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Strength Seen in Spirit Aerosystems (SPR): Can Its 6.2% Jump Turn into More Strength?

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Spirit Aerosystems (SPR) shares rallied 6.2% in the last trading session to close at $30.03. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.8% loss over the past four weeks.

The latest uptick in Spirit AeroSystems’ share price must have been driven by renewed hopes of an amicable solution to the feud between Airbus and Qatar Airways, involving the former’s A350 plane for which SPR makes the fuselage.

This aircraft parts maker is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of +32.3%. Revenues are expected to be $1.25 billion, up 24.3% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Spirit Aerosystems, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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, AeroVironment (AVAV), closed the last trading session 0.5% higher at $82.80. Over the past month, AVAV has returned -8.5%.

AeroVironment's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.41. Compared to the company's year-ago EPS, this represents a change of -60.6%. AeroVironment currently boasts a Zacks Rank of #3 (Hold).


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Spirit Aerosystems Holdings, Inc. (SPR) : Free Stock Analysis Report
 
AeroVironment, Inc. (AVAV) : Free Stock Analysis Report
 
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