Spirit Airlines, Inc. (NYSE:SAVE) Given Average Recommendation of “Strong Sell” by Analysts

Shares of Spirit Airlines, Inc. (NYSE:SAVE) have been given a consensus rating of “Strong Sell” by the nine research firms that are presently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $2.00.

Several equities analysts have commented on SAVE shares. Susquehanna cut their price objective on Spirit Airlines from $2.25 to $1.50 and set a “negative” rating on the stock in a research report on Wednesday, October 9th. Barclays cut their price target on shares of Spirit Airlines from $3.00 to $0.50 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Finally, TD Cowen decreased their price objective on shares of Spirit Airlines from $2.00 to $1.00 and set a “sell” rating for the company in a report on Wednesday, November 13th.

Spirit Airlines Stock Down 5.6 %

Shares of NYSE:SAVE opened at $1.02 on Friday. The firm has a market capitalization of $111.71 million, a PE ratio of -0.17 and a beta of 1.37. The business has a 50 day simple moving average of $1.72 and a two-hundred day simple moving average of $2.53. Spirit Airlines has a 1 year low of $1.02 and a 1 year high of $17.02. The company has a debt-to-equity ratio of 3.86, a current ratio of 0.94 and a quick ratio of 0.94.

Institutional Investors Weigh In On Spirit Airlines

Several large investors have recently modified their holdings of SAVE. U S Global Investors Inc. bought a new position in shares of Spirit Airlines during the third quarter valued at approximately $28,816,000. Charles Schwab Investment Management Inc. boosted its position in Spirit Airlines by 8.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 931,241 shares of the company’s stock valued at $2,235,000 after acquiring an additional 74,753 shares in the last quarter. Federated Hermes Inc. boosted its position in Spirit Airlines by 331.2% during the 2nd quarter. Federated Hermes Inc. now owns 432,494 shares of the company’s stock valued at $1,583,000 after acquiring an additional 332,188 shares in the last quarter. Roman Butler Fullerton & Co. increased its holdings in shares of Spirit Airlines by 48.5% in the 3rd quarter. Roman Butler Fullerton & Co. now owns 264,429 shares of the company’s stock valued at $635,000 after acquiring an additional 86,396 shares during the period. Finally, XTX Topco Ltd raised its position in shares of Spirit Airlines by 826.8% in the 3rd quarter. XTX Topco Ltd now owns 204,119 shares of the company’s stock worth $490,000 after acquiring an additional 182,094 shares in the last quarter. Institutional investors own 58.73% of the company’s stock.

Spirit Airlines Company Profile

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.