ValuEngine cut shares of Spirit Airlines, Inc. (NASDAQ:SAVE) from a buy rating to a hold rating in a research report released on Friday morning.

A number of other equities analysts have also issued reports on the stock. Wolfe Research raised shares of Spirit Airlines from a market perform rating to an outperform rating in a research report on Friday, June 2nd. BidaskClub lowered shares of Spirit Airlines from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Bank of America Corporation decreased their price target on shares of 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 decreased their price target on shares of Spirit Airlines from $71.00 to $69.00 and set a buy rating on the stock in a research note on Wednesday, July 12th. Finally, Morgan Stanley reiterated an equal weight rating and set a $56.00 price target (down previously from $60.00) on shares of Spirit Airlines in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Spirit Airlines presently has an average rating of Hold and a consensus price target of $52.63.

Shares of Spirit Airlines (NASDAQ:SAVE) opened at 34.03 on Friday. Spirit Airlines has a 12-month low of $33.67 and a 12-month high of $60.40. The company’s 50-day moving average is $40.71 and its 200-day moving average is $50.26. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 9.86 and a beta of 0.62.

Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The business 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 firm posted $1.11 earnings per share. Spirit Airlines’s revenue was up 20.1% compared to the same quarter last year. On average, equities analysts forecast that Spirit Airlines will post $3.61 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of the company. Camarda Financial Advisors LLC boosted its stake in shares of Spirit Airlines by 0.3% in the 2nd quarter. Camarda Financial Advisors LLC now owns 32,224 shares of the transportation company’s stock valued at $1,664,000 after purchasing an additional 101 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Spirit Airlines by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock valued at $112,000 after purchasing an additional 141 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Spirit Airlines by 0.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 96,711 shares of the transportation company’s stock valued at $5,132,000 after purchasing an additional 246 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Spirit Airlines by 4.6% in the 2nd quarter. Aperio Group LLC now owns 7,260 shares of the transportation company’s stock valued at $375,000 after purchasing an additional 322 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Spirit Airlines by 3.4% in the 1st quarter. Amalgamated Bank now owns 10,252 shares of the transportation company’s stock valued at $544,000 after purchasing an additional 333 shares in the last quarter. Institutional investors own 97.00% of the company’s stock.

Spirit Airlines Company Profile

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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Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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