Spirit AeroSystems Holdings Inc. (NYSE: SPR) stock fell -5.76% on Monday to $15.86 against a previous-day closing price of $16.83. With 3.49 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.46 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $16.67 whereas the lowest price it dropped to was $15.85. The 52-week range on SPR shows that it touched its highest point at $38.55 and its lowest point at $16.27 during that stretch. It currently has a 1-year price target of $29.13. Beta for the stock currently stands at 1.72.
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 -11.10%, but this was down by -25.15% over a month. Three-month performance dropped to -48.71% while six-month performance fell -46.62%. The stock lost -40.22% in the past year, while it has lost -46.42% so far this year. A look at the trailing 12-month EPS for SPR yields -8.18 with Next year EPS estimates of 0.62. For the next quarter, that number is -0.47. This implies an EPS growth rate of -0.50% for this year and 116.10% for next year.
Float and Shares Shorts:
At present, 105.20 million SPR shares are outstanding with a float of 104.42 million shares on hand for trading. On Aug 30, 2023, short shares totaled 8.6 million, which was 8.17% higher than short shares on Jul 30, 2023. 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 91.07% of SPR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.20% of SPR, in contrast to 42.34% held by mutual funds. Shares owned by individuals account for 3.35%. As the largest shareholder in SPR with 10.49% of the stake, T. Rowe Price Associates, Inc. holds 11,044,885 shares worth 11,044,885. A second-largest stockholder of SPR, The Vanguard Group, Inc., holds 9,780,623 shares, controlling over 9.29% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in SPR, holding 6,512,080 shares or 6.19% stake. With a 5.31% stake in SPR, the T Rowe Price Mid Cap Value Fund is the largest stakeholder. A total of 5,595,576 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.11% of SPR stock, is the second-largest Mutual Fund holder. It holds 3,276,339 shares valued at 69.85 million. Vanguard Explorer Fund holds 2.61% of the stake in SPR, owning 2,751,827 shares worth 58.67 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 28, 2023, SPR reported revenue of $1.26B and operating income of -$111.50M. The EBITDA in the recently reported quarter was $10.20M and diluted EPS was -$1.17.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SPR since 0 analysts follow the stock currently. 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 $34.00 and a low target of $17.70, the average target price over the next 12 months is $26.19. Based on these targets, SPR could surge 114.38% to reach the target high and rise by 11.6% to reach the target low. Reaching the average price target will result in a growth of 65.13% 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.
Summary of Insider Activity:
Insiders traded SPR stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 381 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 52 over the past year. The total number of shares bought during that period was 168,643 while 83,012 shares were sold.