Spirit Airlines, Inc. (NYSE:SAVE) has earned a consensus recommendation of "Hold" from the seventeen research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $29.58.
Several research analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Spirit Airlines from an "overweight" rating to an "underweight" rating and set a $25.00 target price on the stock. in a report on Wednesday, December 16th. Susquehanna Bancshares raised their target price on shares of Spirit Airlines from $22.00 to $27.00 and gave the stock a "neutral" rating in a report on Friday, February 12th. Cowen raised their target price on shares of Spirit Airlines from $29.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, February 12th. Bank of America upgraded shares of Spirit Airlines from an "underperform" rating to a "neutral" rating in a research report on Friday, January 8th. Finally, Credit Suisse Group increased their price target on shares of Spirit Airlines from $13.00 to $16.00 and gave the stock an "underperform" rating in a research report on Thursday, February 11th.
Spirit Airlines stock opened at $37.67 on Friday. Spirit Airlines has a twelve month low of $7.25 and a twelve month high of $40.77. The company's 50-day moving average price is $36.84 and its two-hundred day moving average price is $27.90. The stock has a market cap of $3.68 billion, a P/E ratio of -17.85 and a beta of 1.59. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.28.
Spirit Airlines (NYSE:SAVE) last announced its earnings results on Tuesday, February 9th. The company reported ($1.61) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($1.44) by ($0.17). Spirit Airlines had a negative return on equity of 20.56% and a negative net margin of 8.34%. The business had revenue of $498.50 million for the quarter, compared to the consensus estimate of $511.25 million. During the same period in the prior year, the business posted $1.24 earnings per share. The firm's revenue for the quarter was down 48.6% compared to the same quarter last year. Equities analysts anticipate that Spirit Airlines will post -8.28 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Spirit Airlines by 17.6% during the fourth quarter. BlackRock Inc. now owns 7,348,387 shares of the company's stock valued at $179,668,000 after acquiring an additional 1,099,852 shares during the last quarter. U S Global Investors Inc. bought a new position in shares of Spirit Airlines during the fourth quarter valued at $112,504,000. State Street Corp raised its stake in shares of Spirit Airlines by 11.4% during the third quarter. State Street Corp now owns 1,972,206 shares of the company's stock valued at $31,753,000 after acquiring an additional 202,408 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Spirit Airlines by 10.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 783,582 shares of the company's stock valued at $19,159,000 after acquiring an additional 76,603 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Spirit Airlines during the fourth quarter valued at $19,122,000. Hedge funds and other institutional investors own 52.20% of the company's stock.
Spirit Airlines Company Profile
Spirit Airlines, Inc provides airline services. It serves 78 destinations in 16 countries in the United States, Latin America, and the Caribbean. As of December 31, 2020, the company had a fleet of 157 Airbus single-aisle aircraft comprising 31 A319ceos, 64 A320ceos, 32 A320neos, and 30 A321ceos. It offers tickets through its call centers and airport ticket counters, as well as online through spirit.com; and through various third parties, including online, traditional travel agents, and electronic global distribution systems.
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