Spirit Airlines Incorporated (NASDAQ:SAVE) Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $47.53, for a total transaction of $35,647.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of SAVE stock traded up $0.22 during mid-day trading on Thursday, reaching $47.73. 27,457 shares of the company’s stock traded hands, compared to its average volume of 1,324,990. Spirit Airlines Incorporated has a 12 month low of $30.32 and a 12 month high of $48.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.
Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Wednesday, July 25th. The transportation company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.02. The firm had revenue of $851.80 million for the quarter, compared to analysts’ expectations of $851.83 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. research analysts expect that Spirit Airlines Incorporated will post 3.08 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of SAVE. Strs Ohio purchased a new position in shares of Spirit Airlines in the 2nd quarter worth about $105,000. Point72 Hong Kong Ltd raised its position in shares of Spirit Airlines by 147.4% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock worth $106,000 after purchasing an additional 1,730 shares during the last quarter. Sei Investments Co. raised its position in shares of Spirit Airlines by 127.9% in the 2nd quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock worth $143,000 after purchasing an additional 2,208 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Spirit Airlines by 286.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,445 shares of the transportation company’s stock worth $162,000 after buying an additional 3,294 shares during the last quarter. Finally, Resources Investment Advisors Inc. raised its position in Spirit Airlines by 50.0% in the 1st quarter. Resources Investment Advisors Inc. now owns 5,394 shares of the transportation company’s stock worth $204,000 after buying an additional 1,797 shares during the last quarter.
Several research firms recently weighed in on SAVE. BidaskClub upgraded shares of Spirit Airlines from a “buy” rating to a “strong-buy” rating in a report on Friday, August 31st. Buckingham Research set a $61.00 price target on shares of Spirit Airlines and gave the company a “buy” rating in a report on Thursday, August 30th. Macquarie boosted their target price on shares of Spirit Airlines from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, August 28th. Cowen boosted their target price on shares of Spirit Airlines from $39.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, July 27th. Finally, Imperial Capital boosted their target price on shares of Spirit Airlines from $53.00 to $61.00 and gave the company an “outperform” rating in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $53.08.
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.
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