Spirit Airlines Incorporated (NASDAQ:SAVE) – Stock analysts at Imperial Capital upped their FY2019 earnings per share (EPS) estimates for shares of Spirit Airlines in a research report issued to clients and investors on Tuesday. Imperial Capital analyst M. Derchin now forecasts that the transportation company will post earnings per share of $4.00 for the year, up from their prior estimate of $3.75. Imperial Capital has a “Outperform” rating and a $52.00 price objective on the stock.
SAVE has been the topic of several other research reports. Buckingham Research upped their price objective on Spirit Airlines from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, March 2nd. Deutsche Bank upgraded Spirit Airlines from a “hold” rating to a “buy” rating and upped their price objective for the company from $40.00 to $58.00 in a research note on Thursday, December 21st. Stifel Nicolaus lowered Spirit Airlines from a “buy” rating to a “hold” rating and upped their price objective for the company from $45.00 to $50.00 in a research note on Monday, January 15th. Morgan Stanley lowered their target price on Spirit Airlines from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Finally, Bank of America upgraded Spirit Airlines from a “neutral” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $48.25.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Tuesday, February 6th. The transportation company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $667.00 million during the quarter, compared to analysts’ expectations of $666.12 million. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. Spirit Airlines’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in SAVE. The Manufacturers Life Insurance Company grew its stake in shares of Spirit Airlines by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock valued at $112,000 after buying an additional 141 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Spirit Airlines in the 3rd quarter valued at about $142,000. State of Alaska Department of Revenue acquired a new stake in shares of Spirit Airlines in the 4th quarter valued at about $183,000. LPL Financial LLC acquired a new stake in shares of Spirit Airlines in the 4th quarter valued at about $209,000. Finally, Advisor Group Inc. grew its stake in shares of Spirit Airlines by 196.5% in the 4th quarter. Advisor Group Inc. now owns 4,720 shares of the transportation company’s stock valued at $211,000 after buying an additional 3,128 shares during the period.
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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.
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