Spirit Airlines Incorporated (NASDAQ:SAVE) – Analysts at Imperial Capital dropped their Q3 2019 earnings per share estimates for shares of Spirit Airlines in a research note issued to investors on Friday, April 26th. Imperial Capital analyst M. Derchin now expects that the transportation company will post earnings per share of $1.96 for the quarter, down from their prior forecast of $2.02. Imperial Capital currently has a “Outperform” rating and a $78.00 price target on the stock. Imperial Capital also issued estimates for Spirit Airlines’ Q4 2019 earnings at $1.55 EPS.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.84 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.84. The company had revenue of $855.80 million during the quarter, compared to analysts’ expectations of $855.77 million. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS.
A number of other equities analysts have also recently weighed in on SAVE. Cowen upgraded Spirit Airlines from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $71.00 to $76.00 in a report on Thursday, January 10th. Macquarie set a $81.00 price target on Spirit Airlines and gave the stock a “buy” rating in a report on Tuesday, January 29th. Vertical Research initiated coverage on Spirit Airlines in a report on Monday, February 4th. They issued a “buy” rating for the company. Stephens restated an “overweight” rating and issued a $78.00 price target (up previously from $74.00) on shares of Spirit Airlines in a report on Wednesday, February 6th. Finally, Goldman Sachs Group upgraded Spirit Airlines from a “neutral” rating to a “buy” rating and upped their price target for the stock from $78.00 to $85.00 in a report on Thursday, February 7th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Spirit Airlines has a consensus rating of “Buy” and a consensus target price of $69.33.
NASDAQ SAVE opened at $52.70 on Monday. Spirit Airlines has a fifty-two week low of $34.36 and a fifty-two week high of $65.35.
Several institutional investors have recently added to or reduced their stakes in SAVE. Columbus Circle Investors purchased a new position in shares of Spirit Airlines during the 4th quarter valued at approximately $35,914,000. D. E. Shaw & Co. Inc. raised its position in shares of Spirit Airlines by 1,159.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 501,335 shares of the transportation company’s stock valued at $29,037,000 after acquiring an additional 461,533 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Spirit Airlines during the 4th quarter valued at approximately $20,741,000. Victory Capital Management Inc. acquired a new stake in shares of Spirit Airlines during the 4th quarter valued at approximately $20,721,000. Finally, Deutsche Bank AG raised its position in shares of Spirit Airlines by 203.0% during the 4th quarter. Deutsche Bank AG now owns 437,466 shares of the transportation company’s stock valued at $25,336,000 after acquiring an additional 293,080 shares in the last quarter.
In other news, Director Robert D. Johnson sold 750 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $56.68, for a total transaction of $42,510.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.
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.