Barclays Raises Spirit Airlines (NASDAQ:SAVE) Price Target to $24.00

Spirit Airlines (NASDAQ:SAVE) had its price objective increased by Barclays from $18.00 to $24.00 in a research note published on Friday morning, The Fly reports.

A number of other research analysts have also issued reports on SAVE. BidaskClub upgraded shares of Spirit Airlines from a sell rating to a hold rating in a report on Thursday. Seaport Global Securities began coverage on shares of Spirit Airlines in a research note on Wednesday, June 17th. They set a buy rating and a $29.00 price objective on the stock. Citigroup lifted their target price on shares of Spirit Airlines from $14.00 to $22.00 and gave the stock a buy rating in a research note on Monday, June 15th. TheStreet lowered Spirit Airlines from a c- rating to a d+ rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on Spirit Airlines from $10.00 to $14.00 in a report on Wednesday, June 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $26.71.

Shares of NASDAQ:SAVE opened at $17.70 on Friday. The business’s fifty day moving average price is $17.50 and its two-hundred day moving average price is $15.86. Spirit Airlines has a one year low of $7.01 and a one year high of $47.50.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported ($3.59) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.70) by ($0.89). The firm had revenue of $138.53 million during the quarter, compared to analyst estimates of $118.50 million.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Spirit Airlines by 21.2% in the 2nd quarter. Vanguard Group Inc. now owns 7,712,974 shares of the transportation company’s stock valued at $137,291,000 after buying an additional 1,351,266 shares in the last quarter. Par Capital Management Inc. lifted its position in shares of Spirit Airlines by 221.4% during the 1st quarter. Par Capital Management Inc. now owns 1,639,921 shares of the transportation company’s stock valued at $21,139,000 after acquiring an additional 1,129,721 shares during the last quarter. Balyasny Asset Management LLC boosted its stake in shares of Spirit Airlines by 4,819.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 509,591 shares of the transportation company’s stock worth $9,071,000 after acquiring an additional 499,233 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Spirit Airlines by 50.7% in the 1st quarter. Franklin Resources Inc. now owns 1,480,962 shares of the transportation company’s stock worth $19,089,000 after acquiring an additional 498,353 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of Spirit Airlines by 17.7% during the first quarter. Nuveen Asset Management LLC now owns 2,019,612 shares of the transportation company’s stock worth $26,033,000 after purchasing an additional 303,495 shares during the period.

About Spirit Airlines

Spirit Airlines, Inc provides low-fare airline services. The company operates approximately 600 daily flights to 77 destinations in the United States, the Caribbean, and Latin America. As of December 31, 2019, the company had a fleet of 145 Airbus single-aisle aircraft comprising 31 A319ceos, 64 A320ceos, 20 A320neos and 30 A321ceos.

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