Spirit Airlines, Inc. (NASDAQ:SAVE) had its price objective cut by equities researchers at Barclays PLC from $67.00 to $50.00 in a report issued on Monday. The firm currently has an “equal weight” rating on the transportation company’s stock. Barclays PLC’s target price points to a potential upside of 30.72% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Citigroup Inc. reiterated a “neutral” rating and issued a $60.00 price objective (up from $58.00) on shares of Spirit Airlines in a research report on Saturday, April 22nd. Imperial Capital reiterated an “outperform” rating and issued a $70.00 price objective (up from $68.00) on shares of Spirit Airlines in a research report on Thursday, April 20th. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 price objective on shares of Spirit Airlines in a research report on Saturday, April 22nd. Wolfe Research upgraded shares of Spirit Airlines from a “market perform” rating to an “outperform” rating in a research report on Friday, June 2nd. Finally, Cowen and Company lifted their price objective on shares of Spirit Airlines from $58.00 to $62.00 and gave the company a “market perform” rating in a research report on Tuesday, April 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $53.54.

Spirit Airlines (NASDAQ:SAVE) traded up 0.50% during midday trading on Monday, reaching $38.44. The company’s stock had a trading volume of 456,643 shares. The company has a market cap of $2.67 billion, a PE ratio of 11.14 and a beta of 0.57. Spirit Airlines has a 12 month low of $37.17 and a 12 month high of $60.40. The stock has a 50-day moving average price of $47.38 and a 200 day moving average price of $52.24.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The company had revenue of $701.68 million for the quarter, compared to analysts’ expectations of $702.29 million. During the same quarter last year, the company earned $1.11 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts expect that Spirit Airlines will post $3.61 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. boosted its stake in Spirit Airlines by 18.8% in the second quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock valued at $113,000 after buying an additional 344 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in Spirit Airlines by 4.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,230 shares of the transportation company’s stock valued at $105,000 after buying an additional 99 shares during the period. Legal & General Group Plc boosted its stake in Spirit Airlines by 131.8% in the first quarter. Legal & General Group Plc now owns 2,253 shares of the transportation company’s stock valued at $108,000 after buying an additional 1,281 shares during the period. Teacher Retirement System of Texas boosted its stake in Spirit Airlines by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 2,515 shares of the transportation company’s stock valued at $113,000 after buying an additional 302 shares during the period. Finally, James Investment Research Inc. acquired a new stake in Spirit Airlines during the first quarter valued at approximately $137,000. 98.47% of the stock is owned by hedge funds and other institutional investors.

About Spirit Airlines

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.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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