Deutsche Bank Lowers Spirit Airlines (NASDAQ:SAVE) to Hold
Deutsche Bank lowered shares of Spirit Airlines (NASDAQ:SAVE) from a buy rating to a hold rating in a report published on Thursday morning, BenzingaRatingsTable reports. They currently have $55.00 target price on the transportation company’s stock, down from their prior target price of $79.00.
Other research analysts have also issued reports about the company. Raymond James set a $33.00 price target on LKQ and gave the stock a buy rating in a research report on Friday, April 26th. Morgan Stanley boosted their price target on United Technologies from $155.00 to $164.00 and gave the stock an overweight rating in a research report on Monday, May 20th. Imperial Capital reissued an outperform rating and issued a $78.00 price target (down from $83.00) on shares of Spirit Airlines in a research report on Friday, April 26th. Macquarie set a $79.00 price target on Alaska Air Group and gave the stock a buy rating in a research report on Friday, July 12th. Finally, Bank of America raised Air Products & Chemicals from an underperform rating to a neutral rating and upped their target price for the company from $170.00 to $215.00 in a research report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Spirit Airlines has a consensus rating of Buy and an average price target of $65.07.
Shares of SAVE traded up $1.55 during trading hours on Thursday, hitting $43.56. The company had a trading volume of 3,778,873 shares, compared to its average volume of 1,160,619. Spirit Airlines has a one year low of $41.98 and a one year high of $65.35. The business’s fifty day moving average price is $49.74.
In other news, SVP Laurie Villa sold 3,800 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $53.69, for a total value of $204,022.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert D. Johnson sold 750 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $45.97, for a total value of $34,477.50. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
Several hedge funds have recently made changes to their positions in SAVE. Quadrant Capital Group LLC acquired a new position in shares of Spirit Airlines in the first quarter valued at about $25,000. Meridian Wealth Management LLC acquired a new position in shares of Spirit Airlines in the first quarter valued at about $26,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Spirit Airlines in the second quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Spirit Airlines by 148.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,580 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 944 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Spirit Airlines in the fourth quarter valued at about $239,000.
Spirit Airlines Company Profile
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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