Spirit Airlines (SAVE) Upgraded to “Hold” by BidaskClub
BidaskClub upgraded shares of Spirit Airlines (NASDAQ:SAVE) from a sell rating to a hold rating in a report published on Saturday morning.
SAVE has been the subject of several other research reports. UBS started coverage on Spirit Airlines in a report on Monday, April 9th. They set a neutral rating for the company. Bank of America set a $62.00 price target on Spirit Airlines and gave the company a buy rating in a report on Wednesday, April 11th. Buckingham Research raised their price target on Spirit Airlines from $45.00 to $46.00 and gave the company a neutral rating in a report on Friday, March 2nd. Imperial Capital reaffirmed an in-line rating and set a $42.00 price target (up previously from $36.00) on shares of Spirit Airlines in a report on Thursday, January 18th. Finally, Stifel Nicolaus cut Spirit Airlines from a buy rating to a hold rating and increased their price objective for the stock from $45.00 to $50.00 in a research report on Monday, January 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Spirit Airlines has a consensus rating of Hold and an average target price of $48.25.
Shares of Spirit Airlines stock opened at $38.43 on Friday. Spirit Airlines has a 1 year low of $30.32 and a 1 year high of $60.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.
In other Spirit Airlines news, COO John A. Bendoraitis sold 1,690 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $44.63, for a total transaction of $75,424.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of Spirit Airlines by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after purchasing an additional 141 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Spirit Airlines in the fourth quarter worth $183,000. LPL Financial LLC bought a new position in shares of Spirit Airlines in the fourth quarter worth $209,000. Advisor Group Inc. increased its position in shares of Spirit Airlines by 196.5% in the fourth quarter. Advisor Group Inc. now owns 4,720 shares of the transportation company’s stock worth $211,000 after purchasing an additional 3,128 shares during the period. Finally, Bluestein R H & Co. bought a new position in shares of Spirit Airlines in the fourth quarter worth $224,000.
About Spirit Airlines
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.
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