In yesterday’s Wall Street session, Spirit Airlines Inc. (NYSE:SAVE) shares traded at $17.08, down -4.85% from the previous session.
11 analysts cover Spirit Airlines Inc. (NYSE:SAVE), according to research data. 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 $17.95, this indicates a potential upside of 19.78 percent. SAVE stock price is now 1.08% away from the 50-day moving average and -5.24% away from the 200-day moving average. The market capitalization of the company currently stands at $1.85B.
The stock has received a hold rating from 9 analysts and a buy rating from 1. Brokers who have rated the stock have averaged $21.81 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 $0.78 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 $36,139,000. ANCIENT ART, L.P. invested $29,463,000 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 $19,540,000. SG AMERICAS SECURITIES, LLC acquired a new stake in SAVE for approximately $10,388,000. GRANTHAM, MAYO, VAN OTTERLOO & CO. LLC purchased a new stake in SAVE valued at around $9,445,000 in the second quarter.
On Wednesday morning Spirit Airlines Inc. (NYSE: SAVE) stock kicked off with the opening price of $17.80. During the past 12 months, Spirit Airlines Inc. has had a low of $14.25 and a high of $24.02. 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 $17.05 and a two-hundred day moving average price translates $18.51 for the stock.
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 07/31/2023. Investors who held shares on 07/25/2023 were paid a $0.10 dividend.
