Analysts’ Recent Ratings Updates for Spirit Airlines (SAVE)

A number of research firms have changed their ratings and price targets for Spirit Airlines (NASDAQ: SAVE):

  • 12/3/2018 – Spirit Airlines had its price target raised by analysts at Morgan Stanley from $58.00 to $68.00. They now have an “equal weight” rating on the stock.
  • 12/2/2018 – Spirit Airlines had its price target raised by analysts at JPMorgan Chase & Co. to $59.00.
  • 11/28/2018 – Spirit Airlines was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $82.00 price target on the stock, up previously from $59.00.
  • 11/27/2018 – Spirit Airlines had its price target raised by analysts at Imperial Capital from $90.00 to $98.00. They now have an “outperform” rating on the stock.
  • 11/27/2018 – Spirit Airlines had its price target raised by analysts at Cowen Inc from $55.00 to $60.00. They now have a “market perform” rating on the stock.
  • 11/19/2018 – Spirit Airlines is now covered by analysts at Credit Suisse Group AG. They set a “neutral” rating and a $59.00 price target on the stock.
  • 11/14/2018 – Spirit Airlines had its price target raised by analysts at Morgan Stanley from $53.00 to $58.00. They now have an “equal weight” rating on the stock.
  • 11/12/2018 – Spirit Airlines is now covered by analysts at Goldman Sachs Group Inc. They set a “neutral” rating and a $61.00 price target on the stock.
  • 11/2/2018 – Spirit Airlines was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 10/30/2018 – Spirit Airlines was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $59.00 price target on the stock, up previously from $51.00.
  • 10/29/2018 – Spirit Airlines was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $60.00 price target on the stock. According to Zacks, “Spirit Airlines reported better-than-expected earnings and revenues in the third quarter of 2018. Moreover, both measures improved significantly on a year-over-year basis. Higher passenger revenues and better operating yields aided results. Moreover, unit costs (excluding fuel and special items) decreased 6.8% in the first nine months of the year. For the full year, it expects the same to decrease in the 3.5-4% band year over year. Additionally, the company's projection for fourth-quarter total revenue per available seat mile (TRASM) is encouraging. The positivity surrounding the stock is evident from the Zacks Consensus Estimate for full-year earnings being revised 7.1% upward in the last 60 days. However, escalating fuel prices are estimated to hamper bottom line growth going forward. Notably, fuel costs are expected to be $2.46 per gallon, in the fourth quarter, much higher than $1.97 reported in the fourth quarter of 2017.”
  • 10/26/2018 – Spirit Airlines had its price target raised by analysts at Raymond James from $52.00 to $65.00. They now have a “strong-buy” rating on the stock.
  • 10/26/2018 – Spirit Airlines had its price target raised by analysts at Imperial Capital from $72.00 to $90.00. They now have an “outperform” rating on the stock.
  • 10/26/2018 – Spirit Airlines had its price target raised by analysts at Buckingham Research from $56.00 to $64.00. They now have a “buy” rating on the stock.
  • 10/25/2018 – Spirit Airlines was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 10/24/2018 – Spirit Airlines was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 10/16/2018 – Spirit Airlines was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 10/15/2018 – Spirit Airlines had its price target raised by analysts at Morgan Stanley from $50.00 to $53.00. They now have an “equal weight” rating on the stock.
  • 10/11/2018 – Spirit Airlines had its price target raised by analysts at Imperial Capital from $69.00 to $72.00. They now have an “outperform” rating on the stock.
  • 10/10/2018 – Spirit Airlines was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Shares of Spirit Airlines have outperformed the industry in a year. The company has been benefitting from impressive cost performance driven by operational effciiency. Robust passenger revenues due to the strong demand for air travel is also encouraging. Impressive passnger revenues are expected to boost the top line going forward. The company's total unit revenue view for the third quarter is also encouraging. Total revenue per available seat mile (TRASM) is expected to increase in the range of 2-3% despite adversities. However, high fuel costs are limiting bottom line growth. For the third quarter of 2018, results of which will be out on Oct 25, fuel costs are anticipated to be $2.33 per gallon, compared with $1.75 in the year-ago quarter.”
  • 10/10/2018 – Spirit Airlines was given a new $56.00 price target on by analysts at Buckingham Research. They now have a “buy” rating on the stock.
  • 10/10/2018 – Spirit Airlines had its price target raised by analysts at Deutsche Bank AG from $51.00 to $53.00. They now have a “buy” rating on the stock.
  • 10/8/2018 – Spirit Airlines was given a new $56.00 price target on by analysts at Macquarie. They now have a “buy” rating on the stock.

NASDAQ:SAVE traded up $0.10 during mid-day trading on Monday, reaching $64.22. The company’s stock had a trading volume of 16,658 shares, compared to its average volume of 1,322,663. Spirit Airlines Incorporated has a 1 year low of $34.36 and a 1 year high of $64.23.

Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Wednesday, October 24th. The transportation company reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.03. The firm had revenue of $904.33 million during the quarter, compared to the consensus estimate of $904.05 million.

In other news, Director Robert D. Johnson sold 750 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $47.53, for a total transaction of $35,647.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold 5,816 shares of company stock valued at $290,273 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC purchased a new stake in Spirit Airlines in the 3rd quarter worth approximately $8,580,000. Vanguard Group Inc. lifted its position in shares of Spirit Airlines by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,933,398 shares of the transportation company’s stock valued at $278,692,000 after buying an additional 99,240 shares in the last quarter. Morgan Stanley lifted its position in shares of Spirit Airlines by 91.7% during the 3rd quarter. Morgan Stanley now owns 454,983 shares of the transportation company’s stock valued at $21,371,000 after buying an additional 217,582 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Spirit Airlines by 2.4% during the 3rd quarter. Teachers Advisors LLC now owns 133,848 shares of the transportation company’s stock valued at $6,287,000 after buying an additional 3,125 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Spirit Airlines by 7.9% during the 3rd quarter. Mackenzie Financial Corp now owns 2,064,490 shares of the transportation company’s stock valued at $96,969,000 after buying an additional 151,426 shares in the last quarter.

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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