Today, Imperial Capital Equities Analysts Increase Earnings Estimates for Spirit Airlines Inc. (SAVE)

Today, Imperial Capital Equities Analysts Increase Earnings Estimates for Spirit Airlines Inc. (SAVE)

Spirit Airlines Inc. (NASDAQ:SAVE) – Analysts at Imperial Capital increased their FY2018 EPS estimates for shares of Spirit Airlines in a research report issued on Tuesday. Imperial Capital analyst M. Derchin now forecasts that the brokerage will post earnings per share of $4.65 for the year, up from their previous forecast of $4.63. Imperial Capital has a “Outperform” rating and a $68.00 price target on the stock. Imperial Capital also issued estimates for Spirit Airlines’ FY2019 earnings at $3.19 EPS.

Several other analysts also recently issued reports on SAVE. Credit Suisse Group AG set a $55.00 price target on Spirit Airlines and gave the stock a “buy” rating in a research note on Tuesday, September 13th. Deutsche Bank AG upped their price target on Spirit Airlines from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, October 26th. Citigroup Inc. downgraded Spirit Airlines from a “buy” rating to a “neutral” rating and upped their price target for the stock from $52.00 to $61.00 in a research note on Friday, November 18th. Vetr downgraded Spirit Airlines from a “strong-buy” rating to a “buy” rating and set a $48.00 price target for the company. in a research note on Monday, October 17th. Finally, Wolfe Research downgraded Spirit Airlines from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 2nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $57.88.

Shares of Spirit Airlines (NASDAQ:SAVE) traded down 0.15% during midday trading on Friday, hitting $54.22. The stock had a trading volume of 336,981 shares. The firm has a 50-day moving average of $47.99 and a 200 day moving average of $43.56. The firm has a market cap of $3.76 billion, a PE ratio of 13.26 and a beta of 0.76. Spirit Airlines has a 12-month low of $35.17 and a 12-month high of $55.10.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $1.24 earnings per share for the quarter, beating 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 business earned $1.35 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis.

Several institutional investors have recently modified their holdings of SAVE. Legal & General Group Plc boosted its position in shares of Spirit Airlines by 9.5% in the second quarter. Legal & General Group Plc now owns 2,468 shares of the company’s stock worth $111,000 after buying an additional 215 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Spirit Airlines by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 2,515 shares of the company’s stock worth $113,000 after buying an additional 302 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Spirit Airlines by 38.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,065 shares of the company’s stock worth $138,000 after buying an additional 853 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Spirit Airlines by 9.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,336 shares of the company’s stock worth $150,000 after buying an additional 291 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Spirit Airlines by 855.3% in the second quarter. Huntington National Bank now owns 4,041 shares of the company’s stock worth $182,000 after buying an additional 3,618 shares in the last quarter. 98.12% of the stock is owned by institutional investors and hedge funds.

In other news, VP Robert Schroeter sold 3,500 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $53.76, for a total value of $188,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott Haralson sold 2,951 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $51.32, for a total value of $151,445.32. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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