Spirit Airlines (NYSE:SAVE) Hits New 1-Year Low at $5.80

Spirit Airlines, Inc. (NYSE:SAVEGet Free Report)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $5.80 and last traded at $7.01, with a volume of 14032599 shares changing hands. The stock had previously closed at $14.97.

Analysts Set New Price Targets

SAVE has been the topic of a number of analyst reports. Seaport Res Ptn downgraded Spirit Airlines from a “buy” rating to a “neutral” rating in a research report on Wednesday. Citigroup lowered Spirit Airlines from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $13.00 to $4.00 in a report on Thursday. Bank of America initiated coverage on shares of Spirit Airlines in a report on Wednesday. They issued an “underperform” rating and a $5.00 price objective for the company. Finally, Susquehanna reaffirmed a “negative” rating and set a $5.00 target price (down from $15.00) on shares of Spirit Airlines in a research note on Wednesday. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $8.80.

View Our Latest Report on Spirit Airlines

Spirit Airlines Price Performance

The stock has a 50-day simple moving average of $14.12 and a 200 day simple moving average of $15.54. The company has a market cap of $669.76 million, a PE ratio of -1.25 and a beta of 1.36. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.31.

Spirit Airlines (NYSE:SAVEGet Free Report) last issued its quarterly earnings data on Thursday, October 26th. The company reported ($1.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.47) by $0.10. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. Spirit Airlines had a negative net margin of 9.84% and a negative return on equity of 13.33%. Spirit Airlines’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. Equities analysts expect that Spirit Airlines, Inc. will post -3.46 EPS for the current year.

Spirit Airlines Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Thursday, January 25th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, January 24th.

Institutional Trading of Spirit Airlines

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Spirit Airlines by 0.3% during the third quarter. Vanguard Group Inc. now owns 10,350,193 shares of the company’s stock worth $170,778,000 after purchasing an additional 34,883 shares in the last quarter. FMR LLC raised its holdings in shares of Spirit Airlines by 1.3% in the 3rd quarter. FMR LLC now owns 5,296,283 shares of the company’s stock valued at $87,389,000 after buying an additional 67,977 shares during the period. Dimensional Fund Advisors LP lifted its stake in Spirit Airlines by 37.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,637,683 shares of the company’s stock worth $79,557,000 after acquiring an additional 997,254 shares in the last quarter. Cyrus Capital Partners L.P. boosted its holdings in Spirit Airlines by 47.7% during the 2nd quarter. Cyrus Capital Partners L.P. now owns 3,125,870 shares of the company’s stock valued at $53,640,000 after acquiring an additional 1,010,000 shares during the period. Finally, Geode Capital Management LLC grew its position in Spirit Airlines by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,142,802 shares of the company’s stock valued at $36,770,000 after acquiring an additional 55,929 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.

Spirit Airlines Company Profile

(Get Free Report)

Spirit Airlines, Inc provides airline services. The company provides front seats, including wider seats with extra legroom, carry-on and checked baggage, assigned seats, travel insurance, and onboard beverages and snacks, as well as hotels, cars, vacation packages, and cruises services. It serves 92 destinations in 16 countries in the United States, Latin America, and the Caribbean.

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