Vetr upgraded shares of Spirit Airlines Inc. (NASDAQ:SAVE) from a buy rating to a strong-buy rating in a research note issued to investors on Monday morning. The brokerage currently has $48.00 target price on the stock.

A number of other equities research analysts have also issued reports on SAVE. Raymond James Financial Inc. raised Spirit Airlines from an outperform rating to a strong-buy rating and set a $59.00 price target for the company in a research note on Thursday, August 4th. Zacks Investment Research raised Spirit Airlines from a strong sell rating to a hold rating in a research note on Wednesday, August 17th. Citigroup Inc. decreased their price target on Spirit Airlines from $56.00 to $51.00 and set a buy rating for the company in a research note on Monday, August 8th. Credit Suisse Group AG raised Spirit Airlines from a neutral rating to an outperform rating and raised their price target for the stock from $44.00 to $55.00 in a research note on Monday, June 20th. Finally, Wolfe Research lowered Spirit Airlines from an outperform rating to a market perform rating in a research note on Tuesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $58.50.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

Spirit Airlines (NASDAQ:SAVE) traded up 0.30% during midday trading on Monday, hitting $43.01. The stock had a trading volume of 88,485 shares. Spirit Airlines has a 52-week low of $32.73 and a 52-week high of $53.53. The stock has a market cap of $3.01 billion, a PE ratio of 10.04 and a beta of 1.18. The company’s 50 day moving average price is $40.21 and its 200-day moving average price is $43.12.

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

A number of large investors have recently bought and sold shares of the company. RS Investment Management Co. LLC raised its stake 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 valued at $34,683,000 after buying an additional 82,317 shares during the period. Wellington Management Group LLP raised its stake 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 valued at $77,641,000 after buying an additional 1,381,250 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in Spirit Airlines during the second quarter valued at approximately $1,019,000. Artemis Investment Management LLP raised its stake in Spirit Airlines by 31.1% in the second quarter. Artemis Investment Management LLP now owns 623,790 shares of the company’s stock valued at $28,002,000 after buying an additional 148,133 shares during the period. Finally, Cortina Asset Management LLC raised its stake in Spirit Airlines by 17.4% in the second quarter. Cortina Asset Management LLC now owns 220,086 shares of the company’s stock valued at $9,875,000 after buying an additional 32,689 shares during the period. Institutional investors 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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