Spirit AeroSystems Holdings Inc. (NYSE: SPR) stock fell -7.43% on Friday to $31.50 against a previous-day closing price of $34.03. With 5.32 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.28 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $33.13 whereas the lowest price it dropped to was $30.77. The 52-week range on SPR shows that it touched its highest point at $53.31 and its lowest point at $26.18 during that stretch. It currently has a 1-year price target of $53.86. With its current market cap of 3.28 billion, SPR has annualized dividend of $0.04 while the current yield stands at 0.13%. Beta for the stock currently stands at 1.71.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SPR was down-trending over the past week, with a drop of -3.20%, but this was up by 3.58% over a month. Three-month performance dropped to -25.65% while six-month performance fell -30.51%. The stock lost -27.15% in the past year, while it has lost -26.90% so far this year. A look at the trailing 12-month EPS for SPR yields -4.05 with Next year EPS estimates of 2.26. For the next quarter, that number is -0.24. This implies an EPS growth rate of 38.00% for this year and 960.00% for next year.
Float and Shares Shorts:
At present, 104.40 million SPR shares are outstanding with a float of 103.92 million shares on hand for trading. On Jul 14, 2022, short shares totaled 4.93 million, which was 4.69% higher than short shares on Jun 14, 2022. In addition to Mr. Thomas C. Gentile III as the firm’s Pres, CEO & Director, Mr. Mark J. Suchinski serves as its Sr. VP & CFO.
Through their ownership of 82.08% of SPR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.21% of SPR, in contrast to 37.97% held by mutual funds. Shares owned by individuals account for 3.26%. As the largest shareholder in SPR with 8.82% of the stake, The Vanguard Group, Inc. holds 9,256,931 shares worth 9,256,931. A second-largest stockholder of SPR, Wellington Management Co. LLP, holds 5,703,904 shares, controlling over 5.43% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in SPR, holding 4,782,724 shares or 4.55% stake. With a 2.94% stake in SPR, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 3,089,618 shares are owned by the mutual fund manager. The T Rowe Price Mid Cap Value Fund, which owns about 2.68% of SPR stock, is the second-largest Mutual Fund holder. It holds 2,813,500 shares valued at 82.44 million. Vanguard Small Cap Index Fund holds 2.53% of the stake in SPR, owning 2,655,111 shares worth 77.79 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SPR since 16 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 4 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SPR analysts setting a high price target of $70.00 and a low target of $45.00, the average target price over the next 12 months is $54.86. Based on these targets, SPR could surge 122.22% to reach the target high and rise by 42.86% to reach the target low. Reaching the average price target will result in a growth of 74.16% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SPR will report FY 2022 earnings on 02/01/2023. Analysts have provided yearly estimates in a range of $0.30 being high and -$0.93 being low. For SPR, this leads to a yearly average estimate of -$0.23. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Spirit AeroSystems Holdings Inc. surprised analysts by $0.61 when it reported $0.03 EPS against a consensus estimate of -$0.58. The surprise factor in the prior quarter was -$0.19. Based on analyst estimates, the high estimate for the next quarter is -$0.20 and the low estimate is -$0.39. The average estimate for the next quarter is thus -$0.24.
Summary of Insider Activity:
Insiders traded SPR stock several times over the past three months with 7 Buys and 1 Sells. In these transactions, 41,096 shares were bought while 500 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 55 over the past year. The total number of shares bought during that period was 116,447 while 73,291 shares were sold.