Shares of Spirit Airlines Inc. (NASDAQ:SAVE) have received a consensus rating of “Buy” from the nineteen ratings firms that are currently covering the company. Four equities research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $59.18.

SAVE has been the subject of a number of research reports. Imperial Capital initiated coverage on Spirit Airlines in a report on Thursday, September 29th. They set an “outperform” rating and a $51.00 target price for the company. Deutsche Bank AG decreased their target price on Spirit Airlines from $56.00 to $52.00 and set a “buy” rating for the company in a report on Monday, August 1st. Credit Suisse Group AG set a $55.00 target price on Spirit Airlines and gave the stock a “buy” rating in a report on Tuesday, September 13th. Citigroup Inc. reaffirmed a “buy” rating and set a $56.00 target price on shares of Spirit Airlines in a report on Tuesday, July 19th. Finally, Zacks Investment Research downgraded Spirit Airlines from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 29th.

Several hedge funds have recently bought and sold shares of the stock. Independent Portfolio Consultants Inc. boosted its stake in Spirit Airlines by 5.2% in the third quarter. Independent Portfolio Consultants Inc. now owns 3,511 shares of the company’s stock worth $149,000 after buying an additional 175 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Spirit Airlines by 1,513.1% in the third quarter. BNP Paribas Arbitrage SA now owns 7,856 shares of the company’s stock valued at $334,000 after buying an additional 7,369 shares during the last quarter. Nomura Holdings Inc. boosted its stake in shares of Spirit Airlines by 43.6% in the second quarter. Nomura Holdings Inc. now owns 8,400 shares of the company’s stock valued at $376,000 after buying an additional 2,552 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Spirit Airlines by 9.3% in the second quarter. Royal Bank of Canada now owns 495,713 shares of the company’s stock valued at $22,242,000 after buying an additional 42,148 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Spirit Airlines by 6.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 212,518 shares of the company’s stock valued at $9,536,000 after buying an additional 13,729 shares during the last quarter. Institutional investors and hedge funds own 98.20% of the company’s stock.

Spirit Airlines (NASDAQ:SAVE) traded up 1.59% on Monday, reaching $42.91. The company’s stock had a trading volume of 200,076 shares. Spirit Airlines has a 12-month low of $32.73 and a 12-month high of $53.53. The firm has a 50-day moving average of $40.12 and a 200 day moving average of $43.22. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 10.01 and a beta of 1.18.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Friday, July 29th. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.03. The business earned $584.10 million during the quarter, compared to the consensus estimate of $594.47 million. Spirit Airlines had a return on equity of 25.93% and a net margin of 13.83%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.03 earnings per share. On average, equities research analysts anticipate that Spirit Airlines will post $3.91 EPS for the current fiscal year.

Spirit Airlines Company Profile

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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