Spirit Airlines, Inc. (NASDAQ:SAVE) VP John A. Bendoraitis sold 2,340 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $42.92, for a total transaction of $100,432.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Spirit Airlines, Inc. (NASDAQ:SAVE) traded up $0.69 during midday trading on Thursday, hitting $42.89. 867,728 shares of the stock were exchanged, compared to its average volume of 1,437,973. Spirit Airlines, Inc. has a one year low of $30.32 and a one year high of $60.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $2,980.00, a P/E ratio of 12.76, a P/E/G ratio of 1.74 and a beta of 0.75.

Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Thursday, October 26th. The transportation company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.04. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The company had revenue of $687.20 million during the quarter, compared to the consensus estimate of $686.13 million. During the same quarter in the prior year, the company posted $1.24 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. analysts expect that Spirit Airlines, Inc. will post 3.08 EPS for the current fiscal year.

Spirit Airlines announced that its board has initiated a share buyback program on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

SAVE has been the subject of several analyst reports. Zacks Investment Research raised shares of Spirit Airlines from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Buckingham Research boosted their target price on shares of Spirit Airlines from $31.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. J P Morgan Chase & Co downgraded shares of Spirit Airlines from an “overweight” rating to a “neutral” rating and cut their target price for the company from $45.00 to $37.00 in a research note on Friday, September 15th. ValuEngine raised shares of Spirit Airlines from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Cowen reissued a “hold” rating and issued a $37.00 target price on shares of Spirit Airlines in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Spirit Airlines currently has an average rating of “Hold” and an average target price of $41.75.

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Personal Financial Services increased its position in Spirit Airlines by 87.9% during the 3rd quarter. First Personal Financial Services now owns 3,088 shares of the transportation company’s stock worth $103,000 after purchasing an additional 1,445 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Spirit Airlines by 7.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after purchasing an additional 141 shares in the last quarter. Advisor Group Inc. increased its position in Spirit Airlines by 18.8% during the 2nd quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock worth $113,000 after purchasing an additional 344 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Spirit Airlines during the 3rd quarter worth approximately $142,000. Finally, Intact Investment Management Inc. acquired a new stake in Spirit Airlines during the 2nd quarter worth approximately $238,000.

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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.

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