Spirit Airlines Price Target Increased to $41.00 by Analysts at Barclays Capital (SAVE)
Equities researchers at Barclays Capital raised their price objective on shares of Spirit Airlines (NASDAQ:SAVE) from $38.00 to $41.00 in a research report issued on Friday, Analyst Ratings Network reports. The firm currently has an “overweight” rating on the stock. Barclays Capital’s price target suggests a potential upside of 20.38% from the company’s current price.
Shares of Spirit Airlines (NASDAQ:SAVE) traded up 12.01% on Friday, hitting $38.15. The stock had a trading volume of 1,502,433 shares. Spirit Airlines has a 52 week low of $15.64 and a 52 week high of $36.83. The stock has a 50-day moving average of $33.13 and a 200-day moving average of $30.96. The company has a market cap of $2.770 billion and a price-to-earnings ratio of 20.14.
Spirit Airlines (NASDAQ:SAVE) last released its earnings data on Wednesday, July 24th. The company reported $0.63 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.62 by $0.01. The company had revenue of $407.30 million for the quarter, compared to the consensus estimate of $408.30 million. During the same quarter last year, the company posted $0.49 earnings per share. Spirit Airlines’s revenue was up 17.6% compared to the same quarter last year. Analysts expect that Spirit Airlines will post $2.20 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. upgraded shares of Spirit Airlines from a “neutral” rating to a “buy” rating in a research note to investors on Friday. They now have a $42.00 price target on the stock, up previously from $38.00. Finally, analysts at Imperial Capital reiterated a “buy” rating on shares of Spirit Airlines in a research note to investors on Tuesday, September 10th. They now have a $40.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.43.
Spirit Airlines, Inc (NASDAQ:SAVE) is an airline company.
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