Brokerages Set Spirit Airlines, Inc. (NASDAQ:SAVE) PT at $23.17

Spirit Airlines, Inc. (NASDAQ:SAVE) has received a consensus rating of “Hold” from the seventeen brokerages that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $23.17.

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Spirit Airlines from an “overweight” rating to an “underweight” rating and set a $25.00 target price for the company. in a report on Wednesday, December 16th. Evercore ISI raised shares of Spirit Airlines from an “in-line” rating to an “outperform” rating in a report on Thursday, October 8th. Barclays increased their target price on shares of Spirit Airlines from $18.00 to $24.00 in a report on Friday, September 18th. Zacks Investment Research upgraded shares of Spirit Airlines from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a report on Monday, November 2nd. Finally, BidaskClub lowered shares of Spirit Airlines from a “buy” rating to a “hold” rating in a report on Friday, December 25th.

SAVE stock opened at $24.45 on Wednesday. Spirit Airlines has a 12 month low of $7.01 and a 12 month high of $47.50. The firm has a 50-day moving average price of $23.75 and a 200-day moving average price of $18.96.

Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Monday, November 2nd. The transportation company reported ($2.32) EPS for the quarter, topping analysts’ consensus estimates of ($2.64) by $0.32. The company had revenue of $401.92 million during the quarter, compared to the consensus estimate of $384.69 million.

In other Spirit Airlines news, Director H. Mcintyre Gardner sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 17th. The shares were sold at an average price of $26.21, for a total transaction of $131,050.00. Corporate insiders own 0.33% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its position in Spirit Airlines by 63.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,999 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 777 shares during the period. Clearstead Advisors LLC acquired a new stake in Spirit Airlines during the 3rd quarter valued at approximately $47,000. Private Advisor Group LLC acquired a new stake in Spirit Airlines during the 2nd quarter valued at approximately $137,000. PNC Financial Services Group Inc. increased its position in Spirit Airlines by 22.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,986 shares of the transportation company’s stock valued at $141,000 after purchasing an additional 1,448 shares during the period. Finally, Inverness Counsel LLC NY acquired a new stake in Spirit Airlines during the 3rd quarter valued at approximately $161,000.

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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Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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