Spirit Airlines Incorporated (SAVE) Receives $48.25 Consensus Price Target from Brokerages

Spirit Airlines Incorporated (NASDAQ:SAVE) has been assigned an average rating of “Hold” from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $48.25.

Several analysts have recently issued reports on SAVE shares. Imperial Capital upped their target price on shares of Spirit Airlines from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Tuesday, March 13th. Buckingham Research upped their target price on shares of Spirit Airlines from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, March 2nd. Morgan Stanley decreased their target price on shares of Spirit Airlines from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Macquarie upgraded shares of Spirit Airlines from a “neutral” rating to an “outperform” rating and set a $33.00 target price on the stock in a research report on Wednesday, February 7th. Finally, Cowen decreased their target price on shares of Spirit Airlines from $49.00 to $45.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 7th.

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In related news, COO John A. Bendoraitis sold 1,690 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $44.63, for a total value of $75,424.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its position in Spirit Airlines by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after purchasing an additional 141 shares during the period. State of Alaska Department of Revenue purchased a new stake in Spirit Airlines in the 4th quarter worth about $183,000. LPL Financial LLC purchased a new stake in Spirit Airlines in the 4th quarter worth about $209,000. Advisor Group Inc. raised its position in Spirit Airlines by 196.5% in the 4th quarter. Advisor Group Inc. now owns 4,720 shares of the transportation company’s stock worth $211,000 after purchasing an additional 3,128 shares during the period. Finally, Bluestein R H & Co. purchased a new stake in Spirit Airlines in the 4th quarter worth about $224,000.

Shares of SAVE stock opened at $37.74 on Wednesday. Spirit Airlines has a 52 week low of $30.32 and a 52 week high of $60.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Tuesday, February 6th. The transportation company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $666.12 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. analysts predict that Spirit Airlines will post 3.08 earnings per share for the current year.

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About Spirit Airlines

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.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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