Buckingham Research cut shares of Spirit Airlines (NASDAQ:SAVE) from a buy rating to a neutral rating in a research note released on Monday, BenzingaRatingsTable reports. The firm currently has $41.00 price objective on the transportation company’s stock, down from their previous price objective of $69.00.

SAVE has been the topic of several other research reports. Cowen reduced their price target on shares of Spirit Airlines from $60.00 to $51.00 and set an outperform rating on the stock in a research report on Monday. Vertical Research assumed coverage on shares of Spirit Airlines in a research report on Thursday, August 22nd. They set a hold rating on the stock. Imperial Capital reduced their price target on shares of Spirit Airlines from $78.00 to $64.00 and set an outperform rating on the stock in a research report on Tuesday, July 30th. TheStreet downgraded shares of Spirit Airlines from a b- rating to a c rating in a research report on Wednesday, August 21st. Finally, Raymond James downgraded shares of Spirit Airlines from a strong-buy rating to a market perform rating and reduced their price target for the stock from $65.00 to $60.00 in a research report on Tuesday, September 3rd. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Spirit Airlines presently has an average rating of Hold and a consensus price target of $57.47.

Shares of NASDAQ SAVE opened at $38.27 on Monday. The firm’s 50-day simple moving average is $39.52 and its 200 day simple moving average is $48.73. Spirit Airlines has a 12-month low of $34.53 and a 12-month high of $65.35.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.05. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the company earned $1.11 EPS.

In other Spirit Airlines news, insider Edward M. Christie III bought 2,375 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were bought at an average cost of $41.93 per share, for a total transaction of $99,583.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director H. Mcintyre Gardner bought 2,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were acquired at an average price of $41.92 per share, for a total transaction of $104,800.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 5,051 shares of company stock worth $211,885. Corporate insiders own 0.33% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Boston Partners increased its stake in shares of Spirit Airlines by 869.4% in the 2nd quarter. Boston Partners now owns 540,967 shares of the transportation company’s stock valued at $25,916,000 after acquiring an additional 485,162 shares during the last quarter. BlackRock Inc. increased its stake in shares of Spirit Airlines by 2.0% in the 2nd quarter. BlackRock Inc. now owns 4,768,550 shares of the transportation company’s stock valued at $227,603,000 after acquiring an additional 94,529 shares during the last quarter. Hodges Capital Management Inc. increased its stake in shares of Spirit Airlines by 15.8% in the 2nd quarter. Hodges Capital Management Inc. now owns 244,325 shares of the transportation company’s stock valued at $11,662,000 after acquiring an additional 33,260 shares during the last quarter. UBS Group AG increased its stake in shares of Spirit Airlines by 55.0% in the 2nd quarter. UBS Group AG now owns 374,061 shares of the transportation company’s stock valued at $17,854,000 after acquiring an additional 132,698 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Spirit Airlines by 10.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,093 shares of the transportation company’s stock valued at $296,000 after acquiring an additional 556 shares during the last quarter.

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.

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Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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