Spirit Airlines (NASDAQ:SAVE)‘s stock had its “hold” rating reiterated by investment analysts at Imperial Capital in a research note issued on Thursday, MarketBeat reports. They currently have a $42.00 price objective on the transportation company’s stock, up from their prior price objective of $36.00. Imperial Capital’s target price points to a potential downside of 7.07% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Stephens assumed coverage on Spirit Airlines in a research report on Wednesday, November 29th. They set an “overweight” rating and a $50.00 target price on the stock. Cowen reissued a “hold” rating and set a $37.00 target price on shares of Spirit Airlines in a research report on Tuesday, October 17th. Zacks Investment Research lowered Spirit Airlines from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Stifel Nicolaus cut their target price on Spirit Airlines from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. Finally, BidaskClub lowered Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $46.75.

Shares of Spirit Airlines (NASDAQ SAVE) traded up $0.30 during midday trading on Thursday, hitting $45.20. The stock had a trading volume of 310,897 shares, compared to its average volume of 1,390,000. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Spirit Airlines has a 1-year low of $30.32 and a 1-year high of $60.28. The firm has a market cap of $3,110.00, a price-to-earnings ratio of 14.35, a PEG ratio of 1.82 and a beta of 0.75.

Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Thursday, October 26th. The transportation company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. The business had revenue of $687.20 million for the quarter, compared to analyst estimates of $686.13 million. During the same quarter last year, the company earned $1.24 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. sell-side analysts forecast that Spirit Airlines will post 3.08 earnings per share for the current year.

Spirit Airlines declared that its board has approved a stock repurchase program on Thursday, October 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other Spirit Airlines news, VP John A. Bendoraitis sold 2,340 shares of Spirit Airlines stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $42.92, for a total transaction of $100,432.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAVE. Schwab Charles Investment Management Inc. increased its position in Spirit Airlines by 5.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 285,782 shares of the transportation company’s stock worth $14,761,000 after buying an additional 14,790 shares during the period. Legal & General Group Plc increased its position in Spirit Airlines by 8.0% during the second quarter. Legal & General Group Plc now owns 20,480 shares of the transportation company’s stock worth $1,057,000 after buying an additional 1,522 shares during the period. Neuberger Berman Group LLC acquired a new position in Spirit Airlines during the second quarter worth approximately $620,000. Amalgamated Bank increased its position in Spirit Airlines by 22.4% during the second quarter. Amalgamated Bank now owns 12,549 shares of the transportation company’s stock worth $648,000 after buying an additional 2,297 shares during the period. Finally, BlueMountain Capital Management LLC acquired a new position in Spirit Airlines during the second quarter worth approximately $1,115,000.

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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.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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