Spirit Airlines, Inc. (NASDAQ:SAVE) has earned an average rating of “Hold” from the seventeen analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $41.75.

Several analysts have recently commented on SAVE shares. Imperial Capital reissued an “in-line” rating and set a $36.00 price target (up from $32.00) on shares of Spirit Airlines in a research note on Friday, October 27th. Zacks Investment Research raised shares of Spirit Airlines from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price objective (down from $46.00) on shares of Spirit Airlines in a research note on Friday, September 1st. J P Morgan Chase & Co cut shares of Spirit Airlines from a “neutral” rating to an “underweight” rating and set a $39.00 price objective on the stock. in a research note on Wednesday, November 1st. Finally, Deutsche Bank cut shares of Spirit Airlines from a “buy” rating to a “hold” rating and set a $38.00 price objective on the stock. in a research note on Friday, October 6th.

Spirit Airlines (NASDAQ:SAVE) traded up $1.77 on Thursday, hitting $42.63. 2,865,917 shares of the stock traded hands, compared to its average volume of 1,427,561. Spirit Airlines has a twelve month low of $30.32 and a twelve month high of $60.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market capitalization of $2,870.00, a PE ratio of 11.64, a P/E/G ratio of 1.59 and a beta of 0.71.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings results on Thursday, October 26th. The transportation company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.04. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The business had revenue of $687.20 million for the quarter, compared to analysts’ expectations of $686.13 million. During the same period in the prior year, the firm earned $1.24 earnings per share. Spirit Airlines’s revenue was up 10.6% compared to the same quarter last year. sell-side analysts anticipate that Spirit Airlines will post 3.08 EPS for the current fiscal year.

Spirit Airlines declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

In other news, Director H. Mcintyre Gardner bought 5,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were bought at an average cost of $33.78 per share, for a total transaction of $168,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in Spirit Airlines by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after purchasing an additional 141 shares during the period. Advisor Group Inc. raised its holdings in Spirit Airlines by 18.8% in the second quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock worth $113,000 after purchasing an additional 344 shares during the period. First Personal Financial Services raised its holdings in Spirit Airlines by 87.9% in the third quarter. First Personal Financial Services now owns 3,088 shares of the transportation company’s stock worth $103,000 after purchasing an additional 1,445 shares during the period. Victory Capital Management Inc. acquired a new stake in Spirit Airlines in the third quarter worth $142,000. Finally, Intact Investment Management Inc. acquired a new stake in Spirit Airlines in the second quarter worth $238,000.

ILLEGAL ACTIVITY WARNING: “Spirit Airlines, Inc. (SAVE) Given Average Rating of “Hold” by Brokerages” was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/11/30/spirit-airlines-inc-save-given-average-rating-of-hold-by-brokerages.html.

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.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

Receive News & Ratings for Spirit Airlines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.