Spirit Airlines, Inc. (SAVE) Given Consensus Rating of “Hold” by Analysts
Shares of Spirit Airlines, Inc. (NASDAQ:SAVE) have been given a consensus rating of “Hold” by the seventeen research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $45.05.
Several equities analysts recently issued reports on the stock. TheStreet downgraded shares of Spirit Airlines from a “b-” rating to a “c+” rating in a report on Monday, August 7th. Stifel Nicolaus reissued a “buy” rating and set a $55.00 price target on shares of Spirit Airlines in a report on Thursday, September 28th. Zacks Investment Research raised shares of Spirit Airlines from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Morgan Stanley cut their price target on shares of Spirit Airlines from $54.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, August 17th. Finally, J P Morgan Chase & Co raised shares of Spirit Airlines from a “neutral” rating to an “overweight” rating and cut their price target for the company from $56.00 to $45.00 in a report on Tuesday, August 1st.
Spirit Airlines (NASDAQ SAVE) traded down 1.00% on Wednesday, reaching $34.65. 923,419 shares of the company’s stock traded hands. The stock has a market capitalization of $2.40 billion, a PE ratio of 10.04 and a beta of 0.66. The firm’s 50-day moving average is $34.18 and its 200 day moving average is $46.82. Spirit Airlines has a 52-week low of $30.32 and a 52-week high of $60.40.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 EPS 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 during the quarter, compared to the consensus estimate of $702.29 million. During the same period last year, the firm earned $1.11 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. Analysts forecast that Spirit Airlines will post $2.92 EPS for the current year.
In other Spirit Airlines news, Director H. Mcintyre Gardner purchased 5,000 shares of the stock in a transaction dated Friday, September 15th. The stock was bought at an average price of $33.78 per share, for a total transaction of $168,900.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by insiders.
Several large investors have recently modified their holdings of SAVE. Empire Life Investments Inc. grew its position in shares of Spirit Airlines by 7.4% during the 1st quarter. Empire Life Investments Inc. now owns 82,740 shares of the transportation company’s stock worth $3,654,000 after buying an additional 5,689 shares during the period. Bank of New York Mellon Corp grew its position in shares of Spirit Airlines by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 323,709 shares of the transportation company’s stock worth $17,179,000 after buying an additional 10,452 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Spirit Airlines during the 1st quarter worth approximately $368,000. Parametric Portfolio Associates LLC grew its position in shares of Spirit Airlines by 25.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 89,541 shares of the transportation company’s stock worth $4,752,000 after buying an additional 18,433 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Spirit Airlines by 26.0% during the 1st quarter. Principal Financial Group Inc. now owns 11,995 shares of the transportation company’s stock worth $637,000 after buying an additional 2,473 shares during the period. Institutional investors own 96.99% of the company’s stock.
Spirit Airlines Company Profile
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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