Stifel Nicolaus Lowers Spirit Airlines, Inc. (SAVE) Price Target to $45.00

Spirit Airlines, Inc. (NASDAQ:SAVE) had its price target dropped by investment analysts at Stifel Nicolaus from $55.00 to $45.00 in a research report issued on Tuesday. The firm presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 34.45% from the company’s current price.

Several other equities analysts have also commented on SAVE. BidaskClub lowered Spirit Airlines from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Bank of America Corporation cut their price target on Spirit Airlines from $75.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, June 30th. Deutsche Bank AG cut their price target on Spirit Airlines from $71.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, July 12th. Morgan Stanley restated an “equal weight” rating and set a $60.00 price target (down previously from $61.00) on shares of Spirit Airlines in a research note on Thursday, July 13th. Finally, Cowen and Company restated a “market perform” rating and set a $59.00 price target on shares of Spirit Airlines in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $46.86.

Shares of Spirit Airlines (NASDAQ SAVE) opened at 33.47 on Tuesday. Spirit Airlines has a one year low of $30.32 and a one year high of $60.40. The stock’s 50 day moving average is $34.09 and its 200-day moving average is $46.53. The company has a market cap of $2.32 billion, a PE ratio of 9.70 and a beta of 0.66.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.11 by $0.03. The firm had revenue of $701.68 million for the quarter, compared to analyst estimates of $702.29 million. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 earnings per share. Equities research analysts expect that Spirit Airlines will post $2.92 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Stifel Nicolaus Lowers Spirit Airlines, Inc. (SAVE) Price Target to $45.00” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://ledgergazette.com/2017/10/17/stifel-nicolaus-lowers-spirit-airlines-inc-save-price-target-to-45-00.html.

In other Spirit Airlines news, Director H. Mcintyre Gardner purchased 5,000 shares of the stock in a transaction on Friday, September 15th. The stock was acquired at an average price of $33.78 per share, with a total value of $168,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in Spirit Airlines by 7.0% in the second 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 in the last quarter. Advisor Group Inc. boosted its holdings in Spirit Airlines by 18.8% in the second quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock worth $113,000 after acquiring an additional 344 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Spirit Airlines in the second quarter worth about $238,000. Ramsey Quantitative Systems acquired a new stake in Spirit Airlines in the second quarter worth about $281,000. Finally, Oppenheimer Asset Management Inc. acquired a new stak

Several other equities analysts have also commented on SAVE. BidaskClub lowered Spirit Airlines from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Bank of America Corporation cut their price target on Spirit Airlines from $75.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, June 30th. Deutsche Bank AG cut their price target on Spirit Airlines from $71.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, July 12th. Morgan Stanley restated an “equal weight” rating and set a $60.00 price target (down previously from $61.00) on shares of Spirit Airlines in a research note on Thursday, July 13th. Finally, Cowen and Company restated a “market perform” rating and set a $59.00 price target on shares of Spirit Airlines in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $46.86.

Shares of Spirit Airlines (NASDAQ SAVE) opened at 33.47 on Tuesday. Spirit Airlines has a one year low of $30.32 and a one year high of $60.40. The stock’s 50 day moving average is $34.09 and its 200-day moving average is $46.53. The company has a market cap of $2.32 billion, a PE ratio of 9.70 and a beta of 0.66.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.11 by $0.03. The firm had revenue of $701.68 million for the quarter, compared to analyst estimates of $702.29 million. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 earnings per share. Equities research analysts expect that Spirit Airlines will post $2.92 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Stifel Nicolaus Lowers Spirit Airlines, Inc. (SAVE) Price Target to $45.00” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://ledgergazette.com/2017/10/17/stifel-nicolaus-lowers-spirit-airlines-inc-save-price-target-to-45-00.html.

In other Spirit Airlines news, Director H. Mcintyre Gardner purchased 5,000 shares of the stock in a transaction on Friday, September 15th. The stock was acquired at an average price of $33.78 per share, with a total value of $168,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in Spirit Airlines by 7.0% in the second 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 in the last quarter. Advisor Group Inc. boosted its holdings in Spirit Airlines by 18.8% in the second quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock worth $113,000 after acquiring an additional 344 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Spirit Airlines in the second quarter worth about $238,000. Ramsey Quantitative Systems acquired a new stake in Spirit Airlines in the second quarter worth about $281,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Spirit Airlines in the first quarter worth about $346,000. 96.99% of the stock is owned by institutional investors and hedge funds.

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)

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