The Brokerages Set Spirit Airlines Inc. (SAVE) Target Price at $59.18

The Brokerages Set Spirit Airlines Inc. (SAVE) Target Price at $59.18

Spirit Airlines Inc. (NASDAQ:SAVE) has received an average rating of “Buy” from the nineteen brokerages that are currently covering the company. Four investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $59.18.

Several brokerages have recently issued reports on SAVE. Credit Suisse Group AG set a $55.00 price objective on shares of Spirit Airlines and gave the stock a “buy” rating in a research note on Tuesday, September 13th. Wolfe Research downgraded shares of Spirit Airlines from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 2nd. Vetr upgraded shares of Spirit Airlines from a “buy” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a research note on Monday. Zacks Investment Research upgraded shares of Spirit Airlines from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Finally, Citigroup Inc. restated a “buy” rating and issued a $56.00 price objective on shares of Spirit Airlines in a research note on Tuesday, July 19th.

Shares of Spirit Airlines (NASDAQ:SAVE) opened at 42.17 on Monday. The firm has a market cap of $2.95 billion, a PE ratio of 9.84 and a beta of 1.18. The company has a 50 day moving average of $40.34 and a 200-day moving average of $43.11. Spirit Airlines has a 12-month low of $32.73 and a 12-month high of $53.53.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.03. The business had revenue of $584.10 million for the quarter, compared to the consensus estimate of $594.47 million. Spirit Airlines had a net margin of 13.83% and a return on equity of 25.93%. Spirit Airlines’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. Equities research analysts forecast that Spirit Airlines will post $3.91 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Spirit Airlines by 3.2% in the first quarter. State Street Corp now owns 965,922 shares of the company’s stock worth $46,349,000 after buying an additional 29,746 shares in the last quarter. Cupps Capital Management LLC purchased a new stake in shares of Spirit Airlines during the first quarter valued at $5,925,000. OMERS ADMINISTRATION Corp boosted its stake in shares of Spirit Airlines by 6.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 9,900 shares of the company’s stock valued at $475,000 after buying an additional 600 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Spirit Airlines by 6.2% in the first quarter. Canada Pension Plan Investment Board now owns 24,000 shares of the company’s stock valued at $1,152,000 after buying an additional 1,400 shares in the last quarter. Finally, Menta Capital LLC purchased a new stake in shares of Spirit Airlines during the first quarter valued at $657,000. 98.20% of the stock is owned by institutional investors and hedge funds.

Related posts

Leave a Comment