Morgan Stanley reaffirmed their equal weight rating on shares of Spirit Airlines, Inc. (NASDAQ:SAVE) in a research report report published on Tuesday morning. The brokerage currently has a $56.00 target price on the transportation company’s stock, down from their previous target price of $60.00.

A number of other brokerages have also issued reports on SAVE. Stifel Nicolaus reiterated a buy rating and issued a $75.00 price target on shares of Spirit Airlines in a report on Saturday, April 22nd. Citigroup Inc. reiterated a neutral rating and issued a $60.00 price target (up previously from $58.00) on shares of Spirit Airlines in a report on Saturday, April 22nd. Imperial Capital reiterated an outperform rating and issued a $70.00 price target (up previously from $68.00) on shares of Spirit Airlines in a report on Thursday, April 20th. Wolfe Research upgraded Spirit Airlines from a market perform rating to an outperform rating in a report on Friday, June 2nd. Finally, Cowen and Company boosted their price target on Spirit Airlines from $58.00 to $62.00 and gave the company a market perform rating in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $59.79.

Shares of Spirit Airlines (NASDAQ SAVE) traded down 0.90% on Tuesday, hitting $39.71. The stock had a trading volume of 3,526,679 shares. Spirit Airlines has a 52-week low of $37.17 and a 52-week high of $60.40. The company has a market cap of $2.75 billion, a P/E ratio of 11.51 and a beta of 0.63. The company has a 50-day moving average of $51.55 and a 200-day moving average of $53.47.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.03. The firm had revenue of $701.68 million during the quarter, compared to analyst estimates of $702.29 million. Spirit Airlines had a return on equity of 18.34% and a net margin of 9.62%. Spirit Airlines’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. On average, equities analysts anticipate that Spirit Airlines will post $4.16 EPS for the current fiscal year.

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In other news, VP Edmundo Miranda sold 3,131 shares of the company’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $59.39, for a total transaction of $185,950.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Several institutional investors have recently modified their holdings of SAVE. Middleton & Co Inc MA increased its position in shares of Spirit Airlines by 0.3% in the first quarter. Middleton & Co Inc MA now owns 17,275 shares of the transportation company’s stock worth $917,000 after buying an additional 45 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Spirit Airlines by 2.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,731 shares of the transportation company’s stock worth $216,000 after buying an additional 92 shares during the last quarter. Camarda Financial Advisors LLC increased its position in shares of Spirit Airlines by 0.3% in 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 during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Spirit Airlines by 0.3% in 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 during the last quarter. Finally, Aperio Group LLC increased its position in shares of Spirit Airlines by 4.6% in 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 during the last quarter.

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)

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