Shares of Spirit Airlines, Inc. (NYSE:SAVE) have earned a consensus recommendation of “Hold” from the seventeen research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $35.83.
Several equities analysts recently weighed in on the stock. Susquehanna Bancshares raised shares of Spirit Airlines from a “neutral” rating to a “positive” rating and set a $50.00 target price for the company in a research note on Tuesday. Citigroup raised their target price on shares of Spirit Airlines from $26.50 to $35.00 in a research note on Monday, February 8th. Deutsche Bank Aktiengesellschaft raised shares of Spirit Airlines from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Monday, March 1st. The Goldman Sachs Group lifted their price objective on shares of Spirit Airlines from $17.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 16th. Finally, Credit Suisse Group lifted their price objective on shares of Spirit Airlines from $13.00 to $16.00 and gave the stock an “underperform” rating in a research note on Thursday, February 11th.
SAVE traded up $0.24 during trading on Friday, hitting $37.28. 3,876,041 shares of the company traded hands, compared to its average volume of 4,924,605. The company has a market cap of $3.65 billion, a PE ratio of -17.67 and a beta of 1.59. The stock’s 50-day simple moving average is $37.09 and its two-hundred day simple moving average is $28.42. Spirit Airlines has a 1 year low of $7.25 and a 1 year high of $40.77. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 1.28.
Spirit Airlines (NYSE:SAVE) last posted its earnings results on Tuesday, February 9th. The company reported ($1.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.44) by ($0.17). The company had revenue of $498.50 million for the quarter, compared to analysts’ expectations of $511.25 million. Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 20.56%. The business’s revenue was down 48.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.24 earnings per share. Equities analysts expect that Spirit Airlines will post -8.28 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Spirit Airlines by 17.6% in the 4th quarter. BlackRock Inc. now owns 7,348,387 shares of the company’s stock worth $179,668,000 after acquiring an additional 1,099,852 shares during the last quarter. U S Global Investors Inc. bought a new stake in shares of Spirit Airlines in the 4th quarter worth about $112,504,000. State Street Corp lifted its holdings in shares of Spirit Airlines by 11.4% in the 3rd quarter. State Street Corp now owns 1,972,206 shares of the company’s stock worth $31,753,000 after acquiring an additional 202,408 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Spirit Airlines by 10.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 783,582 shares of the company’s stock worth $19,159,000 after acquiring an additional 76,603 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Spirit Airlines in the 4th quarter worth about $19,122,000. Hedge funds and other institutional investors own 52.20% of the company’s stock.
Spirit Airlines Company Profile
Spirit Airlines, Inc provides airline services. It serves 78 destinations in 16 countries in the United States, Latin America, and the Caribbean. As of December 31, 2020, the company had a fleet of 157 Airbus single-aisle aircraft comprising 31 A319ceos, 64 A320ceos, 32 A320neos, and 30 A321ceos. It offers tickets through its call centers and airport ticket counters, as well as online through spirit.com; and through various third parties, including online, traditional travel agents, and electronic global distribution systems.
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