Citigroup Inc. upgraded shares of Spirit Airlines, Inc. (NASDAQ:SAVE) from a neutral rating to a buy rating in a report published on Friday morning, MarketBeat.com reports. Citigroup Inc. currently has $52.00 price objective on the transportation company’s stock, down from their previous price objective of $65.00.

Several other analysts also recently commented on SAVE. Deutsche Bank AG upped their price objective 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. Cowen and Company upped their price objective on shares of Spirit Airlines from $58.00 to $62.00 and gave the company a market perform rating in a report on Tuesday, April 18th. Imperial Capital reaffirmed an outperform rating and issued a $70.00 price objective (up from $68.00) on shares of Spirit Airlines in a report on Thursday, April 20th. Stifel Nicolaus reaffirmed a buy rating and issued a $75.00 price objective on shares of Spirit Airlines in a report on Saturday, April 22nd. Finally, Wolfe Research raised shares of Spirit Airlines from a market perform rating to an outperform rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Spirit Airlines presently has a consensus rating of Buy and a consensus target price of $55.27.

Spirit Airlines (NASDAQ:SAVE) opened at 38.85 on Friday. The stock has a market cap of $2.69 billion, a PE ratio of 11.26 and a beta of 0.63. Spirit Airlines has a 52 week low of $37.17 and a 52 week high of $60.40. The stock’s 50 day moving average is $51.09 and its 200 day moving average is $53.29.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.11 by $0.03. The business had revenue of $701.68 million for the quarter, compared to the consensus estimate of $702.29 million. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.11 EPS. Analysts predict that Spirit Airlines will post $4.16 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.watchlistnews.com/spirit-airlines-inc-save-upgraded-to-buy-by-citigroup-inc/1465558.html.

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

Several large investors have recently modified their holdings of SAVE. Bank of Montreal Can boosted its stake in shares of Spirit Airlines by 253.8% in the first quarter. Bank of Montreal Can now owns 71,428 shares of the transportation company’s stock worth $3,791,000 after buying an additional 51,238 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of Spirit Airlines during the fourth quarter worth approximately $4,114,000. Public Employees Retirement System of Ohio boosted its stake 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 period. Pacer Advisors Inc. boosted its stake in shares of Spirit Airlines by 22.3% in the first quarter. Pacer Advisors Inc. now owns 8,233 shares of the transportation company’s stock worth $437,000 after buying an additional 1,500 shares during the period. Finally, Rockshelter Capital Management LLC boosted its stake in shares of Spirit Airlines by 0.3% in the first quarter. Rockshelter Capital Management LLC now owns 248,493 shares of the transportation company’s stock worth $13,188,000 after buying an additional 625 shares during the period.

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.