Spirit Airlines Inc. (NASDAQ:SAVE) had its price target increased by equities research analysts at Imperial Capital from $58.00 to $68.00 in a research note issued on Tuesday. The firm currently has an “outperform” rating on the stock. Imperial Capital’s price objective suggests a potential upside of 28.54% from the company’s previous close.

Several other equities research analysts have also recently weighed in on SAVE. Deutsche Bank AG decreased their target price on Spirit Airlines from $56.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Wolfe Research cut Spirit Airlines from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 2nd. Raymond James Financial Inc. upgraded Spirit Airlines from an “outperform” rating to a “strong-buy” rating and set a $59.00 target price for the company in a research note on Thursday, August 4th. Citigroup Inc. decreased their target price 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. Finally, Zacks Investment Research upgraded Spirit Airlines from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $57.58.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

Shares of Spirit Airlines (NASDAQ:SAVE) opened at 52.90 on Tuesday. Spirit Airlines has a 52 week low of $34.99 and a 52 week high of $55.10. The stock’s 50 day moving average is $47.42 and its 200-day moving average is $43.39. The firm has a market cap of $3.67 billion, a PE ratio of 12.94 and a beta of 0.76.

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

In related news, VP Scott Haralson sold 2,951 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $51.32, for a total transaction of $151,445.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert Schroeter sold 3,500 shares of the company’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $53.76, for a total value of $188,160.00. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Middleton & Co Inc MA raised its position in shares of Spirit Airlines by 0.3% in the third quarter. Middleton & Co Inc MA now owns 17,360 shares of the company’s stock worth $738,000 after buying an additional 45 shares in the last quarter. Stanley Laman Group Ltd. raised its stake in Spirit Airlines by 0.3% in the third quarter. Stanley Laman Group Ltd. now owns 20,344 shares of the company’s stock valued at $865,000 after buying an additional 61 shares during the period. Independent Portfolio Consultants Inc. raised its stake in Spirit Airlines by 5.2% in the third quarter. Independent Portfolio Consultants Inc. now owns 3,511 shares of the company’s stock valued at $149,000 after buying an additional 175 shares during the period. Legal & General Group Plc raised its stake in Spirit Airlines by 9.5% in the second quarter. Legal & General Group Plc now owns 2,468 shares of the company’s stock valued at $111,000 after buying an additional 215 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Spirit Airlines by 2.7% in the second quarter. PNC Financial Services Group Inc. now owns 8,222 shares of the company’s stock valued at $369,000 after buying an additional 219 shares during the period. 98.12% of the stock is currently 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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