Spirit Airlines (SAVE) Coverage Initiated at UBS

UBS initiated coverage on shares of Spirit Airlines (NASDAQ:SAVE) in a research report report published on Monday, The Fly reports. The firm issued a neutral rating on the transportation company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Imperial Capital boosted their price target on shares of Spirit Airlines from $49.00 to $52.00 and gave the stock an outperform rating in a research note on Tuesday, March 13th. Buckingham Research boosted their price target on shares of Spirit Airlines from $45.00 to $46.00 and gave the stock a neutral rating in a research note on Friday, March 2nd. Morgan Stanley dropped their price target on shares of Spirit Airlines from $43.00 to $42.00 and set an equal weight rating for the company in a research note on Wednesday, February 7th. Macquarie raised shares of Spirit Airlines from a neutral rating to an outperform rating and set a $33.00 price target for the company in a research note on Wednesday, February 7th. Finally, Cowen dropped their price target on shares of Spirit Airlines from $49.00 to $45.00 and set a market perform rating for the company in a research note 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 stock. The stock currently has an average rating of Hold and a consensus price target of $48.92.

Shares of SAVE stock opened at $36.29 on Monday. Spirit Airlines has a 1 year low of $30.32 and a 1 year 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 announced its earnings results on Tuesday, February 6th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $667.00 million for the quarter, compared to analyst estimates of $666.12 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. Spirit Airlines’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 earnings per share. equities research analysts forecast that Spirit Airlines will post 3.08 earnings per share for the current year.

In other Spirit Airlines news, COO John A. Bendoraitis sold 1,690 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $44.63, for a total value of $75,424.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. OppenheimerFunds Inc. increased its stake in Spirit Airlines by 10.2% in the fourth quarter. OppenheimerFunds Inc. now owns 5,455,076 shares of the transportation company’s stock valued at $244,660,000 after purchasing an additional 503,894 shares in the last quarter. Franklin Resources Inc. increased its stake in Spirit Airlines by 18.9% in the fourth quarter. Franklin Resources Inc. now owns 3,379,422 shares of the transportation company’s stock valued at $151,567,000 after purchasing an additional 537,786 shares in the last quarter. BlackRock Inc. increased its stake in Spirit Airlines by 2.6% in the fourth quarter. BlackRock Inc. now owns 2,674,471 shares of the transportation company’s stock valued at $119,952,000 after purchasing an additional 68,566 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Spirit Airlines by 637.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,036,785 shares of the transportation company’s stock valued at $91,350,000 after purchasing an additional 1,760,564 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Spirit Airlines by 29.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,930,412 shares of the transportation company’s stock valued at $64,495,000 after purchasing an additional 436,012 shares in the last quarter.

ILLEGAL ACTIVITY NOTICE: This story was originally published by Dakota Financial News and is the sole property of of Dakota Financial News. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://dakotafinancialnews.com/2018/04/13/spirit-airlines-save-coverage-initiated-at-ubs.html.

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.

The Fly

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