Several brokerages have updated their recommendations and price targets on shares of Spirit Airlines (NYSE: SAVE) in the last few weeks:
- 7/23/2024 – Spirit Airlines had its price target lowered by analysts at Citigroup Inc. from $3.50 to $2.75. They now have a “sell” rating on the stock.
- 7/17/2024 – Spirit Airlines had its price target lowered by analysts at Bank of America Co. from $3.25 to $2.75. They now have an “underperform” rating on the stock.
- 7/17/2024 – Spirit Airlines was downgraded by analysts at TD Cowen from a “hold” rating to a “sell” rating. They now have a $2.00 price target on the stock, down previously from $3.00.
- 7/16/2024 – Spirit Airlines had its price target lowered by analysts at Susquehanna from $3.00 to $2.50. They now have a “negative” rating on the stock.
- 7/10/2024 – Spirit Airlines had its price target lowered by analysts at Barclays PLC from $4.00 to $3.00. They now have an “underweight” rating on the stock.
- 7/8/2024 – Spirit Airlines was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “sell” rating. They now have a $2.00 price target on the stock, down previously from $3.00.
- 7/5/2024 – Spirit Airlines was downgraded by analysts at Raymond James from a “market perform” rating to an “underperform” rating.
Spirit Airlines Stock Performance
Shares of SAVE stock traded up $0.16 during trading hours on Tuesday, reaching $3.03. 3,808,610 shares of the company’s stock were exchanged, compared to its average volume of 10,691,967. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50 day moving average is $3.42 and its two-hundred day moving average is $4.70. The company has a market cap of $331.79 million, a P/E ratio of -0.68 and a beta of 1.40. Spirit Airlines, Inc. has a 1 year low of $2.69 and a 1 year high of $18.52.
Spirit Airlines (NYSE:SAVE – Get Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported ($1.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.45) by ($0.01). The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Spirit Airlines had a negative return on equity of 34.64% and a negative net margin of 9.21%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.82) EPS. Equities research analysts anticipate that Spirit Airlines, Inc. will post -4.79 EPS for the current fiscal year.
Institutional Trading of Spirit Airlines
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.
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