Spirit Airlines Inc. (NASDAQ:SAVE) – Imperial Capital issued their FY2016 earnings estimates for shares of Spirit Airlines in a research report issued to clients and investors on Thursday. Imperial Capital analyst M. Derchin forecasts that the firm will earn $3.89 per share for the year. Imperial Capital has a “Outperform” rating and a $51.00 price objective on the stock.

SAVE has been the subject of a number of other research reports. Citigroup Inc. cut their target price on shares of Spirit Airlines from $56.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, August 8th. Credit Suisse Group AG reiterated an “outperform” rating on shares of Spirit Airlines in a research report on Wednesday, July 6th. Wolfe Research downgraded shares of Spirit Airlines from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd. Vetr downgraded shares of Spirit Airlines from a “strong-buy” rating to a “buy” rating and set a $48.00 target price for the company. in a research report on Monday. Finally, Zacks Investment Research upgraded shares of Spirit Airlines from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $58.50.

Earnings History and Estimates for Spirit Airlines (NASDAQ:SAVE)

Spirit Airlines (NASDAQ:SAVE) opened at 43.74 on Monday. Spirit Airlines has a one year low of $32.73 and a one year high of $53.53. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 10.21 and a beta of 1.18. The firm has a 50-day moving average of $39.78 and a 200-day moving average of $43.31.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Friday, July 29th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. Spirit Airlines had a net margin of 13.83% and a return on equity of 25.93%. The firm had revenue of $584.10 million for the quarter, compared to analyst estimates of $594.47 million. During the same quarter in the previous year, the business posted $1.03 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently bought and sold shares of SAVE. RS Investment Management Co. LLC raised its position in Spirit Airlines by 11.9% in the second quarter. RS Investment Management Co. LLC now owns 772,956 shares of the company’s stock worth $34,683,000 after buying an additional 82,317 shares during the last quarter. Wellington Management Group LLP raised its position in Spirit Airlines by 583.0% in the first quarter. Wellington Management Group LLP now owns 1,618,183 shares of the company’s stock worth $77,641,000 after buying an additional 1,381,250 shares during the last quarter. Artemis Investment Management LLP raised its position in Spirit Airlines by 31.1% in the second quarter. Artemis Investment Management LLP now owns 623,790 shares of the company’s stock worth $28,002,000 after buying an additional 148,133 shares during the last quarter. Cortina Asset Management LLC raised its position in Spirit Airlines by 17.4% in the second quarter. Cortina Asset Management LLC now owns 220,086 shares of the company’s stock worth $9,875,000 after buying an additional 32,689 shares during the last quarter. Finally, Aperio Group LLC raised its position in Spirit Airlines by 45.3% in the first quarter. Aperio Group LLC now owns 7,332 shares of the company’s stock worth $352,000 after buying an additional 2,286 shares during the last quarter. Institutional investors and hedge funds own 98.20% of the company’s stock.

About Spirit Airlines

Spirit Airlines, Inc is an airline company. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket.

5 Day Chart for NASDAQ:SAVE

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