Deutsche Bank AG Boosts Spirit Airlines Incorporated (SAVE) Price Target to $46.00

Spirit Airlines Incorporated (NASDAQ:SAVE) had its price objective hoisted by Deutsche Bank AG from $44.00 to $46.00 in a research note issued to investors on Friday, April 14th. Deutsche Bank AG currently has a buy rating on the transportation company’s stock.

A number of other brokerages have also issued reports on SAVE. Zacks Investment Research upgraded shares of Spirit Airlines from a hold rating to a buy rating and set a $60.00 price target on the stock in a research note on Thursday, March 2nd. Imperial Capital reiterated an outperform rating on shares of Spirit Airlines in a research note on Friday, March 17th. Morgan Stanley reiterated an equal weight rating on shares of Spirit Airlines in a research note on Friday, December 16th. Cowen and Company lowered their target price on shares of Spirit Airlines from $59.00 to $58.00 and set a market perform rating on the stock in a research report on Monday, March 20th. Finally, Barclays PLC assumed coverage on shares of Spirit Airlines in a research report on Thursday, December 15th. They set an equal weight rating and a $67.00 target price on the stock. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Spirit Airlines presently has a consensus rating of Buy and an average price target of $61.05.

Shares of Spirit Airlines (NASDAQ:SAVE) traded down 0.13% during mid-day trading on Friday, hitting $53.69. The company had a trading volume of 630,526 shares. The company has a 50-day moving average price of $55.50 and a 200-day moving average price of $54.34. Spirit Airlines has a 1-year low of $37.17 and a 1-year high of $60.40. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 15.96 and a beta of 0.78.

Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Friday, April 28th. The transportation company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Spirit Airlines had a net margin of 11.41% and a return on equity of 22.22%. The business had revenue of $591.80 million during the quarter, compared to analysts’ expectations of $591.31 million. During the same period in the prior year, the company earned $1.01 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts anticipate that Spirit Airlines will post $4.19 EPS for the current year.

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In other news, VP Edmundo Miranda sold 3,131 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $59.39, for a total value of $185,950.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. James Investment Research Inc. acquired a new stake in Spirit Airlines during the first quarter valued at about $137,000. Glassman Wealth Services purchased a new stake in Spirit Airlines during the fourth quarter worth $180,000. Quadrature Capital Ltd purchased a new stake in Spirit Airlines during the third quarter worth $211,000. Pinnacle Associates Ltd. purchased a new stake in Spirit Airlines during the fourth quarter worth $212,000. Finally, High Falls Advisors Inc purchased a new stake in Spirit Airlines during the third quarter worth $214,000. 96.91% of the stock is owned by institutional investors.

About Spirit Airlines

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.

5 Day Chart for NASDAQ:SAVE

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