Spirit Airlines, Inc. (NYSE: SAVE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Spirit Airlines, Inc. (NYSE: SAVE – Get Rating) have been given a consensus rating of “Moderate Buy” by the thirteen research firms that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $ 29.92.

A number of analysts recently commented on the company. JPMorgan Chase & Co. upgraded Spirit Airlines from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $ 24.00 to $ 30.00 in a research report on Friday, June 10th. Susquehanna lifted their price objective on Spirit Airlines from $ 22.00 to $ 27.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on Spirit Airlines from $ 38.00 to $ 27.00 in a research report on Thursday, May 5th. Susquehanna Bancshares boosted their target price on Spirit Airlines from $ 22.00 to $ 27.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 12th. Finally, Evercore ISI boosted their target price on Spirit Airlines from $ 25.00 to $ 28.00 and gave the stock an “in-line” rating in a research report on Monday, June 27th.

Spirit Airlines Stock Performance

Spirit Airlines stock opened at $ 24.30 on Thursday. The stock has a 50-day simple moving average of $ 22.50 and a 200 day simple moving average of $ 22.74. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 1.41. Spirit Airlines has a 12-month low of $ 15.92 and a 12-month high of $ 28.97. The stock has a market capitalization of $ 2.64 billion, a price-to-earnings ratio of -5.35 and a beta of 1.41.

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Spirit Airlines (NYSE: SAVE – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($ 1.60) EPS for the quarter, missing analysts’ consensus estimates of ($ 1.54) by ($ 0.06). The firm had revenue of $ 967.30 million during the quarter, compared to analyst estimates of $ 958.36 million. Spirit Airlines had a negative return on equity of 19.70% and a negative net margin of 14.63%. Spirit Airlines’s revenue for the quarter was up 109.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($ 2.48) earnings per share. On average, research analysts anticipate that Spirit Airlines will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spirit Airlines

Institutional investors and hedge funds have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Spirit Airlines in the 4th quarter valued at approximately $ 31,000. Byrne Asset Management LLC bought a new stake in Spirit Airlines in the 1st quarter valued at approximately $ 34,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Spirit Airlines in the 2nd quarter valued at approximately $ 52,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Spirit Airlines by 58.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,197 shares of the company’s stock valued at $ 48,000 after acquiring an additional 809 shares in the last quarter. Finally, Ellevest Inc. lifted its stake in Spirit Airlines by 582.2% in the 2nd quarter. Ellevest Inc. now owns 2,524 shares of the company’s stock valued at $ 60,000 after acquiring an additional 2,154 shares in the last quarter. 62.67% of the stock is currently owned by institutional investors and hedge funds.

Spirit Airlines Company Profile

(Get Rating)

Spirit Airlines, Inc provides airline services. It serves 85 destinations in 16 countries in the United States, Latin America, and the Caribbean. As of December 31, 2021, the company had a fleet of 173 Airbus single-aisle aircraft. It sells 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.

See Also

Analyst Recommendations for Spirit Airlines (NYSE: SAVE)

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