Spirit Airlines (NASDAQ:SAVE) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

SAVE has been the subject of a number of other reports. Zacks Investment Research lowered shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Buckingham Research set a $61.00 price target on shares of Spirit Airlines and gave the stock a “buy” rating in a research report on Thursday, August 30th. Macquarie increased their price target on shares of Spirit Airlines from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 28th. Cowen increased their price target on shares of Spirit Airlines from $39.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, July 27th. Finally, Imperial Capital increased their price target on shares of Spirit Airlines from $53.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $53.15.

SAVE stock opened at $46.45 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Spirit Airlines has a one year low of $32.99 and a one year high of $49.63.

Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Wednesday, July 25th. The transportation company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The company had revenue of $851.80 million during the quarter, compared to analyst estimates of $851.83 million. During the same period in the prior year, the firm earned $1.14 earnings per share. The business’s quarterly revenue was up 21.4% on a year-over-year basis. research analysts forecast that Spirit Airlines will post 3.08 EPS for the current fiscal year.

In related news, SVP Rocky Wiggins sold 566 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $47.89, for a total value of $27,105.74. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert D. Johnson sold 750 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $47.53, for a total value of $35,647.50. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SAVE. Strs Ohio acquired a new position in Spirit Airlines during the second quarter valued at approximately $105,000. Point72 Hong Kong Ltd grew its holdings in Spirit Airlines by 147.4% during the second quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock valued at $106,000 after purchasing an additional 1,730 shares during the last quarter. Sei Investments Co. grew its holdings in Spirit Airlines by 127.9% during the second quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock valued at $143,000 after purchasing an additional 2,208 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Spirit Airlines by 286.2% during the second quarter. BNP Paribas Arbitrage SA now owns 4,445 shares of the transportation company’s stock valued at $162,000 after purchasing an additional 3,294 shares during the last quarter. Finally, Resources Investment Advisors Inc. grew its holdings in Spirit Airlines by 50.0% during the first quarter. Resources Investment Advisors Inc. now owns 5,394 shares of the transportation company’s stock valued at $204,000 after purchasing an additional 1,797 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.

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Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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