Spirit Airlines Inc. (SAVE) Upgraded by Vetr Inc. to “Strong-Buy”
Vetr upgraded shares of Spirit Airlines Inc. (NASDAQ:SAVE) from a buy rating to a strong-buy rating in a research note published on Tuesday morning. The brokerage currently has $51.50 target price on the stock.
A number of other analysts have also recently weighed in on the company. Citigroup Inc. lowered their price objective on Spirit Airlines from $56.00 to $51.00 and set a buy rating for the company in a research report on Monday, August 8th. Imperial Capital initiated coverage on Spirit Airlines in a research report on Thursday, September 29th. They issued an outperform rating and a $51.00 price objective for the company. Deutsche Bank AG lowered their price objective on Spirit Airlines from $56.00 to $52.00 and set a buy rating for the company in a research report on Monday, August 1st. Zacks Investment Research cut Spirit Airlines from a hold rating to a strong sell rating in a research report on Wednesday, June 29th. Finally, Raymond James Financial Inc. upgraded Spirit Airlines from an outperform rating to a strong-buy rating and set a $59.00 target price for the company in a research note on Thursday, August 4th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Spirit Airlines has a consensus rating of Buy and an average target price of $59.10.
Spirit Airlines (NASDAQ:SAVE) opened at 45.20 on Tuesday. The stock has a 50 day moving average price of $40.85 and a 200-day moving average price of $42.97. Spirit Airlines has a 1-year low of $32.73 and a 1-year high of $53.53. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 10.55 and a beta of 1.18.
Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.03. The firm earned $584.10 million during the quarter, compared to analysts’ expectations of $594.47 million. Spirit Airlines had a return on equity of 25.93% and a net margin of 13.83%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. On average, equities research analysts forecast that Spirit Airlines will post $3.91 EPS for the current year.
Several large investors have recently bought and sold shares of the stock. Moody Aldrich Partners LLC boosted its stake in Spirit Airlines by 12.6% in the third quarter. Moody Aldrich Partners LLC now owns 22,355 shares of the company’s stock worth $951,000 after buying an additional 2,510 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in Spirit Airlines by 5.2% in the third quarter. Independent Portfolio Consultants Inc. now owns 3,511 shares of the company’s stock worth $149,000 after buying an additional 175 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Spirit Airlines by 1,513.1% in the third quarter. BNP Paribas Arbitrage SA now owns 7,856 shares of the company’s stock worth $334,000 after buying an additional 7,369 shares during the period. Nomura Holdings Inc. boosted its stake in Spirit Airlines by 43.6% in the second quarter. Nomura Holdings Inc. now owns 8,400 shares of the company’s stock worth $376,000 after buying an additional 2,552 shares during the period. Finally, Royal Bank of Canada boosted its stake in Spirit Airlines by 9.3% in the second quarter. Royal Bank of Canada now owns 495,713 shares of the company’s stock worth $22,242,000 after buying an additional 42,148 shares during the period. Hedge funds and other institutional investors own 98.15% of the company’s stock.
Spirit Airlines Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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