Spirit Airlines (SAVE) Downgraded by BidaskClub

Spirit Airlines (NASDAQ:SAVE) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other equities analysts have also issued reports on the stock. Buckingham Research upgraded shares of Spirit Airlines from a “neutral” rating to a “buy” rating and increased their target price for the company from $42.00 to $52.00 in a research report on Wednesday, July 25th. Imperial Capital increased their target price on shares of Spirit Airlines from $53.00 to $61.00 and gave the company an “outperform” rating in a research report on Friday, July 27th. Citigroup increased their target price on shares of Spirit Airlines from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, July 12th. Zacks Investment Research upgraded shares of Spirit Airlines from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Tuesday, September 11th. Finally, Barclays decreased their target price on shares of Spirit Airlines from $49.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, July 16th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.15.

Spirit Airlines stock opened at $46.45 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Spirit Airlines has a one year low of $32.99 and a one year high of $49.63.

Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Wednesday, July 25th. The transportation company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.02. The firm had revenue of $851.80 million during the quarter, compared to analyst estimates of $851.83 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. Spirit Airlines’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. analysts expect that Spirit Airlines will post 3.08 EPS for the current year.

In other Spirit Airlines news, Director Robert D. Johnson sold 750 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $47.53, for a total value of $35,647.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rocky Wiggins sold 566 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $47.89, for a total transaction of $27,105.74. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royal London Asset Management Ltd. acquired a new stake in Spirit Airlines in the 2nd quarter valued at about $4,345,000. Northern Trust Corp lifted its holdings in Spirit Airlines by 162.5% in the 2nd quarter. Northern Trust Corp now owns 816,438 shares of the transportation company’s stock valued at $29,677,000 after acquiring an additional 505,447 shares during the last quarter. FMR LLC lifted its holdings in Spirit Airlines by 12.0% in the 2nd quarter. FMR LLC now owns 10,236,765 shares of the transportation company’s stock valued at $372,107,000 after acquiring an additional 1,100,206 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Spirit Airlines by 22.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 345,397 shares of the transportation company’s stock valued at $12,555,000 after acquiring an additional 62,989 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Spirit Airlines by 13.3% in the 2nd quarter. Schroder Investment Management Group now owns 2,070,473 shares of the transportation company’s stock valued at $73,233,000 after acquiring an additional 242,380 shares during the last quarter.

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.

See Also: Growth Stocks

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

Receive News & Ratings for Spirit Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply