Spirit Airlines Inc. (SAVE) Trading Up 3.9%
Spirit Airlines Inc. (NASDAQ:SAVE) was up 3.9% during trading on Friday . The stock traded as high as $43.91 and last traded at $43.90, with a volume of 809,575 shares changing hands. The stock had previously closed at $42.25.
A number of equities research analysts have issued reports on the company. Buckingham Research reaffirmed a “buy” rating on shares of Spirit Airlines in a research report on Friday, April 15th. Vetr cut Spirit Airlines from a “strong-buy” rating to a “buy” rating and set a $55.73 target price for the company. in a research report on Monday, April 18th. Credit Suisse Group AG raised Spirit Airlines from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $44.00 to $55.00 in a research report on Monday, June 20th. Citigroup Inc. reaffirmed a “buy” rating and set a $60.00 target price (up previously from $57.00) on shares of Spirit Airlines in a research report on Tuesday, April 19th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Spirit Airlines in a research report on Monday, April 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $59.55.
The company has a market capitalization of $3.12 billion and a PE ratio of 10.17. The stock has a 50-day moving average of $44.54 and a 200-day moving average of $44.76.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Tuesday, April 26th. The company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.05. The company had revenue of $538.10 million for the quarter, compared to analyst estimates of $528.87 million. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. Equities research analysts anticipate that Spirit Airlines Inc. will post $3.91 EPS for the current fiscal year.
Several hedge funds and institutional investors recently bought and sold shares of the company. Freestone Capital Holdings LLC raised its position in Spirit Airlines by 116.3% in the fourth quarter. Freestone Capital Holdings LLC now owns 37,551 shares of the company’s stock valued at $1,496,000 after buying an additional 20,192 shares during the period. UBS Oconnor LLC bought a new position in Spirit Airlines during the fourth quarter valued at $1,793,000. Rhumbline Advisers raised its position in Spirit Airlines by 0.9% in the fourth quarter. Rhumbline Advisers now owns 63,907 shares of the company’s stock valued at $2,547,000 after buying an additional 590 shares during the period. Nationwide Fund Advisors raised its position in Spirit Airlines by 16.3% in the fourth quarter. Nationwide Fund Advisors now owns 95,800 shares of the company’s stock valued at $3,818,000 after buying an additional 13,400 shares during the period. Finally, Century Capital Management LLC raised its position in Spirit Airlines by 44.5% in the fourth quarter. Century Capital Management LLC now owns 101,785 shares of the company’s stock valued at $4,056,000 after buying an additional 31,339 shares during the period.
Spirit Airlines, Inc is an airline company. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket.
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