Spirit Airlines Inc. (NASDAQ:SAVE) Given Average Rating of “Buy” by Brokerages
Shares of Spirit Airlines Inc. (NASDAQ:SAVE) have been assigned a consensus rating of “Buy” from the nineteen analysts that are currently covering the company. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $59.18.
A number of brokerages have recently commented on SAVE. Vetr raised Spirit Airlines from a “buy” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a research report on Monday. Credit Suisse Group AG set a $55.00 price objective on Spirit Airlines and gave the company a “buy” rating in a research report on Tuesday, September 13th. Wolfe Research downgraded Spirit Airlines from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd. Zacks Investment Research raised Spirit Airlines from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $56.00 target price on shares of Spirit Airlines in a report on Tuesday, July 19th.
Hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Spirit Airlines by 3.2% in the first quarter. State Street Corp now owns 965,922 shares of the company’s stock worth $46,349,000 after buying an additional 29,746 shares during the last quarter. Cupps Capital Management LLC acquired a new stake in shares of Spirit Airlines during the first quarter worth about $5,925,000. OMERS ADMINISTRATION Corp raised its stake in shares of Spirit Airlines by 6.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 9,900 shares of the company’s stock worth $475,000 after buying an additional 600 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Spirit Airlines by 6.2% in the first quarter. Canada Pension Plan Investment Board now owns 24,000 shares of the company’s stock worth $1,152,000 after buying an additional 1,400 shares during the last quarter. Finally, Menta Capital LLC acquired a new stake in shares of Spirit Airlines during the first quarter worth about $657,000. 98.20% of the stock is currently owned by institutional investors and hedge funds.
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Spirit Airlines (NASDAQ:SAVE) traded up 1.59% on Monday, hitting $42.91. The stock had a trading volume of 200,076 shares. The firm has a market cap of $3.00 billion, a PE ratio of 10.01 and a beta of 1.18. The company’s 50 day moving average is $40.12 and its 200 day moving average is $43.22. Spirit Airlines has a 12-month low of $32.73 and a 12-month high of $53.53.
Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.03. The business earned $584.10 million during the quarter, compared to the consensus estimate of $594.47 million. Spirit Airlines had a return on equity of 25.93% and a net margin of 13.83%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, equities research analysts expect that Spirit Airlines will post $3.91 EPS for the current fiscal year.
Spirit Airlines Company Profile
Spirit Airlines, Inc is an airline company. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket.
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