Deutsche Bank Raises Spirit Airlines (SAVE) Price Target to $60.00

Spirit Airlines (NASDAQ:SAVE) had its target price hoisted by Deutsche Bank from $58.00 to $60.00 in a research note issued to investors on Wednesday. Deutsche Bank currently has a buy rating on the transportation company’s stock.

Several other analysts have also commented on the company. Cowen reaffirmed a market perform rating and set a $40.00 target price (down from $45.00) on shares of Spirit Airlines in a report on Wednesday. UBS assumed coverage on Spirit Airlines in a report on Monday. They set a neutral rating on the stock. Imperial Capital raised their target price on Spirit Airlines from $49.00 to $52.00 and gave the stock an outperform rating in a report on Tuesday, March 13th. Buckingham Research raised their target price on Spirit Airlines from $45.00 to $46.00 and gave the stock a neutral rating in a report on Friday, March 2nd. Finally, Morgan Stanley lowered their price target on Spirit Airlines from $43.00 to $42.00 and set an equal weight rating on the stock in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $48.92.

Spirit Airlines stock traded up $0.29 during midday trading on Wednesday, hitting $36.04. 130,239 shares of the company were exchanged, compared to its average volume of 1,427,871. Spirit Airlines has a fifty-two week low of $30.32 and a fifty-two week high of $60.28. 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 (NASDAQ:SAVE) last posted its earnings results on Tuesday, February 6th. The transportation company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $667.00 million for the quarter, compared to analyst estimates 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 last year, the company earned $0.77 earnings per share. sell-side analysts forecast that Spirit Airlines will post 3.08 EPS for the current fiscal year.

In other Spirit Airlines news, COO John A. Bendoraitis sold 1,690 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $44.63, for a total transaction of $75,424.70. 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 hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of Spirit Airlines by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock valued at $112,000 after acquiring an additional 141 shares in the last quarter. Letko Brosseau & Associates Inc. lifted its position in shares of Spirit Airlines by 0.3% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 602,760 shares of the transportation company’s stock valued at $27,034,000 after acquiring an additional 1,560 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Spirit Airlines by 25.3% in the third quarter. SG Americas Securities LLC now owns 9,209 shares of the transportation company’s stock valued at $308,000 after acquiring an additional 1,862 shares in the last quarter. Ironwood Investment Management LLC lifted its position in shares of Spirit Airlines by 5.1% in the fourth quarter. Ironwood Investment Management LLC now owns 38,895 shares of the transportation company’s stock valued at $1,744,000 after acquiring an additional 1,881 shares in the last quarter. Finally, Alexandria Capital LLC lifted its position in shares of Spirit Airlines by 4.0% in the fourth quarter. Alexandria Capital LLC now owns 49,500 shares of the transportation company’s stock valued at $2,220,000 after acquiring an additional 1,906 shares in the last quarter.

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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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