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Spirit Aerosystems (SPR) Soars 7.0%: Is Further Upside Left in the Stock?
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Spirit Aerosystems (SPR - Free Report) shares ended the last trading session 7% higher at $28.57. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 17% loss over the past four weeks.
A report from Seattle Times recently suggested that Spirit AeroSystems is not responsible for a mid-air incident on an Alaska Airlines flight, instead Boeing’s mechanics improperly reinstalled a panel in the aircraft. This must have led to the latest share price hike for SPR.
This aircraft parts maker is expected to post quarterly earnings of $1.33 per share in its upcoming report, which represents a year-over-year change of +191.1%. Revenues are expected to be $1.74 billion, up 31.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Spirit Aerosystems, the consensus EPS estimate for the quarter has been revised 9.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SPR going forward to see if this recent jump can turn into more strength down the road.
Spirit Aerosystems belongs to the Zacks Aerospace - Defense Equipment industry. Another stock from the same industry, TransDigm Group (TDG - Free Report) , closed the last trading session 1.1% lower at $1,059.92. Over the past month, TDG has returned 6.2%.
For TransDigm, the consensus EPS estimate for the upcoming report has changed -0.1% over the past month to $6.38. This represents a change of +39.3% from what the company reported a year ago. TransDigm currently has a Zacks Rank of #3 (Hold).
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Spirit Aerosystems (SPR) Soars 7.0%: Is Further Upside Left in the Stock?
Spirit Aerosystems (SPR - Free Report) shares ended the last trading session 7% higher at $28.57. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 17% loss over the past four weeks.
A report from Seattle Times recently suggested that Spirit AeroSystems is not responsible for a mid-air incident on an Alaska Airlines flight, instead Boeing’s mechanics improperly reinstalled a panel in the aircraft. This must have led to the latest share price hike for SPR.
This aircraft parts maker is expected to post quarterly earnings of $1.33 per share in its upcoming report, which represents a year-over-year change of +191.1%. Revenues are expected to be $1.74 billion, up 31.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Spirit Aerosystems, the consensus EPS estimate for the quarter has been revised 9.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SPR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Spirit Aerosystems belongs to the Zacks Aerospace - Defense Equipment industry. Another stock from the same industry, TransDigm Group (TDG - Free Report) , closed the last trading session 1.1% lower at $1,059.92. Over the past month, TDG has returned 6.2%.
For TransDigm, the consensus EPS estimate for the upcoming report has changed -0.1% over the past month to $6.38. This represents a change of +39.3% from what the company reported a year ago. TransDigm currently has a Zacks Rank of #3 (Hold).