Spirit Airlines, Inc. (NASDAQ:SAVE) has been assigned a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $46.83.
A number of research analysts have commented on the company. J P Morgan Chase & Co lowered Spirit Airlines from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $37.00 in a report on Friday. Deutsche Bank AG decreased their price objective on Spirit Airlines from $54.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, September 6th. ValuEngine lowered Spirit Airlines from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price objective (down from $46.00) on shares of Spirit Airlines in a report on Friday, September 1st. Finally, Cowen and Company reiterated a “hold” rating and set a $45.00 target price on shares of Spirit Airlines in a research report on Friday, September 1st.
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Several hedge funds have recently modified their holdings of SAVE. Canada Pension Plan Investment Board increased its stake in shares of Spirit Airlines by 58.4% in the first quarter. Canada Pension Plan Investment Board now owns 44,200 shares of the transportation company’s stock valued at $2,346,000 after buying an additional 16,300 shares during the period. Empire Life Investments Inc. increased its stake in shares of Spirit Airlines by 7.4% in the first quarter. Empire Life Investments Inc. now owns 82,740 shares of the transportation company’s stock valued at $3,654,000 after buying an additional 5,689 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Spirit Airlines by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 323,709 shares of the transportation company’s stock valued at $17,179,000 after buying an additional 10,452 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Spirit Airlines by 286.9% in the first quarter. BNP Paribas Arbitrage SA now owns 13,271 shares of the transportation company’s stock valued at $704,000 after buying an additional 9,841 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in shares of Spirit Airlines in the first quarter valued at about $368,000. 97.00% of the stock is owned by institutional investors.
Shares of Spirit Airlines (NASDAQ:SAVE) traded down 3.27% on Friday, reaching $33.69. The company had a trading volume of 3,111,679 shares. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 9.77 and a beta of 0.62. The company’s 50-day moving average price is $36.30 and its 200-day moving average price is $49.06. Spirit Airlines has a 52-week low of $30.32 and a 52-week high of $60.40.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.03. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The firm had revenue of $701.68 million for the quarter, compared to analyst estimates of $702.29 million. During the same period in the prior year, the firm posted $1.11 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, analysts predict that Spirit Airlines will post $3.19 earnings per share for the current year.
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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