Spirit Airlines, Inc. (NYSE:SAVE) Receives $34.53 Average PT from Brokerages

Shares of Spirit Airlines, Inc. (NYSE:SAVE) have been assigned a consensus rating of “Hold” from the eighteen brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $34.53.

Several research analysts have recently weighed in on SAVE shares. Citigroup decreased their price target on Spirit Airlines from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, September 22nd. The Goldman Sachs Group cut their price target on Spirit Airlines from $35.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 6th. JPMorgan Chase & Co. downgraded Spirit Airlines from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $43.00 to $34.00 in a research report on Friday, October 1st. Susquehanna decreased their target price on Spirit Airlines from $40.00 to $36.00 and set a “positive” rating on the stock in a research report on Tuesday, August 17th. Finally, Evercore ISI restated a “hold” rating and set a $35.00 price objective on shares of Spirit Airlines in a research report on Thursday, August 12th.

Large investors have recently bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in shares of Spirit Airlines during the 1st quarter valued at about $26,000. Clearview Wealth Advisors LLC boosted its holdings in Spirit Airlines by 265.0% in the 3rd quarter. Clearview Wealth Advisors LLC now owns 1,460 shares of the company’s stock worth $38,000 after buying an additional 1,060 shares during the last quarter. PSI Advisors LLC acquired a new stake in Spirit Airlines in the 3rd quarter worth about $39,000. Sandy Spring Bank acquired a new stake in Spirit Airlines in the 2nd quarter worth about $44,000. Finally, Dark Forest Capital Management LP boosted its holdings in Spirit Airlines by 909.3% in the 3rd quarter. Dark Forest Capital Management LP now owns 1,736 shares of the company’s stock worth $45,000 after buying an additional 1,564 shares during the last quarter. Hedge funds and other institutional investors own 63.54% of the company’s stock.

Shares of SAVE stock traded up $0.14 during trading hours on Friday, reaching $22.38. The company’s stock had a trading volume of 3,217,016 shares, compared to its average volume of 4,285,938. The stock has a market capitalization of $2.43 billion, a P/E ratio of -4.18 and a beta of 1.55. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.35. The firm’s fifty day simple moving average is $24.37 and its 200 day simple moving average is $27.77. Spirit Airlines has a one year low of $21.56 and a one year high of $40.77.

Spirit Airlines (NYSE:SAVE) last released its earnings results on Tuesday, October 26th. The company reported ($0.69) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.02) by $0.33. The company had revenue of $922.60 million during the quarter, compared to analysts’ expectations of $925.13 million. Spirit Airlines had a negative return on equity of 23.44% and a negative net margin of 19.80%. The firm’s revenue for the quarter was up 129.5% compared to the same quarter last year. During the same quarter last year, the business posted ($2.32) EPS. As a group, equities research analysts forecast that Spirit Airlines will post -4.2 earnings per share for the current fiscal year.

About Spirit Airlines

Spirit Airlines, Inc is an airline that offers travel to price-conscious customers. Its customers start with an unbundled base fares that remove components included in the price of an airline ticket. The company was founded by Ned Homfeld in 1964 and is headquartered in Miramar, FL.

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Analyst Recommendations for Spirit Airlines (NYSE:SAVE)

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