Are Analysts Expecting A Better 2020 For Spirit AeroSystems Holdings Inc. (SPR)?

UPWK stock
UPWK stock

Scopia Capital Management LP has recently announced that it has increased stake in Spirit AeroSystems Holdings Inc. (NYSE:SPR) by 34.78%. After grabbing 6.02 million shares, the institutional investor is now in possession of 1.55 million shares of the Industrials Company. The new investment brought the stake of investor firm to 5.70% having worth around $117.73 million. Moreover, BlackRock Fund Advisors increased its share by 882.0 to have a control over 5.68 million shares. And Sculptor Capital LP raised its holdings to 0.19 million shares by acquiring 5.21 million shares or 4.94% of the stake.

Spirit AeroSystems Holdings Inc. (SPR) concluded trading on 08/27/20 at a closing price of $21.00, with 5.35 million shares of worth about $112.44 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 2.34% during that period and on Thursday the price saw a gain of about 3.14%. Currently the company’s common shares owned by public are about 103.90M shares, out of which, 103.51M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the SPR stock and their offered price forecasts bring an average price target of $23.06. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $37.00 and could fall to a lowest price of $12.00. Analysts also issued an outlook of 2.80 for the Spirit AeroSystems Holdings Inc. stock for next 12 months. The stock’s current price level is 5.36% above of average price target set by the analysts, while a rise to estimated low would result in loss of -75.0 for the stock. However, touching the estimated high of $37.00 would mean a gain of 43.24% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 68 times over the past 12 months. They bought 365,618 shares in 35 of the transactions. In 33 selling transactions, insiders dumped 98,440 shares.

Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and SPDR S&P Aerospace & Defense ETF are the top 3 mutual funds which are holding stakes in Spirit AeroSystems Holdings Inc. Vanguard Total Stock Market Index is currently holding 3.02 million shares of worth totaling $59.08 million. The company recently came selling 1726.0 shares which brought its stake up to 2.86% of the company’s outstanding shares. Vanguard Small Cap Index Fund sold 15540.0 shares, after which its hold over company’s outstanding shares shrunk to 2.49%, leaving 2.62 million shares with the mutual fund that have a worth of about $51.35 million. SPDR S&P Aerospace & Defense ETF, after buying 1.76 million shares, have now control over 1.67% of the stake in the company. It holds 0.0 shares of worth $34.53 million.

Spirit AeroSystems Holdings Inc. (NYSE: SPR) started trading at $20.52, above $0.16 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $21.00, or with a gain of 3.14%. Stock saw a price change of 2.34% in past 5 days and over the past one month there was a price change of 2.44%. Year-to-date (YTD), SPR shares are showing a performance of -71.19% which decreased to -73.29% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $13.69 but also hit the highest price of $92.81 during that period. While comparing its average daily trading volume of 5.73 million shares, we see that about 5.35 million changed hands on the day. The stock is currently trading 0.49% above its 20-day simple moving average (SMA20), while that difference is down -6.36% for SMA50 and it goes to -51.38% lower than SMA200.

Scopia Capital Management LP acquired 6.02 million shares of Spirit AeroSystems Holdings Inc. having value of about $117.73 million. Data submitted at the U.S SEC by Scopia Capital Management LP revealed that the firm now holds 1.55 million shares in the company valued at close to $32596935.0, or have control over 34.78% stake in the company. Spirit AeroSystems Holdings Inc. (NYSE: SPR) currently have 103.90M outstanding shares and institutions hold larger chunk of about 84.60% of that. Holding of mutual funds in the company is about 32.65% while other institutional holders and individual stake holders have control over 50.90% and 3.14% of the stake respectively.

The stock has a current market capitalization of $2.31B and its 3Y-monthly beta is at 1.40. It has posted earnings per share of -$2.14 in the same period. It has Quick Ratio of 1.90 while making debt-to-equity ratio of 2.68. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SPR, volatility over the week remained 5.92% while standing at 6.35% over the month.

Analysts are in expectations that Spirit AeroSystems Holdings Inc. (SPR) stock would likely to be making an EPS of -$1.01 in the current quarter, while forecast for next quarter ESPS is -$0.53 and it is -$1.12 for next year. For the current quarter EPS, analysts have given the company a lowest target -$2.12 which is -$0.21 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.38 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -9.80% while it is estimated to increase by 88.90% in next year.

Analysts at 19 brokerage firms have issued recommendations for the Spirit AeroSystems Holdings Inc. (SPR)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.80. Out of those 19 Wall Street analysts, 4 recommended a “Buy” rating, while 13 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Bernstein on July 08, 2020 offering a Mkt perform rating for the stock and assigned a target price of $26 to it. Coverage by RBC Capital Mkts stated Spirit AeroSystems Holdings Inc. (SPR) stock as an Outperform in their note to investors on June 26, 2020, suggesting a price target of $31 for the stock. On June 23, 2020, Berenberg Downgrade their recommendations, while on April 13, 2020, BofA/Merrill Downgrade their ratings for the stock with a price target of. Stock get a Buy rating from Goldman on March 11, 2020.


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