Spirit Airlines Shares Gap Up Following Analyst Upgrade (SAVE)
Spirit Airlines (NASDAQ:SAVE)’s share price gapped up prior to trading on Wednesday after Imperial Capital raised their price target on the stock from $68.00 to $73.00, Stock Ratings Network.com reports. The stock had previously closed at $65.44, but opened at $65.69. Imperial Capital currently has an outperform rating on the stock. Spirit Airlines shares last traded at $66.50, with a volume of 640,243 shares.
A number of other firms have also recently commented on SAVE. Analysts at ISI Group raised their price target on shares of Spirit Airlines to $73.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Spirit Airlines from $72.00 to $77.00 in a research note on Wednesday. They now have an “overweight” rating on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Spirit Airlines in a research note on Friday, July 11th. They now have a $77.00 price target on the stock, up previously from $65.00. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Spirit Airlines currently has a consensus rating of “Buy” and an average price target of $71.95.
The stock has a 50-day moving average of $62.30 and a 200-day moving average of $56.25. The company has a market cap of $4.849 billion and a price-to-earnings ratio of 26.18.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.01. The company had revenue of $438.00 million for the quarter, compared to the consensus estimate of $437.91 million. During the same quarter last year, the company posted $0.45 earnings per share. Spirit Airlines’s revenue was up 18.3% compared to the same quarter last year. Analysts expect that Spirit Airlines will post $2.97 EPS for the current fiscal year.
Spirit Airlines, Inc (NASDAQ:SAVE) is an airline company.
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