The stock of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) is now priced at $20.33 and the shares are -0.17 points down or -0.83% lower compared to its previous closing price of $20.5. The stock had 3.283 million contracts set over the past session. SPR shares’ daily volume is compared to its average trading volume at 5.716 million shares. However, it has a float of 96.1 million and although its performance was -12.63% over the week, it’s one to watch. Analysts have given the SPR stock a yearly average price target of $23.56 per share. It means the stock’s upside potential is 15.89% with the SPR share price recently placing at $19.63 to $20.67. However, some brokerage firms have priced the stock below the average, including one that has called $12.
The shorts are running away from the Spirit AeroSystems Holdings, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the SPR shares have declined. Short interest in the stock represents just 11.89% of its float, but the volume has dropped by 0.
In the last trading session, Spirit AeroSystems Holdings, Inc. (NYSE:SPR) dropped by -$2.94 over the week and lost -$2.83 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $92.81. The stock recorded its established 52-week high on 11/18/19.
Since 03/18/20, the stock has traded to a low of $13.69 at 48.5%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.47. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Spirit AeroSystems Holdings, Inc.’s two-week RSI is 41.96. This suggests that the stock is neutral at the moment and that SPR shares’ price movement remains stable. The stochastic readings are equally revealing at 13.68% meaning the SPR share price is currently in overbought territory.
The technical chart shows that the SPR stock will likely settle at between $20.79 and $21.25 per share. However, if the stock dips below $19.75, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $19.17.
Currently, the stock is trading in the red of MACD, with a reading of -1.05. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Bernstein cut their recommendation for SPR from Outperform to Mkt Perform in July 08 review while maintai their target price of $26. RBC Capital Mkts analysts see the stock as a Outperform with a target price of $31 in a flash note released to investors on June 26 initiating covering the stock. Berenberg seeing the stock struggling downgraded it from Buy to Hold on June 23 placing it at $25.
The average rating for the SPR equity is 2.72 and is currently gathering a bullish momentum. Of 19 analysts tracking Spirit AeroSystems Holdings, Inc. polled by Reuters, 12 rated SPR as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the SPR stocks P/S ratio currently stands at 10.6below the group’s average of 30. Spirit AeroSystems Holdings, Inc. has its P/E ratio at 1.5, which means that the stock is currently trading at a discount relative to the 5.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Spirit AeroSystems Holdings, Inc. (NYSE:SPR) will decrease by about -19.13%, which will see them reach $870.97 million. The company’s full-year revenues are, however, expected to diminish by about -51.78%, down from $7860 million to $3790 million. SPR’s expected adjusted earnings should drop almost -177.19% to end up at -$1.32 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -149.82% to record -$2.76/share.