Spirit Airlines, Inc. (NASDAQ:SAVE).
Citigroup raised the price target and downgraded the stock on November 18 changing the price target from $56.00 to $61.00 and setting the rating at “Neutral” which had previously been “Buy”. On November 18 the company was downgraded from “Buy” to “Neutral” and a price target of $61.00 was set by Citigroup.
July 19 investment analysts at Citigroup made no change to the stock rating of “Buy” and lowered the price expectation from $60.00 to $56.00. On June 20 the stock rating was upgraded to “Outperform” from “Neutral” with a current price target of $55.00 in a report issued by Credit Suisse.
Equity analyst Credit Suisse upgraded the stock and raised the price target on June 20 boosting the price target from $44.00 to $55.00 and raising the rating from “Neutral” to “Outperform”.
The company is now up by 1.87 percent from yesterday’s close. Shares last traded at $53.26 a tad below $53.88, the 50 day moving average and marginally under the 200 day moving average of $54.52. The 50 day moving average went down by -1.2436% whereas the 200 day moving average was down $-1.31 or -2.4039%.
Spirit Airlines, Inc., launched on March 8, 1994, is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, the Business’s 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, the Company had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft. A320 family aircraft 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. As of December 31, 2016, its fleet consisted of 29 A319s, 45 A320ceos, five A320neos and 16 A321ceos..
Spirit Airlines, Inc. currently has a P/E ratio of 15.8135 and the market cap is 3.69B. As of the last earnings report the EPS was $3.37 and is estimated to be $4.18 for the current year with 69,369,000 shares outstanding. Analysts expect next quarter’s EPS to be $1.55 and the next full year EPS is anticipated to be $4.86.
Investors are a little more bearish on shares of Spirit Airlines, Inc. if you consider the rise in short interest. The stock recorded a rise in short interest of 6.08% as of May 15, 2017 from the last reporting period. Short shares increased from 2,632,776 to 2,792,720 over that timeframe. With short interest at 2,792,720 and short average daily volume at 942,563, the short-interest ratio is 3.0 and the percentage of shorted shares was 0.04% on May 15.