Shares of Spirit Airlines, Inc. (NYSE:SAVE) have earned an average rating of “Hold” from the eighteen analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $28.69.
A number of equities analysts recently commented on the stock. Susquehanna Bancshares boosted their price objective on shares of Spirit Airlines from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, February 12th. JPMorgan Chase & Co. downgraded shares of Spirit Airlines from an “overweight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research note on Wednesday, December 16th. Deutsche Bank Aktiengesellschaft raised shares of Spirit Airlines from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Monday. Credit Suisse Group boosted their price objective on shares of Spirit Airlines from $13.00 to $16.00 and gave the stock an “underperform” rating in a research note on Thursday, February 11th. Finally, Citigroup boosted their price objective on shares of Spirit Airlines from $26.50 to $35.00 in a research note on Monday, February 8th.
In other Spirit Airlines news, Director H. Mcintyre Gardner sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 17th. The stock was sold at an average price of $26.21, for a total transaction of $131,050.00. Insiders own 0.63% of the company’s stock.
Large investors have recently made changes to their positions in the company. Johnson Midwest Financial LLC purchased a new position in shares of Spirit Airlines in the fourth quarter worth about $29,000. Victory Capital Management Inc. raised its stake in shares of Spirit Airlines by 6.1% in the third quarter. Victory Capital Management Inc. now owns 454,805 shares of the company’s stock worth $7,323,000 after purchasing an additional 26,235 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Spirit Airlines by 1,660.1% in the third quarter. Great West Life Assurance Co. Can now owns 17,654 shares of the company’s stock worth $2,010,000 after purchasing an additional 16,651 shares during the last quarter. BlackRock Inc. raised its stake in shares of Spirit Airlines by 2.5% in the third quarter. BlackRock Inc. now owns 6,248,535 shares of the company’s stock worth $100,602,000 after purchasing an additional 151,362 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Spirit Airlines by 1,081.3% in the fourth quarter. IFP Advisors Inc now owns 3,780 shares of the company’s stock worth $91,000 after purchasing an additional 3,460 shares during the last quarter. Hedge funds and other institutional investors own 52.20% of the company’s stock.
Shares of Spirit Airlines stock traded up $0.39 on Thursday, hitting $37.08. 149,675 shares of the company traded hands, compared to its average volume of 5,485,451. The stock’s 50 day moving average price is $28.05 and its 200-day moving average price is $23.59. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 1.28. Spirit Airlines has a 52 week low of $7.01 and a 52 week high of $39.12. The company has a market cap of $3.63 billion, a PE ratio of -17.39 and a beta of 1.59.
Spirit Airlines (NYSE:SAVE) last posted its quarterly earnings results on Tuesday, February 9th. The company reported ($1.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.44) by ($0.17). The company had revenue of $498.50 million for the quarter, compared to the consensus estimate of $511.25 million. Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 20.56%. The business’s revenue was down 48.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 EPS. As a group, research analysts anticipate that Spirit Airlines will post -8.28 EPS for the current fiscal year.
About Spirit Airlines
Spirit Airlines, Inc provides low-fare airline services. The company operates approximately 600 daily flights to 77 destinations in the United States, the Caribbean, and Latin America. As of December 31, 2019, the company had a fleet of 145 Airbus single-aisle aircraft comprising 31 A319ceos, 64 A320ceos, 20 A320neos and 30 A321ceos.
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