A number of firms have modified their ratings and price targets on shares of Spirit Airlines (NASDAQ: SAVE) recently:

  • 8/7/2017 – Spirit Airlines was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 8/7/2017 – Spirit Airlines was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Spirit Airlines reported better than expected earnings in the second quarter of 2017. Moreover, earnings improved 2.7% year over year. Revenues improved 20.1% during the quarter. The carrier's efforts to modernize its fleet raise optimism. During the second quarter, the carrier took delivery of three new A320ceo aircraft and one new A321ceo aircraft. The company’s efforts to reward stockholders through share buybacks are also impressive. However, the carrier reported lower than expected revenues during second-quarter 2017. Due to the pilot related dispute the carrier had to cancel multiple flights resulting in customer dissatisfaction. The costs associated with the flight cancellations hurt its second quarter results.  Moreover, the company issued a lackluster unit revenue guidance for the third quarter. Owing to the headwinds, shares of the company have underperformed its industry over the last one month.”
  • 8/1/2017 – Spirit Airlines was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Spirit Airlines have underperformed its industry over the last  month mainly due to the dispute with its pilots. As a result the carrier had to cancel multiple flights resulting in customer dissatisfaction. The costs associated with the flight cancellations hurt its second quarter results.  Cost per available seat mile, excluding special items and fuel increased 10% in the quarter. Moreover, the company issued a lackluster unit revenue guidance for the third quarter due to intense competition and pricing pressures. We are, however, positive on the carrier’s constant efforts to expand its operations and modernize its fleet. The company’s initiatives to reward stockholders through share buybacks also raise optimism in the stock.”
  • 8/1/2017 – Spirit Airlines was upgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating. They now have a $45.00 price target on the stock, down previously from $56.00.
  • 7/30/2017 – Spirit Airlines had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $54.00 price target on the stock, down previously from $69.00.
  • 7/30/2017 – Spirit Airlines had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $55.00 price target on the stock, down previously from $75.00.
  • 7/28/2017 – Spirit Airlines was downgraded by analysts at Bank of America Corporation from a “buy” rating to a “neutral” rating. They now have a $44.00 price target on the stock, down previously from $68.00.
  • 7/28/2017 – Spirit Airlines had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $45.00 price target on the stock, down previously from $59.00.
  • 7/28/2017 – Spirit Airlines was downgraded by analysts at Buckingham Research from a “buy” rating to a “neutral” rating.
  • 7/28/2017 – Spirit Airlines was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $52.00 price target on the stock, down previously from $65.00.
  • 7/25/2017 – Spirit Airlines was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/25/2017 – Spirit Airlines had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $56.00 price target on the stock, down previously from $60.00.
  • 7/18/2017 – Spirit Airlines had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $59.00 price target on the stock.
  • 7/13/2017 – Spirit Airlines had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $60.00 price target on the stock, down previously from $61.00.
  • 7/12/2017 – Spirit Airlines had its price target lowered by analysts at Deutsche Bank AG from $71.00 to $69.00. They now have a “buy” rating on the stock.
  • 6/30/2017 – Spirit Airlines had its price target lowered by analysts at Bank of America Corporation from $75.00 to $68.00. They now have a “buy” rating on the stock.
  • 6/23/2017 – Spirit Airlines was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Shares of Spirit Airlines, Inc. (SAVE) opened at 38.00 on Thursday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 11.01 and a beta of 0.57. The firm’s 50 day moving average is $48.22 and its 200 day moving average is $52.48. Spirit Airlines, Inc. has a 52-week low of $37.17 and a 52-week high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.03. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The company had revenue of $701.68 million during the quarter, compared to analysts’ expectations of $702.29 million. During the same quarter in the previous year, the business earned $1.11 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Equities analysts expect that Spirit Airlines, Inc. will post $3.61 earnings per share for the current year.

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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