November 30, 2016 - By Ellis Scott · 0 Comments
Spirit Airlines Inc (NASDAQ:SAVE) institutional sentiment increased to 1.43 in 2016 Q2. Its up 0.56, from 0.87 in 2016Q1. The ratio is more positive, as 111 institutional investors increased and started new positions, while 127 sold and decreased equity positions in Spirit Airlines Inc. The institutional investors in our partner’s database now own: 67.97 million shares, up from 66.74 million shares in 2016Q1. Also, the number of institutional investors holding Spirit Airlines Inc in their top 10 positions was flat from 7 to 7 for the same number . Sold All: 45 Reduced: 82 Increased: 76 New Position: 35.
Spirit Airlines, Inc. is an airline company. The company has a market cap of $3.73 billion. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. It has a 13.31 P/E ratio. The Company’s ultra-low-cost carrier business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket.
The stock increased 1.83% or $0.98 during the last trading session, hitting $54.52. Spirit Airlines Incorporated (NASDAQ:SAVE) has risen 17.91% since April 27, 2016 and is uptrending. It has outperformed by 12.68% the S&P500.
Analysts await Spirit Airlines Incorporated (NASDAQ:SAVE) to report earnings on February, 14. They expect $0.66 earnings per share, down 35.29% or $0.36 from last year’s $1.02 per share. SAVE’s profit will be $45.15M for 20.65 P/E if the $0.66 EPS becomes a reality. After $1.24 actual earnings per share reported by Spirit Airlines Incorporated for the previous quarter, Wall Street now forecasts -46.77% negative EPS growth.
According to Zacks Investment Research, “Spirit Airlines Inc. operates an airline based in Fort Lauderdale providing travel opportunity principally to and from South Florida, the Caribbean and Latin America. Spirit Airlines Inc. is based in Miramar, Florida.”
Teewinot Capital Advisers L.L.C. holds 6.21% of its portfolio in Spirit Airlines Incorporated for 169,187 shares. Muhlenkamp & Co Inc owns 192,555 shares or 3.37% of their US portfolio. Moreover, Rockshelter Capital Management Llc has 3.15% invested in the company for 204,250 shares. The New York-based New Amsterdam Partners Llc Ny has invested 2.57% in the stock. Wasatch Advisors Inc, a Utah-based fund reported 3.14 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 5 sales for $442,140 net activity.
Ratings analysis reveals 58% of Spirit Airlines’s analysts are positive. Out of 12 Wall Street analysts rating Spirit Airlines, 7 give it “Buy”, 0 “Sell” rating, while 5 recommend “Hold”. The lowest target is $39 while the high is $75. The stock’s average target of $59.42 is 8.99% above today’s ($54.52) share price. SAVE was included in 34 notes of analysts from August 18, 2015. The stock of Spirit Airlines Incorporated (NASDAQ:SAVE) earned “Neutral” rating by Citigroup on Friday, September 25. As per Tuesday, November 22, the company rating was maintained by Imperial Capital. The rating was downgraded by Morgan Stanley on Friday, October 16 to “Equal-Weight”. JP Morgan downgraded Spirit Airlines Incorporated (NASDAQ:SAVE) rating on Wednesday, April 20. JP Morgan has “Neutral” rating and $52 price target. The stock has “Outperform” rating given by Imperial Capital on Thursday, September 29. On Tuesday, April 19 the stock rating was maintained by Citigroup with “Buy”. The firm earned “Outperform” rating on Monday, June 20 by Credit Suisse. The firm earned “Outperform” rating on Friday, September 25 by Cowen & Co. The company was downgraded on Tuesday, August 18 by Vetr. Stifel Nicolaus upgraded the shares of SAVE in a report on Tuesday, December 22 to “Buy” rating.
Spirit Airlines, Inc., incorporated on March 8, 1994, is an airline company. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. The Company’s ultra-low-cost carrier (ULCC) business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket. The Firm offers a range of optional services, allowing clients to save by paying only for the options they choose such as bags, advance seat assignments and refreshments. The Company’s route network includes approximately 151 markets throughout North America, Central America, South America and the Caribbean. The Firm operates international services to Aruba, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Peru and St. Maarten, as well as Puerto Rico and the United States Virgin Islands.
More notable recent Spirit Airlines Incorporated (NASDAQ:SAVE) news were published by: Fool.com which released: “The Airbus A320neo Arrives at Spirit Airlines Incorporated” on October 16, 2016, also Fool.com with their article: “Spirit Airlines Incorporated’s Revenue Recovery Takes a Big Step Forward” published on October 18, 2016, Fool.com published: “Where Will Spirit Airlines Incorporated Grow Next?” on June 08, 2016. More interesting news about Spirit Airlines Incorporated (NASDAQ:SAVE) were released by: Fool.com and their article: “Investors Don’t Understand Spirit Airlines Incorporated” published on November 03, 2015 as well as Fool.com‘s news article titled: “1 Piece of Great News for Spirit Airlines Incorporated” with publication date: December 22, 2015.
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By Ellis Scott