Spirit Airlines, Inc. (SAVE) Downgraded to “Hold” at Deutsche Bank AG

Deutsche Bank AG lowered shares of Spirit Airlines, Inc. (NASDAQ:SAVE) from a buy rating to a hold rating in a research report report published on Friday morning, Marketbeat Ratings reports. They currently have $38.00 target price on the transportation company’s stock.

SAVE has been the subject of a number of other reports. J P Morgan Chase & Co raised Spirit Airlines from a neutral rating to an overweight rating and cut their price objective for the company from $56.00 to $45.00 in a research report on Tuesday, August 1st. Citigroup Inc. raised Spirit Airlines from a neutral rating to a buy rating and cut their price objective for the company from $65.00 to $52.00 in a research report on Friday, July 28th. TheStreet cut Spirit Airlines from a b- rating to a c+ rating in a research report on Monday, August 7th. ValuEngine cut Spirit Airlines from a buy rating to a hold rating in a research report on Friday, September 1st. Finally, Cowen and Company reaffirmed a market perform rating and issued a $45.00 price objective (down from $59.00) on shares of Spirit Airlines in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Spirit Airlines presently has an average rating of Hold and an average target price of $47.77.

Spirit Airlines (NASDAQ SAVE) opened at 35.02 on Friday. The company has a market capitalization of $2.43 billion, a P/E ratio of 10.15 and a beta of 0.66. The firm has a 50-day moving average price of $34.26 and a 200 day moving average price of $47.02. Spirit Airlines has a 12 month low of $30.32 and a 12 month high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.03. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The company had revenue of $701.68 million during the quarter, compared to analysts’ expectations of $702.29 million. During the same period last year, the firm posted $1.11 earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. Analysts expect that Spirit Airlines will post $2.96 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Spirit Airlines, Inc. (SAVE) Downgraded to “Hold” at Deutsche Bank AG” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://ledgergazette.com/2017/10/10/spirit-airlines-inc-save-downgraded-to-hold-at-deutsche-bank-ag.html.

In other news, Director H. Mcintyre Gardner purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was acquired at an average cost of $33.78 per share, with a total value of $168,900.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its stake in Spirit Airlines by 7.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after acquiring an additional 141 shares during the period. Advisor Group Inc. increased its stake in Spirit Airlines by 18.8% during the 2nd quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock worth $113,000 after acquiring an additional 344 shares during the period. Intact Investment Management Inc. bought a new position in Spirit Airlines during the 2nd quarter worth $238,000. Ramsey Quantitative Systems bought a new position in Spirit Airlines during the 2nd quarter worth $281,000. Finally, Opp

SAVE has been the subject of a number of other reports. J P Morgan Chase & Co raised Spirit Airlines from a neutral rating to an overweight rating and cut their price objective for the company from $56.00 to $45.00 in a research report on Tuesday, August 1st. Citigroup Inc. raised Spirit Airlines from a neutral rating to a buy rating and cut their price objective for the company from $65.00 to $52.00 in a research report on Friday, July 28th. TheStreet cut Spirit Airlines from a b- rating to a c+ rating in a research report on Monday, August 7th. ValuEngine cut Spirit Airlines from a buy rating to a hold rating in a research report on Friday, September 1st. Finally, Cowen and Company reaffirmed a market perform rating and issued a $45.00 price objective (down from $59.00) on shares of Spirit Airlines in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Spirit Airlines presently has an average rating of Hold and an average target price of $47.77.

Spirit Airlines (NASDAQ SAVE) opened at 35.02 on Friday. The company has a market capitalization of $2.43 billion, a P/E ratio of 10.15 and a beta of 0.66. The firm has a 50-day moving average price of $34.26 and a 200 day moving average price of $47.02. Spirit Airlines has a 12 month low of $30.32 and a 12 month high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.03. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The company had revenue of $701.68 million during the quarter, compared to analysts’ expectations of $702.29 million. During the same period last year, the firm posted $1.11 earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. Analysts expect that Spirit Airlines will post $2.96 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Spirit Airlines, Inc. (SAVE) Downgraded to “Hold” at Deutsche Bank AG” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://ledgergazette.com/2017/10/10/spirit-airlines-inc-save-downgraded-to-hold-at-deutsche-bank-ag.html.

In other news, Director H. Mcintyre Gardner purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was acquired at an average cost of $33.78 per share, with a total value of $168,900.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its stake in Spirit Airlines by 7.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after acquiring an additional 141 shares during the period. Advisor Group Inc. increased its stake in Spirit Airlines by 18.8% during the 2nd quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock worth $113,000 after acquiring an additional 344 shares during the period. Intact Investment Management Inc. bought a new position in Spirit Airlines during the 2nd quarter worth $238,000. Ramsey Quantitative Systems bought a new position in Spirit Airlines during the 2nd quarter worth $281,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Spirit Airlines during the 1st quarter worth $346,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

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.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

Receive News & Ratings for Spirit Airlines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply