Baird took its Spirit AeroSystems Hldgs [SPR] rating to the equivalent of Outperform from Neutral, and the price target to $53.0 from $23, in a research note dated 2021-01-11. That figure represents around a 32.53% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Barclays’s analysts upgrading the shares from “an Equal weight” rating to “an Overweight” rating in a research note to investors issued in early December. Meanwhile, Wolfe Research had lowered its rating on SPR to “Peer perform” from the earlier “an Outperform”, in a research note produced for clients December 04, 2020. In addition, there was an upgrade from Truist on December 01, 2020. The rater changed SPR from “a Sell” to “a Hold”.
Is Spirit AeroSystems Holdings Inc. [NYSE:SPR] a Good Buy Right Now?
It should be noted that SPR technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from Spirit AeroSystems Holdings Inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 3.09 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 4.76 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 4.91 million shares.
SPR Price Performance
On Wall Street, Spirit AeroSystems Holdings Inc. [NYSE:SPR] finished Friday’s session down -0.07% at $40.00. The stock went up to $40.5839 at the same session while its lowest single day price was $39.46. In the last five days, it saw a rise of about 2.33%, Spirit AeroSystems Holdings Inc. shares gained by almost 2.33% since the beginning of the year. However, the share price has dropped to as low as -46.37% below its one year high. On 01/07/21, the company shares recorded $41.32, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $36.53. The company’s shares have declined by -45.05% in the past year. The 50-day SMA achieved is $33.29 while the 200-day SMA is $24.62. Volume dropped to 1.98 million from 2.58 million in the previous session.
SPR Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 39.45 level, and in case of violation of this particular level, it will cause more drop to 38.89 level. On the upper level, 41.14 is still the key resistance. The stock may increase to the subsequent resistance at 40.57. The Relative Strength Index (RSI) pinned on the 14-day chart is 61.78, implying a neutral technical stance while the MACD stands at 1.68, meaning price will increase in the next trading period. Percent R indicator moved to 18.88%, implying bullish price movement. Stochastic %K at 80.20% suggest selling the stock.
What is the short interest in Spirit AeroSystems Holdings Inc.?
Short interest in the Spirit AeroSystems Holdings Inc. stock has surged, increasing by 0.26 million shares to total 8.01 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 8.27 million, data from Yahoo Finance shows. The decrease of -3.25% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 8.65% of the overall float for the stock.
Spirit AeroSystems Holdings Inc.’s Biggest Shareholders: Who Owns Spirit AeroSystems Holdings Inc. [SPR]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 8,988,938 shares or roughly 8.51% of the outstanding SPR shares. This means their shares have reduced by -286,277 from the 8,988,938 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Scopia Capital Management LP updated stake is worth $246,960,292. Details in the latest 13F filings reveal that Sculptor Capital LP disposed off their -0.23% stake valued at $176,885,952 while BlackRock Fund Advisors cut theirs at $166,387,398. During the last quarter, Sculptor Capital LP liquidated -12,178 of its shares in Spirit AeroSystems Holdings Inc. while BlackRock Fund Advisors sold -789,435 shares. The Causeway Capital Management LLC’s holdings currently number 3,474,365 shares at $138974600.0. According to the firm’s last 13F report, SSgA Funds Management, Inc. shares in the company at filing stood at 3,287,238 shares, roughly $111,766,092.
SPR Earnings Forecast For The Current Quarter
Spirit AeroSystems Holdings Inc. [SPR] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $902.55M and an earnings per share of -$0.78 for Dec 2020. Looking further ahead, the company is expected to report revenue of $910.53M at an EPS of -$0.68 for Mar 2021. The estimates represent downside of 18.20% and 63.50% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
SPR Earnings Estimates For The Current Year
For the financial year, Spirit AeroSystems Holdings Inc. [NYSE:SPR] is expected to bring in revenue of $3.44B. The returns are nearly $-4.42 billion lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -5.26, lower than that of FY19 by -$10.8. Estimates put this year’s earnings growth at -194.90%, 63.50% for the next, and at an annual -53.36% over the next 5-year period. As for sales, forecasts are for a decrease of -56.30% in the current fiscal year and a further 18.20% over the following year.