Shares of Spirit Airlines Inc. (NASDAQ:SAVE) have been assigned an average rating of “Buy” from the seventeen ratings firms that are presently covering the company. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $56.28.

Several analysts have weighed in on SAVE shares. Vetr cut Spirit Airlines from a “strong-buy” rating to a “buy” rating and set a $48.00 price objective on the stock. in a research report on Monday, October 17th. Deutsche Bank AG boosted their price target on Spirit Airlines from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 26th. Citigroup Inc. dropped their price target on Spirit Airlines from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, August 8th. Credit Suisse Group AG set a $55.00 price target on Spirit Airlines and gave the stock a “buy” rating in a research report on Tuesday, September 13th. Finally, Zacks Investment Research raised Spirit Airlines from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 17th.

Shares of Spirit Airlines (NASDAQ:SAVE) opened at 53.74 on Monday. The stock has a market capitalization of $3.73 billion, a P/E ratio of 13.14 and a beta of 0.76. Spirit Airlines has a 52-week low of $34.63 and a 52-week high of $55.10. The firm has a 50-day moving average price of $46.94 and a 200-day moving average price of $43.22.

Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.07. The business had revenue of $621.30 million for the quarter, compared to analysts’ expectations of $611.52 million. Spirit Airlines had a return on equity of 24.09% and a net margin of 12.85%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.35 EPS. On average, analysts predict that Spirit Airlines will post $4.02 EPS for the current year.

In other Spirit Airlines news, VP Robert Schroeter sold 3,500 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $53.76, for a total transaction of $188,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott Haralson sold 2,951 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $51.32, for a total transaction of $151,445.32. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc raised its stake in shares of Spirit Airlines by 9.5% in the second quarter. Legal & General Group Plc now owns 2,468 shares of the company’s stock worth $111,000 after buying an additional 215 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Spirit Airlines by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 2,515 shares of the company’s stock worth $113,000 after buying an additional 302 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Spirit Airlines by 38.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,065 shares of the company’s stock worth $138,000 after buying an additional 853 shares in the last quarter. Independent Portfolio Consultants Inc. raised its stake in shares of 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 in the last quarter. Finally, Huntington National Bank raised its stake in shares of Spirit Airlines by 855.3% in the second quarter. Huntington National Bank now owns 4,041 shares of the company’s stock worth $182,000 after buying an additional 3,618 shares in the last quarter. Institutional investors and hedge funds own 97.77% of the company’s stock.

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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