Spirit Airlines, Inc. (NASDAQ:SAVE).
Credit Suisse raised the price target and upgraded the stock on June 20 changing the price objective from $44.00 to $55.00 and altering the rating from “Neutral” to “Outperform”. On June 20 the stock rating was upgraded to “Outperform” from “Neutral” and a price target of $55.00 was set in a report from Credit Suisse.
Equity analyst JP Morgan both downgraded the stock and raised the price target on April 20 boosting the price target from $51.50 to $52.00 and moving the rating from “Overweight” to “Neutral”. On April 20 the company was downgraded from “Overweight” to “Neutral” with a current price target of $52.00 in a report issued by JP Morgan.
On April 19 Citigroup made no change to the company rating of “Buy” but raised the price expectation from $57.00 to $60.00.
The company is trading down by -0.17 percent from yesterday’s close. Shares last traded at $41.88 marginally over the 50 day moving average of $39.58 and which is slightly below the 200 day moving average of $43.44. The 50 day moving average was up $2.30 or +5.80% and the 200 day average moved down $-1.56.
Spirit Airlines, Inc.’s P/E ratio is 9.77 and the market value is 2.93B. In the latest earnings report the EPS was $4.28 and is estimated to be $3.91 for the current year with 70,020,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $0.71 and the next full year EPS is projected to be $4.00.
Traders are a little more bullish on Spirit Airlines, Inc. of late if you put credence in the change in short interest. The company experienced a fall in short interest of -0.03% between August 31, 2016 and September 15, 2016. Short shares decreased from 4,124,065 to 4,016,963 over that period. With short interest at 4,016,963 and short average daily volume at 1,184,298, the short-interest ratio is 3.4 and the percentage of shorted shares was 0.06% on September 15.