NYSE:SAVE

Spirit Airlines - SAVE Stock Forecast, Price & News

$24.91

+0.34 (+1.38%)

(As of 08/15/2022 12:00 AM ET)

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Today's Range: $24.51
▼
$25.00
50-Day Range: $23.38
▼
$25.66
52-Week Range: $15.92
▼
$28.30

Volume: 1.41 million shs
Average Volume: 4.70 million shs
Market Capitalization: $2.71 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $29.27

Spirit Airlines MarketRank™ Forecast

Analyst Rating: Hold
2.23 Rating Score
Upside/Downside: 17.5% Upside
$29.27 Price Target
Short Interest: Bearish
9.19% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: -0.14
Based on 26 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: Growing
From ($0.53) to $2.60 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.82 out of 5 stars

Transportation Sector

100th out of 128 stocks

Air Transportation, Scheduled Industry

14th out of 19 stocks

3.1

Analyst's Opinion

Consensus Rating
Spirit Airlines has received a consensus rating of Hold. The company's average rating score is 2.21, and is based on 4 buy ratings, 9 hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $29.27, Spirit Airlines has a forecasted upside of 17.5% from its current price of $24.91.
Amount of Analyst Coverage
Spirit Airlines has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

2.0

Short Interest

Percentage of Shares Shorted
9.19% of the float of Spirit Airlines has been sold short.
Short Interest Ratio / Days to Cover
Spirit Airlines has a short interest ratio ("days to cover") of 1.7, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Spirit Airlines has recently increased by 10.85%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Spirit Airlines does not currently pay a dividend.
Dividend Growth
Spirit Airlines does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for SAVE.

2.1

News and Social Media Coverage

News Sentiment
Spirit Airlines has a news sentiment score of -0.14. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.58 average news sentiment score of Transportation companies.
News Coverage This Week
MarketBeat has tracked 26 news articles for Spirit Airlines this week, compared to 12 articles on an average week.
Search Interest
31 people have searched for SAVE on MarketBeat in the last 30 days. This is an increase of 3% compared to the previous 30 days.
MarketBeat Follows
12 people have added Spirit Airlines to their MarketBeat watchlist in the last 30 days. This is an increase of 9% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Spirit Airlines insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 0.37% of the stock of Spirit Airlines is held by insiders.
Percentage Held by Institutions
62.67% of the stock of Spirit Airlines is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Spirit Airlines are expected to grow in the coming year, from ($0.53) to $2.60 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Spirit Airlines is -5.49, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Spirit Airlines is -5.49, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Spirit Airlines has a P/B Ratio of 1.28. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Spirit Airlines (NYSE:SAVE) Stock

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 1.4 %

SAVE traded up $0.34 during trading on Monday, hitting $24.91. 1,408,567 shares of the company's stock traded hands, compared to its average volume of 4,695,934. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -5.49 and a beta of 1.41. Spirit Airlines has a 12-month low of $15.92 and a 12-month high of $28.30. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41. The company's 50 day simple moving average is $24.39 and its two-hundred day simple moving average is $22.37.

Spirit Airlines (NYSE:SAVE - Get Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.04. Spirit Airlines had a negative return on equity of 19.70% and a negative net margin of 14.63%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.35 billion. Analysts predict that Spirit Airlines will post -0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SAVE. Deutsche Bank Aktiengesellschaft decreased their price objective on Spirit Airlines from $38.00 to $27.00 in a research report on Thursday, May 5th. Melius initiated coverage on Spirit Airlines in a research note on Monday. They issued a "hold" rating on the stock. Cowen dropped their price target on Spirit Airlines to $30.00 in a research note on Tuesday, August 9th. JPMorgan Chase & Co. lowered Spirit Airlines from an "overweight" rating to an "underweight" rating and decreased their price objective for the company from $30.00 to $29.00 in a report on Friday, July 29th. Finally, Cowen lowered Spirit Airlines from an "outperform" rating to a "market perform" rating in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Spirit Airlines currently has an average rating of "Hold" and an average target price of $29.85.

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SAVE Stock News Headlines

August 14, 2022 | msn.com

How to upgrade your seat on Spirit Airlines

August 13, 2022 | msn.com

Spirit Airlines suspends agent following an altercation with a passenger who yelled racial and homophobic abuse at him

August 12, 2022 | 247wallst.com

These Are The Five Best And Worst Performing Airlines Stocks In 2022 (So Far)

August 12, 2022 | nypost.com

Spirit Airlines agent suspended after trading blows with female passenger

August 12, 2022 | finance.yahoo.com

Airline Stock Roundup: SAVE's Narrower-Than-Expected Q2 Loss, CPA's July Traffic

August 12, 2022 | finance.yahoo.com

United Airlines Holdings, Inc. -- Moody's announces completion of a periodic review for a group of Passenger Airlines issuers

August 11, 2022 | msn.com

Bald eagle caught in Spirit Airlines engine led to fire on Atlantic City runway in 2021

August 10, 2022 | finance.yahoo.com

Nevadans Gain Easier Cross-State Travel Option & Exciting Connection Options with Spirit Airlines' Nonstop Service in Reno

August 10, 2022 | seekingalpha.com

Spirit Airlines Inc. (SAVE) CEO Ted Christie on Q2 2022 Results - Earnings Call Transcript

August 10, 2022 | americanbankingnews.com

Spirit Airlines (NYSE:SAVE) Price Target Lowered to $30.00 at Cowen

August 9, 2022 | msn.com

Spirit Airlines: Q2 Earnings Insights

August 9, 2022 | finance.yahoo.com

Airline Stocks: Spirit Losses Slow Despite Spike In Fuel Costs

August 9, 2022 | msn.com

Spirit Airlines posts loss on surge in costs, expects Florida challenges to continue

August 9, 2022 | seekingalpha.com

Spirit Airlines flies above earnings estimates despite surging costs

August 9, 2022 | finance.yahoo.com

Spirit Airlines Reports Second Quarter 2022 Results

August 8, 2022 | msn.com

Will JetBlue Take Away the One Thing People Like About Spirit?

August 8, 2022 | finance.yahoo.com

Sun Country Airlines Holdings, Inc. (SNCY) Reports Q2 Loss, Misses Revenue Estimates

August 8, 2022 | finance.yahoo.com

Spirit Airlines set to report earnings ahead of Tuesday's opening

August 8, 2022 | finance.yahoo.com

Airline Stocks: Spirit Earnings Due As Street Looks Beyond Labor Day

August 8, 2022 | forbes.com

Could Overlooked Factors Make The JetBlue/Spirit Merger A Success?

August 8, 2022 | americanbankingnews.com

Spirit Airlines (SAVE) Scheduled to Post Quarterly Earnings on Tuesday

August 7, 2022 | finance.yahoo.com

Spirit Airlines Stock Is Still a No-Brainer Buy After JetBlue Merger Announcement -- Here's Why

August 6, 2022 | bizjournals.com

Here's how JetBlue and Spirit overlap at Chicago airports

August 5, 2022 | bizjournals.com

Frontier Airlines wipes two nonstop destinations off the map for KCI flyers; American's flight cuts hit three hubs

August 5, 2022 | finance.yahoo.com

Spirit Airlines' First Idaho Flight Takes to the Sky with the Launch of Nonstop Service from Boise

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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SAVE Company Calendar

Last Earnings: 8/09/2022
Today: 8/15/2022
Next Earnings (Estimated): 10/26/2022
Fiscal Year End: 12/31/2022

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Air transportation, scheduled
Sub-Industry: N/A
Sector: Transportation
Current Symbol: NYSE:SAVE
CUSIP: N/A
CIK: 1498710
Web: www.spirit.com
Phone: (954) 447-7920
Fax: 954-447-7979
Employees: 9,823
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $29.27
High Stock Price Forecast: $38.00
Low Stock Price Forecast: $25.00
Forecasted Upside/Downside: +17.5%
Consensus Rating: Hold
Rating Score (0-4): 2.23
Research Coverage: 14 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($4.54)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-472,570,000.00
Net Margins: -14.63%
Pretax Margin: -16.10%
Return on Equity: -19.70%
Return on Assets: -4.95%

Debt

Debt-to-Equity Ratio: 1.41
Current Ratio: 1.44
Quick Ratio: 1.44

Sales & Book Value

Annual Sales: $3.23 billion
Price / Sales: 0.84
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $19.50 per share
Price / Book: 1.28

Miscellaneous

Outstanding Shares: 108,851,000
Free Float: 108,199,000
Market Cap: $2.71 billion
Optionable: Optionable
Beta: 1.41

Key Executives

Mr. Edward M. Christie III (Age 51)
Pres, CEO & Director
Comp: $1.77M
Mr. Scott M. Haralson (Age 49)
Sr. VP & CFO
Comp: $751.38k
Mr. John Bendoraitis (Age 58)
Exec. VP & COO
Comp: $933.55k
Mr. Thomas C. Canfield (Age 66)
Sr. VP, Gen. Counsel & Company Sec.
Comp: $701.45k
Mr. Matthew H. Klein (Age 48)
Exec. VP & Chief Commercial Officer
Comp: $856.66k
Mr. Rocky B. Wiggins (Age 63)
Sr. VP & Chief Information Officer
DeAnne Gabel
Sr. Director of Investor Relations
Mr. Robert A. Schroeter (Age 44)
Sr. VP & Chief Marketing Officer
Ms. Melinda C. Grindle
Sr. VP & Chief HR Officer
Mr. Brian J. McMenamy (Age 63)
VP & Controller

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

SAVE Stock - Frequently Asked Questions

Should I buy or sell Spirit Airlines stock right now?: 13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Spirit Airlines in the last year. There are currently 1 sell rating, 8 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" SAVE shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SAVE, but not buy additional shares or sell existing shares.
View SAVE analyst ratings or view top-rated stocks.
What is Spirit Airlines' stock price forecast for 2022?: 13 analysts have issued 12 month price targets for Spirit Airlines' stock. Their SAVE share price forecasts range from $25.00 to $38.00. On average, they expect the company's share price to reach $29.27 in the next year. This suggests a possible upside of 17.5% from the stock's current price.
View analysts price targets for SAVE or view top-rated stocks among Wall Street analysts.
How have SAVE shares performed in 2022?: Spirit Airlines' stock was trading at $21.85 on January 1st, 2022. Since then, SAVE stock has increased by 14.0% and is now trading at $24.91.
View the best growth stocks for 2022 here.
Are investors shorting Spirit Airlines?: Spirit Airlines saw a decline in short interest in July. As of July 15th, there was short interest totaling 5,620,000 shares, a decline of 37.1% from the June 30th total of 8,930,000 shares. Based on an average daily volume of 3,830,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 8.3% of the shares of the stock are short sold.
View Spirit Airlines' Short Interest.
When is Spirit Airlines' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, October 26th 2022.
View our SAVE earnings forecast.
How were Spirit Airlines' earnings last quarter?: Spirit Airlines, Inc. (NYSE:SAVE) posted its quarterly earnings results on Tuesday, August, 9th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.04. The company 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 trailing twelve-month return on equity of 19.70%.

What guidance has Spirit Airlines issued on next quarter's earnings?: Spirit Airlines issued an update on its third quarter 2022 earnings guidance on Friday, August, 12th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $1.33 billion-$1.37 billion, compared to the consensus revenue estimate of $1.43 billion.
What is Ted Christie's approval rating as Spirit Airlines' CEO?: 78 employees have rated Spirit Airlines Chief Executive Officer Ted Christie on Glassdoor.com. Ted Christie has an approval rating of 93% among the company's employees. This puts Ted Christie in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.
What is Spirit Airlines' stock symbol?: Spirit Airlines trades on the New York Stock Exchange (NYSE) under the ticker symbol "SAVE."
Who are Spirit Airlines' major shareholders?: Spirit Airlines' stock is owned by many different retail and institutional investors. Top institutional shareholders include FMR LLC (5.56%), UBS Asset Management Americas Inc. (1.83%), Versor Investments LP (1.43%), Alpine Associates Management Inc. (1.11%), Northern Trust Corp (0.86%) and Letko Brosseau & Associates Inc. (0.85%). Insiders that own company stock include Brian J Mcmenamy, Christine P Richards, H Mcintyre Gardner, Robert D Johnson and Thomas C Canfield.
View institutional ownership trends.
How do I buy shares of Spirit Airlines?: Shares of SAVE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Spirit Airlines' stock price today?: One share of SAVE stock can currently be purchased for approximately $24.91.
How much money does Spirit Airlines make?: Spirit Airlines (NYSE:SAVE) has a market capitalization of $2.71 billion and generates $3.23 billion in revenue each year. The company earns $-472,570,000.00 in net income (profit) each year or ($4.54) on an earnings per share basis.
How many employees does Spirit Airlines have?: The company employs 9,823 workers across the globe.
How can I contact Spirit Airlines?: Spirit Airlines' mailing address is 2800 EXECUTIVE WAY, MIRAMAR FL, 33025. The official website for the company is www.spirit.com. The company can be reached via phone at (954) 447-7920, via email at investorrelations@spirit.com, or via fax at 954-447-7979.

This page (NYSE:SAVE) was last updated on 8/16/2022 by MarketBeat.com Staff

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Spirit Airlines - SAVE Stock Forecast, Price & News

Spirit Airlines MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Spirit Airlines (NYSE:SAVE) Stock

Spirit Airlines Stock Up 1.4 %

Wall Street Analyst Weigh In

SAVE Stock News Headlines

SAVE Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Insiders & Institutions

SAVE Stock - Frequently Asked Questions

MarketBeat Resources

Premium Research Tools

Market Data and Calendars

Investing Education and Resources

Overall MarketRank^™