In the latest trading session, 0.58 million Spirit AeroSystems Holdings Inc. (NYSE:SPR) shares changed hands as the company’s beta touched 1.72. With the company’s most recent per share price at $16.33 changed hands at -$0.5 or -3.00% at last look, the market valuation stands at $1.67B. SPR’s current price is a discount, trading about -136.07% off its 52-week high of $38.55. The share price had its 52-week low at $16.27, which suggests the last value was 0.37% up since then. When we look at Spirit AeroSystems Holdings Inc.’s average trading volume, we note the 10-day average is 4.24 million shares, with the 3-month average coming to 3.46 million.
Analysts gave the Spirit AeroSystems Holdings Inc. (SPR) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.80. If we narrow down to specifics, the data shows that 1 out of 16 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 10 recommended SPR as a Hold, 3 felt it is a Buy and 1 rated the stock as Underweight. Spirit AeroSystems Holdings Inc.’s EPS for the current quarter is expected to be -$0.47.
Spirit AeroSystems Holdings Inc. (NYSE:SPR) trade information
Instantly SPR was in red as seen in intraday trades today. With action -8.49%, the performance over the past five days has been red. The drop to weekly highs of 18.18 on Friday, 09/15/23 subtracted -3.00% to the stock’s daily price. The company’s shares are showing year-to-date downside of -44.85%, with the 5-day performance at -8.49% in the red. However, in the 30-day time frame, Spirit AeroSystems Holdings Inc. (NYSE:SPR) is -22.96% down. Looking at the short shares, we see there were 8.6 million shares sold at short interest cover period of 1.86 days.
The consensus price target for the stock as assigned by Wall Street analysts is $26.19, meaning bulls need an upside of 37.65% from its recent market value. According to analyst projections, SPR’s forecast low is $17.70 with $34.00 as the target high. To hit the forecast high, the stock’s price needs a -108.21% plunge from its current level, while the stock would need to soar -8.39% for it to hit the projected low.
Spirit AeroSystems Holdings Inc. (SPR) estimates and forecasts
Data shows that the Spirit AeroSystems Holdings Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -45.05% over the past 6 months, a -39.15% in annual growth rate that is considerably lower than the industry average of 8.00%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Spirit AeroSystems Holdings Inc. will fall -213.30%, while the growth in revenue is estimated to hit 87.70% for the next quarter. Year-over-year growth is forecast to reach 21.10% up from the last financial year.
Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $1.57 billion. 13 analysts are of the opinion that Spirit AeroSystems Holdings Inc.’s revenue for the quarter ending Dec 2023 will be $1.73 billion. The company’s revenue for the corresponding quarters a year ago was $1.33 billion and $1.32 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 18.20%. The estimates for the next quarter sales put growth at 31.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -29.20%. The 2023 estimates are for Spirit AeroSystems Holdings Inc. earnings to decrease by -0.50%.
Spirit AeroSystems Holdings Inc. is expected to release its next quarterly earnings report between November 01 and November 06.
Spirit AeroSystems Holdings Inc. (NYSE:SPR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.82% of Spirit AeroSystems Holdings Inc. shares while 91.07% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 91.82%. There are 91.07% institutions holding the Spirit AeroSystems Holdings Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 9.42% of the shares, roughly 9.92 million SPR shares worth $162.14 million.
Price (T.Rowe) Associates Inc holds the second largest percentage of outstanding shares, with 9.11% or 9.59 million shares worth $156.81 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Price (T.Rowe) Mid-Cap Value Fund and Vanguard Total Stock Market Index Fund. With 5.6 million shares estimated at $91.49 million under it, the former controlled 5.31% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.12% of the shares, roughly 3.28 million shares worth around $53.68 million.