Spirit Airlines, Inc. (NASDAQ:SAVE) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday.
Other analysts also recently issued research reports about the stock. Cowen and Company reissued a “market perform” rating and set a $59.00 price objective on shares of Spirit Airlines in a report on Tuesday, July 18th. Morgan Stanley reissued an “equal weight” rating and set a $60.00 price objective (down previously from $61.00) on shares of Spirit Airlines in a report on Thursday, July 13th. Imperial Capital lifted their target price on shares of Spirit Airlines from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, May 1st. Bank of America Corporation cut their target price on shares of Spirit Airlines from $75.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, June 30th. Finally, Deutsche Bank AG cut their target price on shares of Spirit Airlines from $71.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $63.21.
Spirit Airlines (NASDAQ:SAVE) traded down 0.63% during midday trading on Tuesday, hitting $48.71. 841,000 shares of the stock traded hands. Spirit Airlines has a one year low of $37.17 and a one year high of $60.40. The company’s 50 day moving average is $52.88 and its 200-day moving average is $53.78. The company has a market cap of $3.38 billion, a P/E ratio of 14.48 and a beta of 0.63.
Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Friday, April 28th. The transportation company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The business had revenue of $591.80 million for the quarter, compared to the consensus estimate of $591.31 million. Spirit Airlines had a net margin of 9.89% and a return on equity of 18.60%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, equities research analysts forecast that Spirit Airlines will post $4.16 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: “Spirit Airlines, Inc. (NASDAQ:SAVE) Downgraded by BidaskClub to Strong Sell” was published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://stocknewstimes.com/2017/07/25/spirit-airlines-inc-nasdaqsave-downgraded-by-bidaskclub-to-strong-sell.html.
In other Spirit Airlines news, VP Edmundo Miranda sold 3,131 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $59.39, for a total transaction of $185,950.09. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.
Several hedge funds have recently modified their holdings of SAVE. Russell Investments Group Ltd. boosted its stake in shares of Spirit Airlines by 47.9% in the second quarter. Russell Investments Group Ltd. now owns 112,059 shares of the transportation company’s stock worth $5,789,000 after buying an additional 36,273 shares during the period. Quantitative Systematic Strategies LLC boosted its position in Spirit Airlines by 11.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 48,518 shares of the transportation company’s stock valued at $2,527,000 after buying an additional 5,059 shares during the last quarter. Aperio Group LLC boosted its position in Spirit Airlines by 4.6% in the second quarter. Aperio Group LLC now owns 7,260 shares of the transportation company’s stock valued at $375,000 after buying an additional 322 shares during the last quarter. Camarda Financial Advisors LLC boosted its position in Spirit Airlines by 0.3% in the second quarter. Camarda Financial Advisors LLC now owns 32,224 shares of the transportation company’s stock valued at $1,664,000 after buying an additional 101 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Spirit Airlines during the second quarter valued at approximately $1,312,000.
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.
Receive News & Ratings for Spirit Airlines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
