Spirit Airlines Inc. (SAVE) Trading 3.2% Higher
Spirit Airlines Inc. (NASDAQ:SAVE) traded up 3.2% during trading on Thursday . The company traded as high as $45.30 and last traded at $45.03, with a volume of 507,788 shares traded. The stock had previously closed at $43.64.
A number of equities research analysts recently commented on the company. Vetr upgraded Spirit Airlines from a “buy” rating to a “strong-buy” rating and set a $55.32 price target on the stock in a research report on Tuesday, April 26th. Credit Suisse Group AG restated an “outperform” rating on shares of Spirit Airlines in a research report on Wednesday. Deutsche Bank AG restated a “buy” rating on shares of Spirit Airlines in a research report on Saturday, April 9th. Sterne Agee CRT restated a “buy” rating on shares of Spirit Airlines in a research report on Monday, May 16th. Finally, JPMorgan Chase & Co. lowered Spirit Airlines from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $51.00 to $52.00 in a research report on Wednesday, April 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $61.40.
The stock’s 50 day moving average is $43.44 and its 200-day moving average is $44.43. The stock has a market cap of $3.21 billion and a PE ratio of 10.47.
Spirit Airlines (NASDAQ:SAVE) last posted its earnings results on Tuesday, April 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.05. The company had revenue of $538.10 million for the quarter, compared to the consensus estimate of $528.87 million. During the same period in the previous year, the firm posted $0.96 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts forecast that Spirit Airlines Inc. will post $4.01 earnings per share for the current fiscal year.
Several hedge funds have modified their holdings of the company. OppenheimerFunds Inc. boosted its stake in shares of Spirit Airlines by 7.2% in the fourth quarter. OppenheimerFunds Inc. now owns 1,823,826 shares of the company’s stock valued at $72,680,000 after buying an additional 122,268 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Spirit Airlines during the fourth quarter valued at $13,505,000. Olstein Capital Management L.P. boosted its stake in shares of Spirit Airlines by 28.9% in the fourth quarter. Olstein Capital Management L.P. now owns 448,700 shares of the company’s stock valued at $17,881,000 after buying an additional 100,700 shares in the last quarter. UBS Oconnor LLC acquired a new stake in shares of Spirit Airlines during the fourth quarter valued at $1,793,000. Finally, Marshall Wace LLP boosted its stake in shares of Spirit Airlines by 1,034.0% in the fourth quarter. Marshall Wace LLP now owns 515,254 shares of the company’s stock valued at $20,533,000 after buying an additional 469,819 shares in 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.