Spirit Airlines (NASDAQ:SAVE) PT Raised to $20.00

Spirit Airlines (NASDAQ:SAVE) had its price target hoisted by Goldman Sachs Group from $15.00 to $20.00 in a research report report published on Monday, The Fly reports. Goldman Sachs Group currently has a conviction-buy rating on the transportation company’s stock.

SAVE has been the subject of several other research reports. TheStreet downgraded Spirit Airlines from a b- rating to a c rating in a research note on Monday, March 2nd. Deutsche Bank cut their price target on Spirit Airlines from $26.00 to $24.00 and set a buy rating for the company in a research note on Tuesday, April 21st. Evercore ISI raised Spirit Airlines from an in-line rating to an outperform rating and set a $12.00 price target for the company in a research note on Monday, May 18th. Citigroup lifted their price target on Spirit Airlines from $14.00 to $22.00 and gave the stock a buy rating in a research note on Monday, June 15th. Finally, Wolfe Research downgraded Spirit Airlines from a peer perform rating to an underperform rating and set a $37.00 price target for the company. in a research note on Friday, May 29th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $29.53.

Spirit Airlines stock opened at $17.40 on Monday. Spirit Airlines has a one year low of $7.01 and a one year high of $55.21. The business has a fifty day moving average of $15.70 and a two-hundred day moving average of $25.06.

Spirit Airlines (NASDAQ:SAVE) last released its earnings results on Wednesday, May 6th. The transportation company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.26). The business had revenue of $771.10 million during the quarter, compared to the consensus estimate of $825.68 million. During the same period in the prior year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently bought and sold shares of SAVE. US Bancorp DE grew its holdings in Spirit Airlines by 413.7% in the 1st quarter. US Bancorp DE now owns 2,661 shares of the transportation company’s stock valued at $34,000 after buying an additional 2,143 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Spirit Airlines by 467.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,612 shares of the transportation company’s stock valued at $47,000 after buying an additional 2,975 shares during the period. Jacobi Capital Management LLC purchased a new stake in Spirit Airlines in the 1st quarter valued at about $53,000. PNC Financial Services Group Inc. grew its holdings in Spirit Airlines by 59.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,538 shares of the transportation company’s stock valued at $84,000 after buying an additional 2,435 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in Spirit Airlines by 265.0% in the 4th quarter. Macquarie Group Ltd. now owns 2,617 shares of the transportation company’s stock valued at $105,000 after buying an additional 1,900 shares during the period.

Spirit Airlines Company Profile

Spirit Airlines, Inc provides low-fare airline services. The company operates approximately 600 daily flights to 77 destinations in the United States, the Caribbean, and Latin America. As of December 31, 2019, the company had a fleet of 145 Airbus single-aisle aircraft comprising 31 A319ceos, 64 A320ceos, 20 A320neos and 30 A321ceos.

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