Spirit Airlines Incorporated (NASDAQ:SAVE) – Analysts at Imperial Capital boosted their Q4 2019 earnings per share (EPS) estimates for shares of Spirit Airlines in a research note issued to investors on Wednesday, January 9th. Imperial Capital analyst M. Derchin now forecasts that the transportation company will post earnings per share of $1.62 for the quarter, up from their previous forecast of $1.53. Imperial Capital currently has a “Outperform” rating and a $88.00 price target on the stock.
Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Wednesday, October 24th. The transportation company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.03. The company had revenue of $904.33 million during the quarter, compared to analysts’ expectations of $904.05 million.
Several other brokerages have also issued reports on SAVE. Wolfe Research lowered shares of Spirit Airlines from an “outperform” rating to a “hold” rating in a research report on Friday, December 7th. JPMorgan Chase & Co. upped their target price on shares of Spirit Airlines to $59.00 in a research report on Sunday, December 2nd. Morgan Stanley upped their target price on shares of Spirit Airlines from $58.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Monday, December 3rd. Credit Suisse Group upgraded shares of Spirit Airlines from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $59.00 to $77.00 in a research report on Thursday, December 6th. Finally, Cowen raised shares of Spirit Airlines from a “market perform” rating to an “outperform” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Spirit Airlines has a consensus rating of “Buy” and a consensus price target of $60.63.
Shares of NASDAQ:SAVE opened at $60.11 on Thursday. Spirit Airlines has a 52-week low of $34.36 and a 52-week high of $65.35.
Large investors have recently modified their holdings of the company. Strs Ohio bought a new position in shares of Spirit Airlines during the second quarter valued at about $105,000. Point72 Hong Kong Ltd raised its stake in shares of Spirit Airlines by 147.4% during the second quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock valued at $106,000 after acquiring an additional 1,730 shares during the last quarter. Sei Investments Co. raised its stake in shares of Spirit Airlines by 127.9% during the second quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock valued at $143,000 after acquiring an additional 2,208 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Spirit Airlines during the third quarter valued at about $206,000. Finally, Cerebellum GP LLC purchased a new position in shares of Spirit Airlines during the fourth quarter valued at about $260,000.
In other news, SVP Rocky Wiggins sold 4,500 shares of the company’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $50.56, for a total transaction of $227,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John A. Bendoraitis sold 2,000 shares of the company’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $61.11, for a total transaction of $122,220.00. The disclosure for this sale can be found here. Insiders sold 7,250 shares of company stock valued at $398,228 over the last three months. 0.33% of the stock is currently owned by insiders.
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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