Spirit Airlines (NASDAQ:SAVE)‘s stock had its “outperform” rating reiterated by investment analysts at Imperial Capital in a research report issued on Thursday, The Fly reports. They presently have a $69.00 target price on the transportation company’s stock. Imperial Capital’s price target indicates a potential upside of 45.97% from the company’s current price.

Several other research analysts have also recently issued reports on SAVE. Zacks Investment Research raised Spirit Airlines from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday. BidaskClub cut Spirit Airlines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Buckingham Research raised their target price on Spirit Airlines from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 13th. Morgan Stanley raised their target price on Spirit Airlines from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, July 16th. Finally, Cowen raised their target price on Spirit Airlines from $39.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, July 27th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Spirit Airlines currently has a consensus rating of “Buy” and an average price target of $53.62.

Shares of NASDAQ:SAVE opened at $47.27 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Spirit Airlines has a 52-week low of $32.99 and a 52-week high of $49.63.

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

In other news, Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $47.53, for a total transaction of $35,647.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Rocky Wiggins sold 566 shares of Spirit Airlines stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $47.89, for a total value of $27,105.74. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Strs Ohio purchased a new position in shares of Spirit Airlines during the 2nd quarter valued at about $105,000. Point72 Hong Kong Ltd lifted its position in shares of Spirit Airlines by 147.4% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock valued at $106,000 after buying an additional 1,730 shares in the last quarter. Sei Investments Co. lifted its position in shares of Spirit Airlines by 127.9% during the 2nd quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock valued at $143,000 after buying an additional 2,208 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Spirit Airlines by 286.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,445 shares of the transportation company’s stock valued at $162,000 after buying an additional 3,294 shares in the last quarter. Finally, Resources Investment Advisors Inc. lifted its position in shares of Spirit Airlines by 50.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 5,394 shares of the transportation company’s stock valued at $204,000 after buying an additional 1,797 shares in the last quarter.

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.

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Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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