Spirit Airlines Incorporated (NASDAQ:SAVE) Receives Consensus Recommendation of “Hold” from Brokerages

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Spirit Airlines Incorporated (NASDAQ:SAVE) has been given a consensus recommendation of “Hold” by the nineteen brokerages that are currently covering the stock, Marketbeat reports. Eleven analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $57.29.

Several research firms have commented on SAVE. Buckingham Research downgraded Spirit Airlines from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $69.00 to $41.00 in a report on Monday, September 9th. Morgan Stanley set a $38.00 target price on Spirit Airlines and gave the company a “hold” rating in a research report on Monday, September 9th. TheStreet cut Spirit Airlines from a “b-” rating to a “c” rating in a research report on Wednesday, August 21st. Credit Suisse Group cut Spirit Airlines from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $51.00 in a research report on Friday, July 26th. Finally, BidaskClub cut Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th.

SAVE traded down $0.37 during trading on Thursday, hitting $37.92. 896,245 shares of the stock were exchanged, compared to its average volume of 1,129,166. The firm has a 50 day simple moving average of $38.74 and a 200 day simple moving average of $48.11. Spirit Airlines has a 1 year low of $34.53 and a 1 year high of $65.35.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.64 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.11 earnings per share.

In other Spirit Airlines news, insider Edward M. Christie III acquired 2,375 shares of the stock in a transaction dated Tuesday, July 30th. The stock was purchased at an average price of $41.93 per share, with a total value of $99,583.75. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director H. Mcintyre Gardner acquired 2,500 shares of the stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average cost of $41.92 per share, with a total value of $104,800.00. The disclosure for this purchase can be found here. Insiders bought a total of 5,051 shares of company stock valued at $211,885 in the last three months. Insiders own 0.33% of the company’s stock.

Several institutional investors have recently bought and sold shares of SAVE. Geode Capital Management LLC boosted its position in shares of Spirit Airlines by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 748,803 shares of the transportation company’s stock worth $43,370,000 after purchasing an additional 53,696 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in Spirit Airlines in the 1st quarter worth $25,000. Robeco Institutional Asset Management B.V. purchased a new position in Spirit Airlines in the 1st quarter worth $7,759,000. Comerica Bank raised its stake in Spirit Airlines by 1.8% in the 1st quarter. Comerica Bank now owns 64,911 shares of the transportation company’s stock worth $3,690,000 after acquiring an additional 1,134 shares during the last quarter. Finally, Boston Partners raised its stake in Spirit Airlines by 13.1% in the 1st quarter. Boston Partners now owns 55,805 shares of the transportation company’s stock worth $2,950,000 after acquiring an additional 6,445 shares during the last quarter.

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.

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Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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