Scopia Capital Management LP recently announced the acquisition of new stake in Spirit AeroSystems Holdings Inc. (NYSE:SPR). The institutional investor has increased its shareholding in the Industrials company by 34.78% to 6.02 million shares with purchase of 1.55 million shares. This fresh investment now brings its stake to 5.70% valued currently at $117.73 million. In addition, BlackRock Fund Advisors raised its holdings by 882.0 to 5.68 million shares. And Sculptor Capital LP has lifted its position by 3.84% or 0.19 million shares – to 5.21 million shares.
With over 4.18 million Spirit AeroSystems Holdings Inc. (SPR) shares trading Monday and a closing price of $20.56 on the day, the dollar volume was approximately $86.04 million. The shares have shown a negative weekly performance of -3.93% and its price on 08/31/20 lost nearly -3.66%. Currently, there are 103.90M common shares owned by the public and among those 103.51M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for SPR have a consensus price objective of $23.06. The analysts have set the share’s price value over the next 12 months at a high of $37.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Spirit AeroSystems Holdings Inc. stock is 2.80 for the next 12 months. The average price target is 7.35% above its last price level and an upside to the estimated low will see the stock lose -71.33% over that period. But an upside of 44.43% will see the stock hit the forecast high price target while mean target price for the stock is $22.00.
Insiders at the company have transacted a total of 68 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 365,618 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 98,440 shares.
The top 3 mutual fund holders in Spirit AeroSystems Holdings Inc. are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and SPDR S&P Aerospace & Defense ETF. Vanguard Total Stock Market Index owns 3.02 million shares of the company’s stock, all valued at over $59.08 million. The company sold 1726.0 shares recently to bring their total holdings to about 2.86% of the shares outstanding. Vanguard Small Cap Index Fund sold 15540.0 shares to see its total holdings shrink to 2.62 million shares valued at over $51.35 million and representing 2.49% of the shares outstanding. SPDR S&P Aerospace & Defense ETF now owns shares totaling to 1.67% of the shares outstanding.
Shares of Spirit AeroSystems Holdings Inc. (NYSE: SPR) opened at $21.34, unchanged from a prior closing price of $21.34. However, the script later closed the day at $20.56, down -3.66%. The company’s stock has a 5-day price change of -3.93% and -11.00% over the past three months. SPR shares are trading -71.79% year to date (YTD), with the 12-month market performance down to -74.49% lower. It has a 12-month low price of $13.69 and touched a high of $92.81 over the same period. Currently, 4.18 million shares have been traded, compared to an average intraday trading volume of 5.62 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.19%, -7.24%, and -51.63% respectively.
Institutional ownership of Spirit AeroSystems Holdings Inc. (NYSE: SPR) shares accounts for 84.60% of the company’s 103.90M shares outstanding. Mutual fund holders own 32.48%, while other institutional holders and individual stakeholders account for 51.08% and 3.14% respectively.
It has a market capitalization of $2.14B and a beta (3y monthly) value of 1.40. The earnings-per-share (ttm) stands at -$2.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.62% over the week and 6.23% over the month.
Analysts forecast that Spirit AeroSystems Holdings Inc. (SPR) will achieve an EPS of -$1.01 for the current quarter, -$0.53 for the next quarter and -$1.12 for 2021. The lowest estimate earnings-per-share for the quarter is -$2.12 while analysts give the company a high EPS estimate of -$0.21. Comparatively, EPS for the current quarter was $1.38 a year ago. Earnings per share for the fiscal year are expected to decrease by -9.80%, and 76.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Spirit AeroSystems Holdings Inc. (SPR) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 13 of the 19 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the SPR, a number of firms have released research notes about the stock. Bernstein stated their Mkt Perform rating for the stock in a research note on July 08, 2020, with the firm’s price target at $26. RBC Capital Mkts coverage for the Spirit AeroSystems Holdings Inc. (SPR) stock in a research note released on June 26, 2020 offered a Outperform rating with a price target of $31. Berenberg was of a view on June 23, 2020 that the stock is Hold, while BofA/Merrill gave the stock Underperform rating on April 13, 2020, issuing a price target of. Goldman on their part issued Buy rating on March 11, 2020.