Spirit Airlines (NYSE:SAVE – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
Several other research firms have also commented on SAVE. JPMorgan Chase & Co. lowered their price target on shares of Spirit Airlines from $28.00 to $10.00 in a report on Monday, May 8th. Susquehanna decreased their price objective on shares of Spirit Airlines from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.50.
Read Our Latest Analysis on Spirit Airlines
Spirit Airlines Stock Up 0.5 %
Spirit Airlines (NYSE:SAVE – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.10). Spirit Airlines had a negative net margin of 8.50% and a negative return on equity of 6.24%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the firm posted ($0.30) EPS. The business’s revenue was up 4.8% on a year-over-year basis. Equities research analysts expect that Spirit Airlines will post 0.41 earnings per share for the current year.
Institutional Trading of Spirit Airlines
Several hedge funds have recently made changes to their positions in the company. Johnson Midwest Financial LLC boosted its position in shares of Spirit Airlines by 75.2% during the 1st quarter. Johnson Midwest Financial LLC now owns 2,050 shares of the company’s stock worth $35,000 after purchasing an additional 880 shares during the period. Belpointe Asset Management LLC acquired a new stake in Spirit Airlines during the 4th quarter worth $36,000. Northwestern Mutual Wealth Management Co. raised its stake in Spirit Airlines by 272.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,119 shares of the company’s stock worth $41,000 after acquiring an additional 1,550 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Spirit Airlines during the 1st quarter worth $43,000. Finally, Impact Partnership Wealth LLC acquired a new stake in Spirit Airlines during the 2nd quarter worth $75,000. Hedge funds and other institutional investors own 70.27% of the company’s stock.
About Spirit Airlines
Spirit Airlines, Inc provides airline services. The company provides front seats, including wider seats with extra legroom, carry-on and checked baggage, assigned seats, travel insurance, and onboard beverages and snacks, as well as hotels, cars, vacation packages, and cruises services. It serves 92 destinations in 16 countries in the United States, Latin America, and the Caribbean.
Featured Articles
- Five stocks we like better than Spirit Airlines
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- Investing in Coffee: 3 Great Strategies to Consider
- Investing in Commodities: What Are They? How to Invest in Them
- 5 Best Stocks to Buy in a Bear Market
- How to Invest in Electric Cars
- 3 Pharmaceutical Stocks to Buy and Hold for the Long Haul
Receive News & Ratings for Spirit Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines and related companies with MarketBeat.com's FREE daily email newsletter.
