Spirit Airlines (NYSE:SAVE) Price Target Lowered to $1.00 at TD Cowen

Spirit Airlines (NYSE:SAVE) had its price objective reduced by TD Cowen from $2.00 to $1.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a sell rating on the stock.

SAVE has been the topic of a number of other research reports. Susquehanna reduced their target price on Spirit Airlines from $2.25 to $1.50 and set a “negative” rating on the stock in a report on Wednesday, October 9th. Bank of America lowered their target price on Spirit Airlines from $3.25 to $2.75 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Finally, Citigroup reduced their price target on shares of Spirit Airlines from $3.50 to $2.75 and set a “sell” rating on the stock in a research note on Tuesday, July 23rd. Seven analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $2.36.

Spirit Airlines Trading Down 0.7 %

Shares of SAVE stock opened at $1.30 on Wednesday. The company has a market capitalization of $142.40 million, a PE ratio of -0.21 and a beta of 1.37. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 3.86. Spirit Airlines has a 12-month low of $1.13 and a 12-month high of $17.02. The firm has a 50 day moving average price of $2.32 and a two-hundred day moving average price of $2.94.

Institutional Trading of Spirit Airlines

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC boosted its position in Spirit Airlines by 127.6% during the 2nd quarter. Signaturefd LLC now owns 7,926 shares of the company’s stock worth $29,000 after buying an additional 4,443 shares during the period. Natixis raised its position in Spirit Airlines by 29.1% during the 1st quarter. Natixis now owns 12,480 shares of the company’s stock worth $60,000 after purchasing an additional 2,815 shares during the last quarter. Wellington Wealth Strategies LLC. acquired a new position in shares of Spirit Airlines in the first quarter worth approximately $68,000. High Note Wealth LLC bought a new position in Spirit Airlines during the 3rd quarter worth approximately $36,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Spirit Airlines in the 2nd quarter worth approximately $63,000. 58.73% of the stock is currently owned by institutional investors.

About Spirit Airlines

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.