Imperial Capital Reiterates “Outperform” Rating for Spirit Airlines Incorporated (SAVE)
Spirit Airlines Incorporated (NASDAQ:SAVE)‘s stock had its “outperform” rating reiterated by analysts at Imperial Capital in a research note issued to investors on Friday.
Other research analysts have also issued research reports about the company. Cowen and Company increased their target price on Spirit Airlines from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 8th. Zacks Investment Research raised Spirit Airlines from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Thursday, January 12th. Morgan Stanley reissued an “equal weight” rating on shares of Spirit Airlines in a research report on Friday, December 16th. Barclays PLC assumed coverage on Spirit Airlines in a research report on Thursday, December 15th. They issued an “equal weight” rating and a $67.00 target price for the company. Finally, Citigroup Inc lowered Spirit Airlines from a “buy” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $61.00 in a research report on Friday, November 18th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Spirit Airlines currently has an average rating of “Buy” and an average target price of $58.75.
Spirit Airlines (NASDAQ:SAVE) opened at 51.10 on Friday. Spirit Airlines has a 52-week low of $37.17 and a 52-week high of $60.40. The stock has a market cap of $3.54 billion, a PE ratio of 13.59 and a beta of 0.78. The firm has a 50-day moving average price of $52.62 and a 200 day moving average price of $50.44.
Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Tuesday, February 7th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Spirit Airlines had a return on equity of 22.22% and a net margin of 11.41%. The firm earned $578.40 million during the quarter, compared to analyst estimates of $578.35 million. During the same quarter in the prior year, the company earned $1.02 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. On average, analysts forecast that Spirit Airlines will post $3.92 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of SAVE. Middleton & Co Inc MA raised its position in Spirit Airlines by 0.3% in the third quarter. Middleton & Co Inc MA now owns 17,360 shares of the company’s stock worth $738,000 after buying an additional 45 shares during the period. Stanley Laman Group Ltd. raised its position in Spirit Airlines by 0.3% in the third quarter. Stanley Laman Group Ltd. now owns 20,344 shares of the company’s stock worth $865,000 after buying an additional 61 shares during the period. Envestnet Asset Management Inc. raised its position in Spirit Airlines by 2.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,731 shares of the company’s stock worth $216,000 after buying an additional 92 shares during the period. Independent Portfolio Consultants Inc. raised its position 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. Finally, BlackRock Inc. raised its position in Spirit Airlines by 3.3% in the third quarter. BlackRock Inc. now owns 22,699 shares of the company’s stock worth $965,000 after buying an additional 731 shares during the period. 96.91% of the stock is owned by institutional investors.
Spirit Airlines Company Profile
Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.
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