 and had previously closed at $33.89.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen upgraded Spirit AeroSystems to a “strong-buy” rating in a research note on Thursday, December 19th. StockNews.com started coverage on shares of Spirit AeroSystems in a research report on Monday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Spirit AeroSystems has an average rating of “Hold” and an average target price of $35.67.

Spirit AeroSystems Trading Up 2.0 %

The company’s fifty day moving average is $33.23 and its 200 day moving average is $33.32. The company has a market capitalization of $4.04 billion, a P/E ratio of -2.78 and a beta of 1.81.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its holdings in shares of Spirit AeroSystems by 3,996.6% in the third quarter. National Bank of Canada FI now owns 2,500,000 shares of the aerospace company’s stock worth $81,275,000 after buying an additional 2,438,974 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in Spirit AeroSystems in the 3rd quarter worth approximately $77,296,000. Bank of Montreal Can boosted its holdings in Spirit AeroSystems by 1,744.2% in the 3rd quarter. Bank of Montreal Can now owns 802,091 shares of the aerospace company’s stock valued at $26,557,000 after purchasing an additional 758,599 shares during the period. ING Groep NV purchased a new position in shares of Spirit AeroSystems during the 3rd quarter valued at $16,817,000. Finally, Sand Grove Capital Management LLP bought a new position in shares of Spirit AeroSystems in the third quarter worth $14,099,000. Institutional investors own 93.59% of the company’s stock.

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.