Spirit Airlines (NYSE:SAVE) PT Lowered to $38.00

Spirit Airlines (NYSE:SAVE) had its target price decreased by Barclays from $46.00 to $38.00 in a research note released on Friday morning, The Fly reports. Barclays currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Susquehanna Bancshares downgraded shares of Spirit Airlines from a positive rating to a neutral rating and cut their price objective for the stock from $31.00 to $25.00 in a research report on Thursday. Seaport Research Partners upgraded shares of Spirit Airlines from a neutral rating to a buy rating and set a $33.00 price objective for the company in a research report on Monday, December 13th. Citigroup cut their price objective on shares of Spirit Airlines from $36.00 to $35.00 and set a buy rating for the company in a research report on Wednesday, September 22nd. MKM Partners downgraded shares of Spirit Airlines from a buy rating to a neutral rating and set a $25.00 price objective for the company. in a research report on Monday, January 3rd. Finally, Susquehanna cut shares of Spirit Airlines from a positive rating to a neutral rating and lowered their price target for the stock from $31.00 to $25.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $30.82.

Shares of SAVE stock opened at $23.29 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.35. The firm’s 50-day moving average is $22.64 and its two-hundred day moving average is $24.70. Spirit Airlines has a 12 month low of $19.52 and a 12 month high of $40.77.

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

A number of large investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in shares of Spirit Airlines during the second quarter worth approximately $1,460,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Spirit Airlines by 12.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 365,179 shares of the company’s stock worth $11,116,000 after buying an additional 39,724 shares in the last quarter. Golden State Equity Partners acquired a new stake in shares of Spirit Airlines during the second quarter worth approximately $697,000. Penserra Capital Management LLC acquired a new position in Spirit Airlines in the second quarter worth $53,000. Finally, Deltec Asset Management LLC boosted its holdings in Spirit Airlines by 140.0% in the third quarter. Deltec Asset Management LLC now owns 24,000 shares of the company’s stock worth $623,000 after purchasing an additional 14,000 shares during the period. 63.87% of the stock is owned by institutional investors.

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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