Spirit Airlines Inc. (SAVE) Stock Rating Upgraded by Vetr Inc.
Spirit Airlines Inc. (NASDAQ:SAVE) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Monday. The firm currently has a $48.00 target price on the stock. Vetr‘s price objective would indicate a potential upside of 11.94% from the stock’s previous close.
Several other research firms also recently commented on SAVE. Raymond James Financial Inc. raised Spirit Airlines from an “outperform” rating to a “strong-buy” rating and set a $59.00 price objective on the stock in a research note on Thursday, August 4th. Credit Suisse Group AG set a $55.00 price objective on Spirit Airlines and gave the stock a “buy” rating in a research note on Tuesday, September 13th. Deutsche Bank AG decreased their price objective on Spirit Airlines from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, August 1st. Zacks Investment Research downgraded Spirit Airlines from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 29th. Finally, Imperial Capital started coverage on Spirit Airlines in a research note on Thursday, September 29th. They issued an “outperform” rating and a $51.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $58.50.
Spirit Airlines (NASDAQ:SAVE) traded up 1.52% during mid-day trading on Monday, reaching $42.88. 843,834 shares of the company traded hands. The company’s 50-day moving average is $40.21 and its 200-day moving average is $43.12. Spirit Airlines has a 12-month low of $32.73 and a 12-month high of $53.53. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 10.01 and a beta of 1.18.
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Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.08 by $0.03. Spirit Airlines had a return on equity of 25.93% and a net margin of 13.83%. The firm had revenue of $584.10 million for the quarter, compared to the consensus estimate of $594.47 million. During the same quarter last year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts predict that Spirit Airlines will post $3.91 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of SAVE. Vanguard Group Inc. boosted its position in Spirit Airlines by 2.0% in the second quarter. Vanguard Group Inc. now owns 4,975,151 shares of the company’s stock worth $223,235,000 after buying an additional 99,239 shares during the last quarter. Franklin Resources Inc. boosted its position in Spirit Airlines by 18.7% in the second quarter. Franklin Resources Inc. now owns 1,823,468 shares of the company’s stock worth $81,820,000 after buying an additional 287,560 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Spirit Airlines by 7.8% in the second quarter. Ameriprise Financial Inc. now owns 1,803,378 shares of the company’s stock worth $80,927,000 after buying an additional 131,079 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Spirit Airlines by 5.2% in the first quarter. UBS Asset Management Americas Inc. now owns 1,731,318 shares of the company’s stock worth $83,069,000 after buying an additional 86,145 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Spirit Airlines by 583.0% in the first quarter. Wellington Management Group LLP now owns 1,618,183 shares of the company’s stock worth $77,641,000 after buying an additional 1,381,250 shares during the last quarter. Institutional investors own 98.20% of the company’s stock.
About Spirit Airlines
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.
To view Vetr’s full report, visit Vetr’s official website.
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