Spirit Airlines, Inc. provides airline services. It serves 85 destinations in 16 countries in the United States, Latin America, and the Caribbean. As of December 31, 2021, the company had a fleet of 173 Airbus single-aisle aircraft. It sells 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. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc. in 1992. Spirit Airlines, Inc. was founded in 1964 and is headquartered in Miramar, Florida.
Spirit Airlines Stock Up 0.6 %
SAVE Stock traded up $0.14 during trading on Thursday, reaching $24.73. The stock had a trading volume of 38,056 shares, compared to its average volume of 4,761,254. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -5.42 and a beta of 1.41. Spirit Airlines has a one year low of $15.92 and a one year high of $28.30. The company's 50 day moving average is $23.50 and its two-hundred day moving average is $22.87.
Spirit Airlines (NYSE:SAVE - Get Rating) last released its earnings results on Tuesday, August 9th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.46) by $0.16. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.35 billion. Spirit Airlines had a negative net margin of 14.63% and a negative return on equity of 19.70%. The company's quarterly revenue was up 59.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.34) earnings per share. Equities research analysts forecast that Spirit Airlines will post -0.53 EPS for the current year.
Analysts Set New Price Targets
Several research firms have weighed in on SAVE. Susquehanna Bancshares lifted their price target on shares of Spirit Airlines from $22.00 to $27.00 and gave the company a "neutral" rating in a research note on Tuesday, July 12th. Susquehanna boosted their target price on shares of Spirit Airlines from $22.00 to $27.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 12th. JPMorgan Chase & Co. downgraded shares of Spirit Airlines from an "overweight" rating to an "underweight" rating and decreased their target price for the stock from $30.00 to $29.00 in a research report on Friday, July 29th. Cowen decreased their target price on shares of Spirit Airlines to $30.00 in a research report on Tuesday. Finally, Evercore ISI boosted their target price on shares of Spirit Airlines from $25.00 to $28.00 and gave the stock an "in-line" rating in a research report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.85.