UBS started coverage on shares of Spirit Airlines (NASDAQ:SAVE) in a report released on Monday, The Fly reports. The firm set a “neutral” rating on the transportation company’s stock.
A number of other equities research analysts also recently issued reports on the stock. Deutsche Bank upgraded shares of Spirit Airlines from a “hold” rating to a “buy” rating and lifted their price target for the company from $40.00 to $58.00 in a research report on Thursday, December 21st. Stifel Nicolaus downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating and lifted their price target for the company from $45.00 to $50.00 in a research report on Monday, January 15th. Bank of America upgraded shares of Spirit Airlines from a “neutral” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Tuesday, January 9th. Cowen reiterated a “hold” rating and set a $49.00 price target on shares of Spirit Airlines in a research report on Tuesday, January 9th. Finally, Buckingham Research lifted their price target on shares of Spirit Airlines from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $48.25.
SAVE stock opened at $37.74 on Monday. Spirit Airlines has a 12-month low of $30.32 and a 12-month high of $60.28. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Tuesday, February 6th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The company had revenue of $667.00 million during the quarter, compared to the consensus estimate of $666.12 million. During the same period last year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. equities analysts forecast that Spirit Airlines will post 3.08 EPS for the current year.
In other news, COO John A. Bendoraitis sold 1,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $44.63, for a total transaction of $75,424.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of Spirit Airlines by 928.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,655 shares of the transportation company’s stock worth $613,000 after purchasing an additional 12,327 shares in the last quarter. Letko Brosseau & Associates Inc. grew its stake in Spirit Airlines by 0.3% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 602,760 shares of the transportation company’s stock worth $27,034,000 after acquiring an additional 1,560 shares during the period. Delek Group Ltd. purchased a new stake in Spirit Airlines in the 4th quarter worth approximately $8,084,000. Segall Bryant & Hamill LLC purchased a new stake in Spirit Airlines in the 4th quarter worth approximately $6,315,000. Finally, Mountain Lake Investment Management LLC grew its stake in Spirit Airlines by 113.9% in the 4th quarter. Mountain Lake Investment Management LLC now owns 385,000 shares of the transportation company’s stock worth $17,267,000 after acquiring an additional 205,000 shares during the period.
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About Spirit Airlines
Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.
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