Spirit Airlines (NYSE:SAVE) Stock Rating Lowered by Susquehanna

Spirit Airlines (NYSE:SAVE) was downgraded by analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research report issued on Thursday, PriceTargets.com reports. They presently have a $25.00 price objective on the stock, down from their previous price objective of $31.00. Susquehanna’s target price would indicate a potential upside of 7.34% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Spirit Airlines from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, October 28th. Seaport Research Partners raised shares of Spirit Airlines from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Monday, December 13th. The Goldman Sachs Group decreased their target price on shares of Spirit Airlines from $35.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 6th. Seaport Res Ptn raised shares of Spirit Airlines from a “neutral” rating to a “buy” rating in a research note on Monday, December 13th. Finally, MKM Partners lowered Spirit Airlines from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Monday, January 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.82.

Shares of SAVE opened at $23.29 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.55 and a quick ratio of 1.55. Spirit Airlines has a 1-year low of $19.52 and a 1-year high of $40.77. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -4.35 and a beta of 1.53. The firm has a 50 day simple moving average of $22.64 and a 200-day simple moving average of $24.70.

Spirit Airlines (NYSE:SAVE) last announced its earnings results on Tuesday, October 26th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.33. Spirit Airlines had a negative return on equity of 23.44% and a negative net margin of 19.80%. The firm had revenue of $922.60 million for the quarter, compared to analysts’ expectations of $925.13 million. During the same quarter in the prior year, the firm earned ($2.32) EPS. Spirit Airlines’s quarterly revenue was up 129.5% on a year-over-year basis. On average, equities analysts expect that Spirit Airlines will post -4.2 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Clearview Wealth Advisors LLC raised its holdings in Spirit Airlines by 265.0% in the third quarter. Clearview Wealth Advisors LLC now owns 1,460 shares of the company’s stock valued at $38,000 after buying an additional 1,060 shares during the period. PSI Advisors LLC acquired a new stake in shares of Spirit Airlines in the third quarter worth $39,000. Dark Forest Capital Management LP raised its stake in shares of Spirit Airlines by 909.3% in the 3rd quarter. Dark Forest Capital Management LP now owns 1,736 shares of the company’s stock valued at $45,000 after acquiring an additional 1,564 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Spirit Airlines by 71.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 1,723 shares of the company’s stock valued at $52,000 after acquiring an additional 720 shares in the last quarter. Finally, Hoey Investments Inc. purchased a new stake in Spirit Airlines during the 3rd quarter worth $52,000. Institutional investors and hedge funds own 63.87% of the company’s stock.

Spirit Airlines Company Profile

Spirit Airlines, Inc is an airline that offers travel to price-conscious customers. Its customers start with an unbundled base fares that remove components included in the price of an airline ticket. The company was founded by Ned Homfeld in 1964 and is headquartered in Miramar, FL.

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Analyst Recommendations for Spirit Airlines (NYSE:SAVE)

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