Spirit Airlines Inc. (NASDAQ:SAVE) saw strong trading volume on Thursday . 1,208,609 shares changed hands during mid-day trading, a decline of 9% from the previous session’s volume of 1,327,704 shares.The stock last traded at $42.73 and had previously closed at $43.81.

A number of analysts have recently commented on the company. Citigroup Inc. restated a “buy” rating and issued a $56.00 price objective on shares of Spirit Airlines in a research report on Tuesday. Credit Suisse Group AG restated an “outperform” rating on shares of Spirit Airlines in a research report on Wednesday, July 6th. Zacks Investment Research cut Spirit Airlines from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 29th. Sterne Agee CRT restated a “buy” rating on shares of Spirit Airlines in a research report on Monday, May 16th. Finally, Vetr upgraded Spirit Airlines from a “buy” rating to a “strong-buy” rating and set a $55.32 price objective for the company in a research report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Spirit Airlines has an average rating of “Buy” and an average price target of $59.55.

The firm has a market cap of $3.12 billion and a price-to-earnings ratio of 10.17. The company’s 50-day moving average is $44.54 and its 200 day moving average is $44.76.

Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Tuesday, April 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.05. During the same period last year, the company posted $0.96 earnings per share. The business had revenue of $538.10 million for the quarter, compared to analysts’ expectations of $528.87 million. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts expect that Spirit Airlines Inc. will post $3.91 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased 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 last quarter. Nationwide Fund Advisors increased 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 last quarter. Dimensional Fund Advisors LP increased its position in Spirit Airlines by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 421,734 shares of the company’s stock valued at $16,809,000 after buying an additional 17,540 shares during the last quarter. Freestone Capital Holdings LLC increased 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 last quarter. Finally, Century Capital Management LLC increased 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 last quarter.

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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