Spirit Airlines Inc. (NASDAQ:SAVE) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Monday. They currently have a $48.00 price objective on the stock. Vetr‘s target price points to a potential upside of 9.64% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Imperial Capital initiated coverage on shares of Spirit Airlines in a research report on Thursday, September 29th. They set an “outperform” rating and a $51.00 price objective on the stock. Deutsche Bank AG cut their price objective on shares of Spirit Airlines from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, August 1st. Credit Suisse Group AG set a $55.00 price objective on shares of Spirit Airlines and gave the company a “buy” rating in a research report on Tuesday, September 13th. Citigroup Inc. reaffirmed a “buy” rating and set a $56.00 price objective on shares of Spirit Airlines in a research report on Tuesday, July 19th. Finally, Zacks Investment Research lowered shares of Spirit Airlines from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 29th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $58.87.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

Shares of Spirit Airlines (NASDAQ:SAVE) opened at 43.78 on Monday. The company has a 50-day moving average of $40.56 and a 200 day moving average of $43.09. Spirit Airlines has a 12-month low of $32.73 and a 12-month high of $53.53. The firm has a market capitalization of $3.07 billion, a PE ratio of 10.22 and a beta of 1.18.

Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Friday, July 29th. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 13.83% and a return on equity of 25.93%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. On average, analysts predict that Spirit Airlines will post $3.91 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of SAVE. Aperio Group LLC boosted its position in shares of Spirit Airlines by 45.3% in the first quarter. Aperio Group LLC now owns 7,332 shares of the company’s stock valued at $352,000 after buying an additional 2,286 shares during the period. Teachers Advisors Inc. boosted its position in shares of Spirit Airlines by 5.0% in the first quarter. Teachers Advisors Inc. now owns 57,325 shares of the company’s stock valued at $2,750,000 after buying an additional 2,746 shares during the period. BlackRock Inc. boosted its position in shares of Spirit Airlines by 166.7% in the first quarter. BlackRock Inc. now owns 7,897 shares of the company’s stock valued at $379,000 after buying an additional 4,936 shares during the period. Menta Capital LLC purchased a new position in shares of Spirit Airlines during the first quarter valued at approximately $657,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of Spirit Airlines by 6.2% in the first quarter. Canada Pension Plan Investment Board now owns 24,000 shares of the company’s stock valued at $1,152,000 after buying an additional 1,400 shares during the period. 98.20% of the stock is owned by hedge funds and other institutional investors.

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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