Cowen and Company reiterated their market perform rating on shares of Spirit Airlines, Inc. (NASDAQ:SAVE) in a report published on Friday, MarketBeat Ratings reports. Cowen and Company currently has a $45.00 price target on the transportation company’s stock, down from their prior price target of $59.00.

SAVE has been the topic of a number of other reports. BidaskClub cut shares of Spirit Airlines from a hold rating to a sell rating in a report on Friday, June 23rd. Citigroup Inc. reaffirmed a neutral rating and issued a $60.00 target price (up from $58.00) on shares of Spirit Airlines in a report on Saturday, April 22nd. Imperial Capital upped their target price on shares of Spirit Airlines from $70.00 to $75.00 and gave the company an outperform rating in a report on Monday, May 1st. Deutsche Bank AG upped their target price on shares of Spirit Airlines from $44.00 to $46.00 and gave the company a buy rating in a report on Friday, April 14th. Finally, Morgan Stanley reaffirmed an equal weight rating and issued a $60.00 target price (down from $61.00) on shares of Spirit Airlines in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $55.27.

Shares of Spirit Airlines (SAVE) opened at 38.85 on Friday. The stock has a 50 day moving average price of $51.09 and a 200 day moving average price of $53.29. The firm has a market capitalization of $2.69 billion, a P/E ratio of 11.26 and a beta of 0.63. Spirit Airlines has a 12 month low of $37.17 and a 12 month high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.03. The company had revenue of $701.68 million for the quarter, compared to analysts’ expectations of $702.29 million. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. Spirit Airlines’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 EPS. On average, analysts expect that Spirit Airlines will post $4.16 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Spirit Airlines, Inc. (SAVE) Rating Reiterated by Cowen and Company” was posted by Watch List News and is the property of of Watch List News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark legislation. The original version of this news story can be accessed at https://www.watchlistnews.com/spirit-airlines-inc-save-rating-reiterated-by-cowen-and-company/1465208.html.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. James Investment Research Inc. purchased a new stake in Spirit Airlines during the first quarter worth about $137,000. Oppenheimer Asset Management Inc. purchased a new stake in Spirit Airlines during the first quarter worth about $346,000. Parkwood LLC increased its stake in Spirit Airlines by 24.9% in the first quarter. Parkwood LLC now owns 6,675 shares of the transportation company’s stock worth $354,000 after buying an additional 1,332 shares during the period. Karp Capital Management Corp purchased a new stake in Spirit Airlines during the first quarter worth about $368,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in Spirit Airlines during the first quarter worth about $371,000.

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)

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.