Spirit Airlines Incorporated (SAVE) Given Consensus Rating of “Hold” by Analysts

Spirit Airlines Incorporated (NASDAQ:SAVE) has been assigned a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $47.33.

SAVE has been the topic of several research reports. BidaskClub raised shares of Spirit Airlines from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Deutsche Bank raised shares of Spirit Airlines from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $58.00 in a research note on Thursday, December 21st. ValuEngine raised shares of Spirit Airlines from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Citigroup boosted their price objective on shares of Spirit Airlines from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, Stifel Nicolaus dropped their price objective on shares of Spirit Airlines from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th.

In other news, VP John A. Bendoraitis sold 2,340 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $42.92, for a total value of $100,432.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAVE. Advisor Group Inc. raised its holdings in shares of Spirit Airlines by 18.8% during the second quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock valued at $113,000 after purchasing an additional 344 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Spirit Airlines during the second quarter valued at approximately $645,000. Cubist Systematic Strategies LLC raised its holdings in shares of Spirit Airlines by 17,939.8% during the second quarter. Cubist Systematic Strategies LLC now owns 14,973 shares of the transportation company’s stock valued at $773,000 after purchasing an additional 14,890 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Spirit Airlines by 7.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock valued at $112,000 after purchasing an additional 141 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of Spirit Airlines during the second quarter valued at approximately $361,000.

Spirit Airlines (NASDAQ SAVE) traded down $0.82 during trading hours on Tuesday, reaching $39.09. 2,430,000 shares of the company traded hands, compared to its average volume of 1,540,000. Spirit Airlines has a 1-year low of $30.32 and a 1-year high of $60.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market capitalization of $2,710.00, a price-to-earnings ratio of 6.43, a P/E/G ratio of 1.82 and a beta of 0.60.

Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Tuesday, February 6th. The transportation company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The business had revenue of $667.00 million for the quarter, compared to analyst estimates of $666.12 million. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Spirit Airlines’s quarterly revenue was up 15.3% on a year-over-year basis. analysts anticipate that Spirit Airlines will post 3.08 earnings per share for the current year.

Spirit Airlines declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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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.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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