Spirit Airlines (NASDAQ:SAVE) Upgraded by Buckingham Research to “Buy”

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Spirit Airlines (NASDAQ:SAVE) was upgraded by research analysts at Buckingham Research from a “neutral” rating to a “buy” rating in a report issued on Monday, The Fly reports. The firm currently has a $50.00 price target on the transportation company’s stock, up from their prior price target of $41.00. Buckingham Research’s price objective would indicate a potential upside of 27.98% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Susquehanna Bancshares began coverage on shares of Spirit Airlines in a research note on Tuesday, November 19th. They issued a “neutral” rating and a $41.00 price objective for the company. Macquarie upgraded shares of Spirit Airlines from a “neutral” rating to an “outperform” rating and set a $47.00 target price for the company in a report on Friday, September 13th. TheStreet lowered shares of Spirit Airlines from a “b-” rating to a “c” rating in a report on Wednesday, August 21st. Stifel Nicolaus set a $55.00 target price on shares of Spirit Airlines and gave the stock a “hold” rating in a report on Friday, October 11th. Finally, Stephens lowered shares of Spirit Airlines from an “overweight” rating to an “equal” rating and lowered their target price for the stock from $55.00 to $45.00 in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $51.19.

Shares of NASDAQ:SAVE opened at $39.07 on Monday. Spirit Airlines has a 52 week low of $32.97 and a 52 week high of $65.35. The firm has a fifty day simple moving average of $37.83 and a two-hundred day simple moving average of $42.20.

Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.09. The business had revenue of $991.97 million during the quarter, compared to analysts’ expectations of $987.68 million. During the same period in the previous year, the business earned $1.47 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis.

Several institutional investors have recently added to or reduced their stakes in SAVE. Steward Partners Investment Advisory LLC bought a new stake in shares of Spirit Airlines in the 2nd quarter worth about $28,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Spirit Airlines by 20.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,661 shares of the transportation company’s stock valued at $79,000 after buying an additional 278 shares in the last quarter. Point72 Hong Kong Ltd lifted its holdings in Spirit Airlines by 549.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,707 shares of the transportation company’s stock valued at $81,000 after buying an additional 1,444 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Spirit Airlines during the 2nd quarter valued at about $134,000. Finally, Advisor Group Inc. lifted its holdings in Spirit Airlines by 12.4% during the 2nd quarter. Advisor Group Inc. now owns 3,341 shares of the transportation company’s stock valued at $160,000 after buying an additional 368 shares in the last quarter.

About Spirit Airlines

Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its 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, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and 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.

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The Fly

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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