Several brokerages have updated their recommendations and price targets on shares of Spirit Airlines (NASDAQ: SAVE) in the last few weeks:

  • 3/20/2017 – Spirit Airlines had its price target lowered by analysts at Cowen and Company from $59.00 to $58.00. They now have a “market perform” rating on the stock.
  • 3/17/2017 – Spirit Airlines had its “outperform” rating reaffirmed by analysts at Imperial Capital.
  • 3/6/2017 – Spirit Airlines was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Spirit Airlines have outperformed the Zacks-categorized Transportation- Airline market over the last six months. Ushering in further good news, the company reported better-than expected earnings per share in the fourth quarter of 2016. However, the company struggled on the top line front, reporting lower-than-expected revenues. We are, however, positive on the carrier’s constant efforts to expand its operations. The company’s efforts to reward stockholders through share buybacks are also impressive. We are also encouraged by the commencement of flights to Havana by the carrier.”
  • 3/3/2017 – Spirit Airlines had its “outperform” rating reaffirmed by analysts at Imperial Capital. They now have a $68.00 price target on the stock, up previously from $58.00.
  • 3/2/2017 – Spirit Airlines was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $60.00 price target on the stock. According to Zacks, “Shares of Spirit Airlines have outperformed the Zacks-categorized Transportation- Airline market over the last six months. Ushering in further good news, the company reported better-than expected earnings per share in the fourth quarter of 2016. However, the company struggled on the top line front, reporting lower-than-expected revenues. We are, however, positive on the carrier’s constant efforts to expand its operations. The company’s efforts to reward stockholders through share buybacks are also impressive. We are also encouraged by the commencement of flights to Havana by the carrier.”
  • 2/27/2017 – Spirit Airlines was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Spirit Airlines have struggled of late, underperforming the broader market over the last one month. Even though the company reported better-than expected earnings in the fourth quarter, the bottom-line contracted significantly on a year-over-year basis due to higher costs. Moreover, the company struggled on the top line front, reporting lower-than-expected revenues. Additionally, the decline in load factor for January is concerning. The metric declined as traffic growth was outpaced by capacity expansion. We are, however, positive on the carrier’s constant efforts to expand its operations. The company’s efforts to reward stockholders through share buybacks are also impressive.”
  • 2/8/2017 – Spirit Airlines had its price target raised by analysts at Cowen and Company from $58.00 to $59.00. They now have a “market perform” rating on the stock.

Shares of Spirit Airlines Incorporated (NASDAQ:SAVE) opened at 51.10 on Tuesday. The firm’s 50-day moving average price is $52.62 and its 200-day moving average price is $50.44. The stock has a market cap of $3.54 billion, a P/E ratio of 13.59 and a beta of 0.78. Spirit Airlines Incorporated has a 52-week low of $37.17 and a 52-week high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Tuesday, February 7th. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.03. The business earned $578.40 million during the quarter, compared to analyst estimates of $578.35 million. Spirit Airlines had a return on equity of 22.22% and a net margin of 11.41%. Spirit Airlines’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 EPS. Equities analysts predict that Spirit Airlines Incorporated will post $3.92 EPS for the current year.

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Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.

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