The Vanguard Group, Inc. 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 1.01% to 10.16 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 9.66% valued currently at $302.5 million. In addition, Fidelity Management & Research Co raised its holdings by 3.05 million to 8.19 million shares. And T. Rowe Price Associates, Inc. has lifted its position by 5.14% or 0.34 million shares – to 6.98 million shares.
With over 2.35 million Spirit AeroSystems Holdings Inc. (SPR) shares trading Monday and a closing price of $26.58 on the day, the dollar volume was approximately $62.47 million. The shares have shown a positive half year performance of 5.31% and its price on 05/22/23 gained nearly 3.91%. Currently, there are 104.90M common shares owned by the public and among those 104.25M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for SPR have a consensus price objective of $37.79. The analysts have set the share’s price value over the next 12 months at a high of $45.00 and a low of $27.00. The average price target is 26.76% above its recent price level and an upside to the estimated low will see the stock gain 1.56% over that period. But an upside of 40.93% will see the stock hit the forecast high price target while median target price for the stock is $40.00.
Insiders at the company have transacted a total of 90 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 126,578 shares. Insider sales of the common stock occurred on 59 occasions, with total insider shares sold totaling 84,021 shares.
The top 3 mutual fund holders in Spirit AeroSystems Holdings Inc. are T Rowe Price Mid Cap Value Fund, Vanguard Total Stock Market ETF, and Vanguard Explorer Fund. T Rowe Price Mid Cap Value Fund owns 4.14 million shares of the company’s stock, all valued at over $123.33 million. The company sold 8452.0 shares recently to bring their total holdings to about 3.94% of the shares outstanding. Vanguard Total Stock Market ETF bought 21255.0 shares to see its total holdings expand to 3.25 million shares valued at over $96.76 million and representing 3.09% of the shares outstanding. Vanguard Explorer Fund bought 0.2 million shares to bring its total holdings to over 2.95 million shares at a value of $87.87 million. Vanguard Explorer Fund now owns shares totaling to 2.81% of the shares outstanding.
However, the script later moved the day high at 26.71, up 3.91%. The company’s stock has a 5-day price change of 10.75% and -22.98% over the past three months. SPR shares are trading -10.20% year to date (YTD), with the 12-month market performance down to -14.26% lower. It has a 12-month low price of $21.14 and touched a high of $38.55 over the same period. SPR has an average intraday trading volume of 2.54 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 1.00%, -10.89%, and -9.90% respectively.
Institutional ownership of Spirit AeroSystems Holdings Inc. (NYSE: SPR) shares accounts for 89.70% of the company’s 104.90M shares outstanding. Mutual fund holders own 43.04%, while other institutional holders and individual stakeholders account for 43.94% and 3.35% respectively.
It has a market capitalization of $2.75B and a beta (3y monthly) value of 1.65. The earnings-per-share (ttm) stands at -$7.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.67% over the week and 5.27% over the month.
Analysts forecast that Spirit AeroSystems Holdings Inc. (SPR) will achieve an EPS of -$0.5 for the current quarter, -$0.1 for the next quarter and $1.43 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.29 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was -$1.21 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.50%, and 180.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Spirit AeroSystems Holdings Inc. (SPR) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 7 of the 16 advise that investors “hold,” and 1 rated it as a “Sell.”
