Spirit Airlines Inc. (NASDAQ:SAVE) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $51.50 price target on the stock. Vetr‘s price target would indicate a potential upside of 13.94% from the stock’s previous close.

SAVE has been the topic of several other research reports. Deutsche Bank AG dropped their price objective on Spirit Airlines from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, August 1st. Citigroup Inc. reaffirmed a “buy” rating and set a $56.00 price objective on shares of Spirit Airlines in a report on Tuesday, July 19th. Credit Suisse Group AG set a $55.00 price objective on Spirit Airlines and gave the stock a “buy” rating in a report on Tuesday, September 13th. Zacks Investment Research raised Spirit Airlines from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 17th. Finally, Wolfe Research lowered Spirit Airlines from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Spirit Airlines currently has a consensus rating of “Buy” and a consensus price target of $59.10.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

Spirit Airlines (NASDAQ:SAVE) traded up 3.15% during trading on Tuesday, reaching $45.20. The company had a trading volume of 3,058,087 shares. Spirit Airlines has a 1-year low of $32.73 and a 1-year high of $53.53. The firm has a 50-day moving average of $40.85 and a 200-day moving average of $42.97. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 10.55 and a beta of 1.18.

Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Friday, July 29th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.08 by $0.03. The firm had revenue of $584.10 million for 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%. Spirit Airlines’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. On average, analysts anticipate that Spirit Airlines will post $3.91 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. RS Investment Management Co. LLC increased 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 worth $34,683,000 after buying an additional 82,317 shares during the last quarter. Wellington Management Group LLP increased 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 worth $77,641,000 after buying an additional 1,381,250 shares during the last quarter. Virginia Retirement Systems ET AL bought a new stake in Spirit Airlines during the second quarter worth about $1,019,000. Artemis Investment Management LLP increased 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 worth $28,002,000 after buying an additional 148,133 shares during the last quarter. Finally, Cortina Asset Management LLC increased 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 worth $9,875,000 after buying an additional 32,689 shares during the last quarter. Institutional investors own 98.15% 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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