Deutsche Bank Aktiengesellschaft Lowers Spirit Airlines (NYSE:SAVE) Price Target to $3.00

Spirit Airlines (NYSE:SAVE - Free Report) had its target price lowered by Deutsche Bank Aktiengesellschaft from $4.00 to $3.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

SAVE has been the subject of several other research reports. Barclays assumed coverage on shares of Spirit Airlines in a report on Wednesday, March 27th. They issued an underweight rating and a $4.00 price target on the stock. Seaport Res Ptn cut shares of Spirit Airlines from a buy rating to a neutral rating in a research note on Wednesday, January 17th. Citigroup dropped their price objective on Spirit Airlines from $4.00 to $3.85 and set a sell rating for the company in a research note on Wednesday, April 17th. Evercore ISI lowered their target price on shares of Spirit Airlines from $18.00 to $3.50 and set an in-line rating on the stock in a research note on Thursday, April 4th. Finally, Bank of America started coverage on shares of Spirit Airlines in a research report on Wednesday, January 17th. They set an underperform rating and a $5.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Reduce and a consensus target price of $4.54.

Spirit Airlines Stock Down 1.2 %

Shares of SAVE traded down $0.04 during trading hours on Tuesday, hitting $3.31. The stock had a trading volume of 9,096,957 shares, compared to its average volume of 13,825,525. The firm has a market capitalization of $362.45 million, a P/E ratio of -0.81 and a beta of 1.41. Spirit Airlines has a 1-year low of $3.18 and a 1-year high of $19.69. The firm has a 50 day simple moving average of $4.54 and a 200-day simple moving average of $9.20. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.90 and a quick ratio of 0.90.

Spirit Airlines (NYSE:SAVE - Get Free Report) last posted its earnings results on Monday, May 6th. The company reported ($1.46) earnings per share for the quarter, missing analysts' consensus estimates of ($1.45) by ($0.01). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Spirit Airlines had a negative return on equity of 26.38% and a negative net margin of 8.34%. The company's revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.82) EPS. Sell-side analysts predict that Spirit Airlines will post -2.79 EPS for the current fiscal year.

Spirit Airlines Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, February 29th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, February 22nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SAVE. International Assets Investment Management LLC increased its stake in shares of Spirit Airlines by 467.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,970 shares of the company's stock worth $32,000 after purchasing an additional 1,623 shares in the last quarter. First Horizon Advisors Inc. purchased a new position in shares of Spirit Airlines during the 4th quarter worth about $33,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Spirit Airlines during the third quarter valued at approximately $50,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Spirit Airlines by 862.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,466 shares of the company's stock valued at $57,000 after acquiring an additional 3,106 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its position in shares of Spirit Airlines by 21,975.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,532 shares of the company's stock worth $58,000 after buying an additional 3,516 shares in the last quarter. 58.73% of the stock is owned by hedge funds and other institutional investors.

About Spirit Airlines

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.