Spirit Airlines Inc. (SAVE) Sees Strong Trading Volume
Spirit Airlines Inc. (NASDAQ:SAVE) saw strong trading volume on Tuesday . 902,659 shares were traded during mid-day trading, a decline of 6% from the previous session’s volume of 959,153 shares.The stock last traded at $39.78 and had previously closed at $39.39.
A number of research analysts recently issued reports on the company. Citigroup Inc. reiterated a “buy” rating and issued a $56.00 target price on shares of Spirit Airlines in a report on Tuesday, July 19th. Credit Suisse Group AG reiterated an “outperform” rating on shares of Spirit Airlines in a report on Wednesday, July 6th. Deutsche Bank AG decreased their target price on Spirit Airlines from $56.00 to $52.00 and set a “buy” rating for the company in a report on Monday, August 1st. Zacks Investment Research lowered Spirit Airlines from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 29th. Finally, Sterne Agee CRT reiterated a “buy” rating on shares of Spirit Airlines in a report on Monday, May 16th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $59.49.
The firm has a market cap of $2.80 billion and a P/E ratio of 9.33. The firm’s 50 day moving average price is $42.01 and its 200 day moving average price is $44.65.
Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Friday, July 29th. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The business had revenue of $584.10 million for the quarter, compared to analysts’ expectations of $594.47 million. During the same period last year, the company posted $1.03 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Spirit Airlines Inc. will post $3.91 earnings per share for the current fiscal year.
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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