Spirit Airlines, Inc. (NYSE:SAVE) Receives $31.14 Consensus Target Price from Brokerages

Spirit Airlines, Inc. (NYSE:SAVEGet Rating) has earned an average recommendation of “Buy” from the fourteen research firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $30.85.

Separately, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Spirit Airlines from $38.00 to $27.00 in a report on Thursday, May 5th.

A number of institutional investors and hedge funds have recently made changes to their positions in SAVE. Apollo Management Holdings L.P. purchased a new stake in Spirit Airlines during the 3rd quarter valued at $76,775,000. Dimensional Fund Advisors LP grew its position in shares of Spirit Airlines by 37.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,637,683 shares of the company’s stock valued at $79,557,000 after acquiring an additional 997,254 shares during the period. Voloridge Investment Management LLC grew its position in shares of Spirit Airlines by 435.9% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,152,289 shares of the company’s stock valued at $29,890,000 after acquiring an additional 937,266 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Spirit Airlines by 317.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,230,685 shares of the company’s stock valued at $26,890,000 after acquiring an additional 935,971 shares during the period. Finally, Versor Investments LP grew its position in shares of Spirit Airlines by 4,987.0% during the 1st quarter. Versor Investments LP now owns 723,882 shares of the company’s stock valued at $15,831,000 after acquiring an additional 709,652 shares during the period. Institutional investors and hedge funds own 62.67% of the company’s stock.

Shares of SAVE traded down $0.10 during mid-day trading on Friday, reaching $18.99. The company had a trading volume of 3,008,220 shares, compared to its average volume of 5,714,117. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a 50-day moving average price of $22.39 and a 200 day moving average price of $22.75. Spirit Airlines has a 52 week low of $15.92 and a 52 week high of $37.19. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -4.18 and a beta of 1.41.

Spirit Airlines (NYSE:SAVEGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.02). Spirit Airlines had a negative return on equity of 19.70% and a negative net margin of 14.63%. The firm had revenue of $967.30 million during the quarter, compared to analysts’ expectations of $958.36 million. During the same quarter in the previous year, the firm earned ($2.48) earnings per share. Spirit Airlines’s revenue was up 109.7% on a year-over-year basis. As a group, research analysts forecast that Spirit Airlines will post -0.53 earnings per share for the current fiscal year.

About Spirit Airlines (Get Rating)

Spirit Airlines, Inc provides airline services. It serves 85 destinations in 16 countries in the United States, Latin America, and the Caribbean. As of December 31, 2021, the company had a fleet of 173 Airbus single-aisle aircraft. It sells tickets through its call centers and airport ticket counters, as well as online through spirit.com; and through various third parties, including online, traditional travel agents, and electronic global distribution systems.

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Analyst Recommendations for Spirit Airlines (NYSE:SAVE)

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