Spirit Airlines (SAVE) Earning Somewhat Positive Press Coverage, Study Finds

Press coverage about Spirit Airlines (NASDAQ:SAVE) has been trending somewhat positive this week, Accern reports. The research firm identifies positive and negative press coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Spirit Airlines earned a news sentiment score of 0.21 on Accern’s scale. Accern also assigned news coverage about the transportation company an impact score of 45.7435867581592 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

Here are some of the news articles that may have impacted Accern Sentiment Analysis’s analysis:

Several research analysts recently weighed in on SAVE shares. Zacks Investment Research upgraded shares of Spirit Airlines from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Buckingham Research boosted their price objective on shares of Spirit Airlines from $31.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. J P Morgan Chase & Co cut shares of Spirit Airlines from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $37.00 in a research report on Friday, September 15th. ValuEngine upgraded shares of Spirit Airlines from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Cowen reiterated a “hold” rating and set a $37.00 target price on shares of Spirit Airlines in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.75.

Shares of Spirit Airlines (NASDAQ:SAVE) traded up $0.44 during trading on Tuesday, hitting $43.33. 1,766,310 shares of the company’s stock traded hands, compared to its average volume of 1,441,124. The company has a market cap of $3,027.44, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.77 and a beta of 0.75. Spirit Airlines has a 52 week low of $30.32 and a 52 week high of $60.28. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Thursday, October 26th. The transportation company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $687.20 million during the quarter, compared to analysts’ expectations of $686.13 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS. research analysts forecast that Spirit Airlines will post 3.08 earnings per share for the current fiscal year.

Spirit Airlines announced that its Board of Directors has approved a stock repurchase plan on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

In other news, Director H. Mcintyre Gardner purchased 5,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was bought at an average price of $33.78 per share, with a total value of $168,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP John A. Bendoraitis sold 2,340 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $42.92, for a total transaction of $100,432.80. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

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About Spirit Airlines

Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.

Insider Buying and Selling by Quarter for Spirit Airlines (NASDAQ:SAVE)

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