Spirit Airlines, Inc. (NYSE:SAVE) Given Consensus Recommendation of “Strong Sell” by Analysts

Shares of Spirit Airlines, Inc. (NYSE:SAVE) have received an average recommendation of “Strong Sell” from the nine brokerages that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $2.61.

Several equities research analysts recently commented on the stock. TD Cowen lowered shares of Spirit Airlines from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $3.00 to $2.00 in a research note on Wednesday, July 17th. Raymond James downgraded Spirit Airlines from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. Deutsche Bank Aktiengesellschaft cut Spirit Airlines from a “hold” rating to a “sell” rating and lowered their price objective for the company from $3.00 to $2.00 in a research note on Monday, July 8th. Barclays cut their target price on Spirit Airlines from $4.00 to $3.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Finally, Citigroup lowered their price target on Spirit Airlines from $3.50 to $2.75 and set a “sell” rating for the company in a research report on Tuesday, July 23rd.

Institutional Investors Weigh In On Spirit Airlines

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in shares of Spirit Airlines by 2,369.9% during the 1st quarter. BNP Paribas Financial Markets now owns 733,846 shares of the company’s stock valued at $3,552,000 after acquiring an additional 704,134 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Spirit Airlines by 13.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,143,384 shares of the company’s stock valued at $51,520,000 after buying an additional 363,519 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Spirit Airlines by 331.2% in the 2nd quarter. Federated Hermes Inc. now owns 432,494 shares of the company’s stock worth $1,583,000 after buying an additional 332,188 shares during the last quarter. IPG Investment Advisors LLC grew its holdings in shares of Spirit Airlines by 41.1% in the fourth quarter. IPG Investment Advisors LLC now owns 980,655 shares of the company’s stock worth $16,073,000 after acquiring an additional 285,615 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in Spirit Airlines during the first quarter valued at $829,000. 58.73% of the stock is currently owned by institutional investors.

Spirit Airlines Stock Down 0.8 %

Shares of NYSE:SAVE opened at $2.44 on Monday. The firm has a market capitalization of $267.18 million, a P/E ratio of -0.55 and a beta of 1.39. The company has a debt-to-equity ratio of 3.86, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50 day moving average price of $2.64 and a 200-day moving average price of $3.42. Spirit Airlines has a 52-week low of $2.28 and a 52-week high of $17.49.

Spirit Airlines (NYSE:SAVE) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($1.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.14). Spirit Airlines had a negative return on equity of 57.87% and a negative net margin of 13.20%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company posted $0.29 EPS. Spirit Airlines’s revenue for the quarter was down 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Spirit Airlines will post -7.12 EPS for the current fiscal year.

Spirit Airlines Company Profile

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.