Stocks of Spirit Airlines Inc. (NYSE:SAVE) traded higher last session on Wall Street, up 4.26% to $18.61.
According to the data, Spirit Airlines Inc. (NYSE:SAVE) has 11 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $30.00 and a low of $10.00, we find $21.50. Given the previous closing price of $17.85, this indicates a potential upside of 20.45 percent. SAVE stock price is now 16.33% away from the 50-day moving average and 2.33% away from the 200-day moving average. The market capitalization of the company currently stands at $1.95B.
A total of 9 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $21.63 as their price target over the next twelve months.
With the price target reduced from $27 to $24, Deutsche Bank Downgraded its rating from Buy to Hold for Spirit Airlines Inc. (NYSE: SAVE).
Insiders disposed of 45,508 shares of company stock worth roughly $0.85 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SAVE stock. A new stake in Spirit Airlines Inc. shares was purchased by CYRUS CAPITAL PARTNERS, L.P. during the first quarter worth $39,376,000. ANCIENT ART, L.P. invested $32,102,000 in shares of SAVE during the first quarter. In the first quarter, MIG CAPITAL, LLC acquired a new stake in Spirit Airlines Inc. valued at approximately $21,291,000. GRANTHAM, MAYO, VAN OTTERLOO & CO. LLC acquired a new stake in SAVE for approximately $10,291,000. CONGRESS ASSET MANAGEMENT CO /MA purchased a new stake in SAVE valued at around $4,815,000 in the second quarter. In total, there are 296 active investors with 68.70% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $17.91 for Spirit Airlines Inc. (NYSE: SAVE). During the past 12 months, Spirit Airlines Inc. has had a low of $14.32 and a high of $24.80. As of last week, the company has a debt-to-equity ratio of 2.33, a current ratio of 1.10, and a quick ratio of 1.10. The fifty day moving average price for SAVE is $16.15 and a two-hundred day moving average price translates $18.63 for the stock.
The latest earnings results from Spirit Airlines Inc. (NYSE: SAVE) was released for Mar, 2023. According to the Airlines Company, earnings per share came in at -$0.82, beating analysts’ expectations of -$0.85 by 0.03. This compares to -$1.79 EPS in the same period last year. The net profit margin was -8.50% and return on equity was -27.40% for SAVE. The company reported revenue of $1.35 billion for the quarter, compared to $967.32 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 39.54 percent. For the current quarter, analysts expect SAVE to generate $1.47B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/26/2023 were paid a $0.10 dividend.
Spirit Airlines Inc.(SAVE) Company Profile
Spirit Airlines, Inc. provides airline services. The company provides front seats, including wider seats with extra legroom, carry-on and checked baggage, assigned seats, travel insurance, and onboard beverages and snacks, as well as hotels, cars, vacation packages, and cruises services. It serves 92 destinations in 16 countries in the United States, Latin America, and the Caribbean. As of December 31, 2022, the company had a fleet of 194 Airbus single-aisle aircraft. 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.
