Shares of Spirit Airlines, Inc. (NYSE:SAVE – Get Free Report) have been given a consensus recommendation of “Strong Sell” by the nine analysts that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $2.50.
SAVE has been the topic of a number of recent analyst reports. Raymond James downgraded Spirit Airlines from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. TD Cowen lowered shares of Spirit Airlines from a “hold” rating to a “sell” rating and dropped their price target for the company from $3.00 to $2.00 in a research report on Wednesday, July 17th. Bank of America decreased their price objective on shares of Spirit Airlines from $3.25 to $2.75 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Citigroup dropped their target price on shares of Spirit Airlines from $3.50 to $2.75 and set a “sell” rating on the stock in a report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Spirit Airlines from a “hold” rating to a “sell” rating and cut their target price for the stock from $3.00 to $2.00 in a research report on Monday, July 8th.
View Our Latest Stock Report on Spirit Airlines
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Spirit Airlines Stock Down 3.3 %
Spirit Airlines stock opened at $1.47 on Friday. The firm’s 50 day moving average price is $2.35 and its two-hundred day moving average price is $3.13. The firm has a market cap of $160.97 million, a PE ratio of -0.33 and a beta of 1.38. Spirit Airlines has a twelve month low of $1.40 and a twelve month high of $17.49. The company has a debt-to-equity ratio of 3.86, a quick ratio of 0.94 and a current ratio of 0.94.
Spirit Airlines (NYSE:SAVE – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($1.44) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.14). The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.30 billion. Spirit Airlines had a negative return on equity of 57.87% and a negative net margin of 13.20%. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. On average, research analysts predict that Spirit Airlines will post -6.96 EPS for the current fiscal year.
Spirit Airlines Company Profile
Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.
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