Spirit Airlines (SAVE) Upgraded at Credit Suisse Group
Spirit Airlines (NASDAQ:SAVE) was upgraded by Credit Suisse Group from a “neutral” rating to an “outperform” rating in a report issued on Thursday, The Fly reports.
Several other equities research analysts have also recently weighed in on SAVE. BidaskClub upgraded shares of Spirit Airlines from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Macquarie boosted their price objective on shares of Spirit Airlines from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, August 28th. Buckingham Research set a $61.00 price objective on shares of Spirit Airlines and gave the company a “buy” rating in a research report on Thursday, August 30th. Zacks Investment Research upgraded shares of Spirit Airlines from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Tuesday, September 11th. Finally, Imperial Capital reiterated an “outperform” rating and set a $69.00 price objective (up previously from $61.00) on shares of Spirit Airlines in a research report on Thursday, September 27th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $60.13.
Shares of SAVE opened at $63.13 on Thursday. Spirit Airlines has a fifty-two week low of $34.36 and a fifty-two week high of $65.35.
In other Spirit Airlines news, Director Robert D. Johnson sold 750 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $64.65, for a total transaction of $48,487.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Rocky Wiggins sold 4,500 shares of the business’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $50.56, for a total transaction of $227,520.00. The disclosure for this sale can be found here. Insiders have sold 5,816 shares of company stock worth $303,113 in the last quarter. Company insiders own 0.33% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Delek Group Ltd. lifted its stake in Spirit Airlines by 59.7% in the second quarter. Delek Group Ltd. now owns 374,500 shares of the transportation company’s stock worth $13,613,000 after acquiring an additional 140,000 shares during the period. Voya Investment Management LLC lifted its stake in Spirit Airlines by 42.9% in the second quarter. Voya Investment Management LLC now owns 25,765 shares of the transportation company’s stock worth $937,000 after acquiring an additional 7,732 shares during the period. Fox Run Management L.L.C. purchased a new stake in Spirit Airlines in the third quarter worth about $540,000. Strs Ohio purchased a new stake in Spirit Airlines in the second quarter worth about $105,000. Finally, Chou Associates Management Inc. purchased a new stake in Spirit Airlines in the second quarter worth about $1,818,000.
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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