Spirit Airlines Incorporated (SAVE) Receives Consensus Recommendation of “Hold” from Analysts
Spirit Airlines Incorporated (NASDAQ:SAVE) has received a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $47.33.
SAVE has been the topic of a number of research reports. Deutsche Bank upgraded Spirit Airlines from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $58.00 in a research note on Thursday, December 21st. Stifel Nicolaus cut Spirit Airlines from a “buy” rating to a “hold” rating and upped their price target for the stock from $45.00 to $50.00 in a research note on Monday, January 15th. Bank of America upgraded Spirit Airlines from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Tuesday, January 9th. JPMorgan Chase & Co. cut Spirit Airlines from a “neutral” rating to an “underweight” rating and set a $39.00 price target on the stock. in a research note on Wednesday, November 1st. Finally, Morgan Stanley upped their price target on Spirit Airlines from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, October 23rd.
In other news, VP John A. Bendoraitis sold 2,340 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $42.92, for a total value of $100,432.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.
Spirit Airlines (NASDAQ SAVE) traded down $0.82 during trading hours on Tuesday, reaching $38.90. The company’s stock had a trading volume of 1,090,000 shares, compared to its average volume of 1,560,000. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Spirit Airlines has a one year low of $30.32 and a one year high of $60.28. The firm has a market capitalization of $2,700.00, a PE ratio of 6.39, a price-to-earnings-growth ratio of 1.82 and a beta of 0.60.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings results on Tuesday, February 6th. The transportation company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. The company had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $666.12 million. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. equities analysts predict that Spirit Airlines will post 3.08 earnings per share for the current fiscal year.
Spirit Airlines announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
ILLEGAL ACTIVITY NOTICE: “Spirit Airlines Incorporated (SAVE) Receives Consensus Recommendation of “Hold” from Analysts” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this piece can be viewed at https://www.thecerbatgem.com/2018/02/21/spirit-airlines-incorporated-save-receives-consensus-recommendation-of-hold-from-analysts.html.
Spirit Airlines Company Profile
Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.
Receive News & Ratings for Spirit Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines and related companies with MarketBeat.com's FREE daily email newsletter.