Spirit Airlines Incorporated (SAVE) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Spirit Airlines Incorporated (NASDAQ:SAVE) have been given a consensus rating of “Buy” by the nineteen analysts that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $70.00.
SAVE has been the topic of several recent research reports. Credit Suisse Group restated a “buy” rating and set a $83.00 price target on shares of Spirit Airlines in a report on Thursday, February 7th. Goldman Sachs Group upgraded Spirit Airlines from a “neutral” rating to a “buy” rating and increased their price target for the company from $78.00 to $85.00 in a report on Thursday, February 7th. Vertical Research assumed coverage on Spirit Airlines in a report on Monday, February 4th. They set a “buy” rating on the stock. Macquarie set a $81.00 price objective on Spirit Airlines and gave the company a “buy” rating in a research report on Tuesday, January 29th. Finally, Zacks Investment Research downgraded Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th.
In other news, Director Robert D. Johnson sold 750 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $56.68, for a total transaction of $42,510.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Laurie Villa sold 3,800 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $53.69, for a total value of $204,022.00. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
NASDAQ:SAVE traded down $0.39 during midday trading on Friday, hitting $47.82. 114,553 shares of the company traded hands, compared to its average volume of 1,193,591. Spirit Airlines has a 12-month low of $34.36 and a 12-month high of $65.35.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.84 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. The company had revenue of $855.80 million for the quarter, compared to analysts’ expectations of $855.77 million. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s quarterly revenue was up 21.5% on a year-over-year basis.
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.
Recommended Story: What is the formula for calculating total return?
Receive News & Ratings for Spirit Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines and related companies with MarketBeat.com's FREE daily email newsletter.