Spirit Airlines, Inc. (SAVE) Rating Reiterated by Stifel Nicolaus
Spirit Airlines, Inc. (NASDAQ:SAVE)‘s stock had its “buy” rating restated by stock analysts at Stifel Nicolaus in a report released on Thursday. They currently have a $55.00 price objective on the transportation company’s stock. Stifel Nicolaus’ price target points to a potential upside of 64.62% from the company’s current price.
A number of other equities research analysts have also recently commented on the stock. Macquarie assumed coverage on shares of Spirit Airlines in a report on Monday, September 25th. They issued a “neutral” rating and a $33.00 price target on the stock. J P Morgan Chase & Co cut shares of Spirit Airlines from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $45.00 to $37.00 in a report on Friday, September 15th. Deutsche Bank AG lowered their price target on shares of Spirit Airlines from $54.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, September 6th. ValuEngine cut shares of Spirit Airlines from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price target (down previously from $46.00) on shares of Spirit Airlines in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $49.13.
Spirit Airlines (NASDAQ SAVE) opened at 33.41 on Thursday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 9.68 and a beta of 0.62. The stock’s 50 day moving average price is $35.93 and its 200-day moving average price is $48.73. Spirit Airlines has a 52 week low of $30.32 and a 52 week high of $60.40.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates 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 revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.11 EPS. On average, equities research analysts forecast that Spirit Airlines will post $3.02 earnings per share for the current fiscal year.
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In other news, Director H. Mcintyre Gardner purchased 5,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were purchased at an average price of $33.78 per share, with a total value of $168,900.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SAVE. The Manufacturers Life Insurance Company increased its holdings in shares of Spirit Airlines by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after purchasing an additional 141 shares during the period. Advisor Group Inc. increased its holdings in shares of Spirit Airlines by 18.8% in the second quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock worth $113,000 after purchasing an additional 344 shares during the period. Intact Investment Management Inc. bought a new position in shares of Spirit Airlines in the second quarter worth $238,000. Ramsey Quantitative Systems bought a new position in shares of Spirit Airlines in the second quarter worth $281,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Spirit Airlines in the first quarter worth $346,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.
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.
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