Spirit Airlines, Inc. (SAVE) Earns “Hold” Rating from Cowen and Company

Cowen and Company reiterated their hold rating on shares of Spirit Airlines, Inc. (NASDAQ:SAVE) in a research note published on Tuesday morning. Cowen and Company currently has a $37.00 price objective on the transportation company’s stock.

SAVE has been the topic of a number of other research reports. J P Morgan Chase & Co upgraded shares of Spirit Airlines from a neutral rating to an overweight rating and cut their price objective for the stock from $56.00 to $45.00 in a report on Tuesday, August 1st. Citigroup Inc. upgraded shares of Spirit Airlines from a neutral rating to a buy rating and cut their price objective for the stock from $65.00 to $52.00 in a report on Friday, July 28th. TheStreet lowered shares of Spirit Airlines from a b- rating to a c+ rating in a report on Monday, August 7th. ValuEngine lowered shares of Spirit Airlines from a buy rating to a hold rating in a report on Friday, September 1st. Finally, BidaskClub lowered shares of Spirit Airlines from a hold rating to a sell rating in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $45.60.

Shares of Spirit Airlines (NASDAQ:SAVE) traded up 0.39% during mid-day trading on Tuesday, hitting $33.81. The stock had a trading volume of 1,115,973 shares. The stock has a market cap of $2.35 billion, a P/E ratio of 9.80 and a beta of 0.66. The company’s 50 day moving average price is $34.01 and its 200 day moving average price is $46.09. Spirit Airlines has a 12-month low of $30.32 and a 12-month high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The firm had revenue of $701.68 million for the quarter, compared to analyst estimates of $702.29 million. During the same quarter in the previous year, the business posted $1.11 EPS. The firm’s revenue was up 20.1% compared to the same quarter last year. Equities research analysts predict that Spirit Airlines will post $2.99 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Spirit Airlines, Inc. (SAVE) Earns “Hold” Rating from Cowen and Company” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/20/spirit-airlines-inc-save-earns-hold-rating-from-cowen-and-company.html.

In other Spirit Airlines news, Director H. Mcintyre Gardner acquired 5,000 shares of the stock in a transaction that occurred 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 filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Several large investors have recently made changes to their positions in SAVE. BlackRock Inc. grew its position in shares of Spirit Airlines by 7,002.6% during the 1st quarter. BlackRock Inc. now owns 2,691,469 shares of the transportation company’s stock valued at $142,838,000 after buying an additional 2,653,575 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in shares of Spirit Airlines during the 2nd quarter valued at about $16,711,000. State of New Jersey Common Pension Fund D grew its position in shares of Spirit Airlines by 127.3% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 500,000 shares of the transportation company’s stock valued at $25,826,000 after buying an additional 280,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Spirit Airlines by 16.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,621,926 shares of the transportation company’s stock valued at $86,073,000 after buying an additional 234,734 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Spirit Airlines by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 5,364,771 shares of the transportation company’s stock valued at $284,708,000 after buying an additional 228,176 shares during the last

SAVE has been the topic of a number of other research reports. J P Morgan Chase & Co upgraded shares of Spirit Airlines from a neutral rating to an overweight rating and cut their price objective for the stock from $56.00 to $45.00 in a report on Tuesday, August 1st. Citigroup Inc. upgraded shares of Spirit Airlines from a neutral rating to a buy rating and cut their price objective for the stock from $65.00 to $52.00 in a report on Friday, July 28th. TheStreet lowered shares of Spirit Airlines from a b- rating to a c+ rating in a report on Monday, August 7th. ValuEngine lowered shares of Spirit Airlines from a buy rating to a hold rating in a report on Friday, September 1st. Finally, BidaskClub lowered shares of Spirit Airlines from a hold rating to a sell rating in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $45.60.

Shares of Spirit Airlines (NASDAQ:SAVE) traded up 0.39% during mid-day trading on Tuesday, hitting $33.81. The stock had a trading volume of 1,115,973 shares. The stock has a market cap of $2.35 billion, a P/E ratio of 9.80 and a beta of 0.66. The company’s 50 day moving average price is $34.01 and its 200 day moving average price is $46.09. Spirit Airlines has a 12-month low of $30.32 and a 12-month high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The firm had revenue of $701.68 million for the quarter, compared to analyst estimates of $702.29 million. During the same quarter in the previous year, the business posted $1.11 EPS. The firm’s revenue was up 20.1% compared to the same quarter last year. Equities research analysts predict that Spirit Airlines will post $2.99 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Spirit Airlines, Inc. (SAVE) Earns “Hold” Rating from Cowen and Company” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/20/spirit-airlines-inc-save-earns-hold-rating-from-cowen-and-company.html.

In other Spirit Airlines news, Director H. Mcintyre Gardner acquired 5,000 shares of the stock in a transaction that occurred 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 filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Several large investors have recently made changes to their positions in SAVE. BlackRock Inc. grew its position in shares of Spirit Airlines by 7,002.6% during the 1st quarter. BlackRock Inc. now owns 2,691,469 shares of the transportation company’s stock valued at $142,838,000 after buying an additional 2,653,575 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in shares of Spirit Airlines during the 2nd quarter valued at about $16,711,000. State of New Jersey Common Pension Fund D grew its position in shares of Spirit Airlines by 127.3% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 500,000 shares of the transportation company’s stock valued at $25,826,000 after buying an additional 280,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Spirit Airlines by 16.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,621,926 shares of the transportation company’s stock valued at $86,073,000 after buying an additional 234,734 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Spirit Airlines by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 5,364,771 shares of the transportation company’s stock valued at $284,708,000 after buying an additional 228,176 shares during the last quarter. 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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