Spirit Airlines Inc. (NASDAQ:SAVE) was downgraded by Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued on Friday. They currently have a $61.00 target price on the stock, up from their previous target price of $52.00. Citigroup Inc.’s price target points to a potential upside of 15.31% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Vetr upgraded Spirit Airlines from a “buy” rating to a “strong-buy” rating and set a $51.50 price target on the stock in a report on Tuesday, October 18th. Imperial Capital assumed coverage on Spirit Airlines in a report on Thursday, September 29th. They set an “outperform” rating and a $51.00 target price on the stock. Deutsche Bank AG reduced their target price on Spirit Airlines from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, August 1st. Raymond James Financial Inc. upgraded Spirit Airlines from an “outperform” rating to a “strong-buy” rating and set a $59.00 target price on the stock in a report on Thursday, August 4th. Finally, Zacks Investment Research upgraded Spirit Airlines from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 17th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $56.81.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

Spirit Airlines (NASDAQ:SAVE) opened at 52.90 on Friday. Spirit Airlines has a one year low of $34.99 and a one year high of $55.10. The stock has a 50 day moving average price of $47.42 and a 200-day moving average price of $43.39. The firm has a market cap of $3.67 billion, a P/E ratio of 12.94 and a beta of 0.76.

Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the 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 firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.35 earnings per share. Analysts predict that Spirit Airlines will post $4.02 EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. RS Investment Management Co. LLC increased its position 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 in the last quarter. Virginia Retirement Systems ET AL bought a new position in Spirit Airlines during the second quarter worth $1,019,000. Artemis Investment Management LLP increased its position 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 in the last quarter. Cortina Asset Management LLC increased its position in shares of 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 in the last quarter. Finally, BlackRock Advisors LLC increased its position in shares of Spirit Airlines by 8.4% in the second quarter. BlackRock Advisors LLC now owns 217,765 shares of the company’s stock valued at $9,771,000 after buying an additional 16,819 shares in the last quarter. Hedge funds and other institutional investors own 98.12% 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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