Spirit Airlines, Inc. (NASDAQ:SAVE) was downgraded by Deutsche Bank AG from a “buy” rating to a “hold” rating in a research note issued to investors on Friday. They currently have a $38.00 target price on the transportation company’s stock. Deutsche Bank AG’s price objective would suggest a potential upside of 7.83% from the company’s previous close.

Several other analysts have also recently commented on the stock. ValuEngine cut shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Cowen and Company reiterated a “hold” rating and issued a $45.00 price objective on shares of Spirit Airlines in a research note on Friday, September 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $45.00 price objective (down previously from $46.00) on shares of Spirit Airlines in a research note on Friday, September 1st. BidaskClub cut shares of Spirit Airlines from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Finally, Bank of America Corporation reduced their price objective on shares of Spirit Airlines from $75.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $47.77.

Shares of Spirit Airlines (NASDAQ:SAVE) opened at 35.24 on Friday. Spirit Airlines has a 1-year low of $30.32 and a 1-year high of $60.40. The stock’s 50 day moving average is $34.31 and its 200-day moving average is $47.18. The stock has a market cap of $2.44 billion, a PE ratio of 10.21 and a beta of 0.66.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The firm had revenue of $701.68 million during the quarter, compared to analysts’ expectations of $702.29 million. During the same quarter last year, the business earned $1.11 earnings per share. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, analysts predict that Spirit Airlines will post $2.98 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.watchlistnews.com/deutsche-bank-ag-downgrades-spirit-airlines-inc-save-to-hold/1617222.html.

In other Spirit Airlines news, Director H. Mcintyre Gardner bought 5,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was purchased at an average cost of $33.78 per share, for a total transaction of $168,900.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.33% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Camarda Financial Advisors LLC grew its holdings in shares of Spirit Airlines by 0.3% during the second quarter. Camarda Financial Advisors LLC now owns 32,224 shares of the transportation company’s stock worth $1,664,000 after buying an additional 101 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Spirit Airlines by 7.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after buying an additional 141 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Spirit Airlines by 0.3% during the first quarter. Public Employees Retirement System of Ohio now owns 96,711 shares of the transportation company’s stock worth $5,132,000 after buying an additional 246 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Spirit Airlines by 4.6% during the second quarter. Aperio Group LLC now owns 7,260 shares of the transportation company’s stock worth $375,000 after buying an additional 322 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Spirit Airlines by 3.4% during the first quarter. Amalgamated Bank now owns 10,252 shares of the transportation company’s stock worth $544,000 after buying an additional 333 shares in the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

Spirit Airlines Company Profile

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)

Receive News & Ratings for Spirit Airlines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.