The price of Spirit Airlines Inc (NYSE:SAVE) shares last traded on Wall Street rose 5.18% to $15.03.
Based on available information, 11 analysts follow Spirit Airlines Inc (NYSE:SAVE). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $29.00 and a low of $7.00, we find $17.00. Given the previous closing price of $14.29, this indicates a potential upside of 18.96 percent. SAVE stock price is now 6.59% away from the 50-day moving average and -4.65% away from the 200-day moving average. The market capitalization of the company currently stands at $1.64B.
Among analysts, 8 rate the stock a hold while 1 rate it a buy. Brokers who have rated the stock have averaged $16.75 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 45,442 shares of company stock worth roughly $0.68 million over the past 1 year. A total of 0.93% of the company’s stock is owned by insiders.
A candlestick chart of Spirit Airlines Inc (NYSE: SAVE) showed a price of $14.29 on Wednesday morning. During the past 12 months, Spirit Airlines Inc has had a low of $8.61 and a high of $20.37. As of last week, the company has a debt-to-equity ratio of 5.01, a current ratio of 0.91, and a quick ratio of 0.91. The fifty day moving average price for SAVE is $14.26 and a two-hundred day moving average price translates $16.27 for the stock.
The latest earnings results from Spirit Airlines Inc (NYSE: SAVE) was released for Sep, 2023. According to the Airlines Company, earnings per share came in at -$1.37, beating analysts’ expectations of -$1.48 by 0.11. This compares to -$0.33 EPS in the same period last year. The net profit margin was -9.84% and return on equity was -33.87% for SAVE. The company reported revenue of $1.26 billion for the quarter, compared to $1.34 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.3 percent. For the current quarter, analysts expect SAVE to generate $1.32B in revenue.
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.
