Spirit Airlines Given Consensus Recommendation of “Buy” by Analysts (NASDAQ:SAVE)
Spirit Airlines (NASDAQ:SAVE) has been given an average recommendation of “Buy” by the sixteen ratings firms that are presently covering the stock, ARN reports. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $75.19.
SAVE has been the subject of a number of recent research reports. Analysts at Barclays reiterated a “buy” rating on shares of Spirit Airlines in a research note on Thursday, July 31st. They now have a $79.00 price target on the stock, up previously from $78.00. Separately, analysts at Stifel Nicolaus raised their price target on shares of Spirit Airlines from $75.00 to $80.00 in a research note on Thursday, July 31st. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Spirit Airlines in a research note on Wednesday, July 30th. They now have a $82.00 price target on the stock, up previously from $76.00.
Spirit Airlines (NASDAQ:SAVE) opened at 67.93 on Tuesday. Spirit Airlines has a 52 week low of $29.65 and a 52 week high of $70.00. The stock has a 50-day moving average of $65.24 and a 200-day moving average of $58.71. The company has a market cap of $4.941 billion and a P/E ratio of 24.10.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $499.30 million for the quarter, compared to the consensus estimate of $497.77 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, analysts predict that Spirit Airlines will post $3.10 earnings per share for the current fiscal year.
In other Spirit Airlines news, Director Robert D. Johnson sold 2,500 shares of the stock on the open market in a transaction dated Friday, August 8th. The stock was sold at an average price of $65.28, for a total transaction of $163,200.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Spirit Airlines, Inc (NASDAQ:SAVE) is an airline company.
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