Spirit Airlines Incorporated (NASDAQ:SAVE) – Research analysts at Imperial Capital dropped their Q3 2019 earnings estimates for shares of Spirit Airlines in a research report issued on Friday, April 26th, according to Zacks Investment Research. Imperial Capital analyst M. Derchin now anticipates that the transportation company will post earnings of $1.96 per share for the quarter, down from their previous estimate of $2.02. Imperial Capital currently has a “Outperform” rating and a $78.00 target price on the stock. Imperial Capital also issued estimates for Spirit Airlines’ Q4 2019 earnings at $1.55 EPS.
Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.84 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.84. The company had revenue of $855.80 million during the quarter, compared to the consensus estimate of $855.77 million. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS.
A number of other brokerages have also commented on SAVE. Credit Suisse Group reissued a “buy” rating and issued a $83.00 price objective on shares of Spirit Airlines in a research report on Thursday, February 7th. Vertical Research began coverage on shares of Spirit Airlines in a research report on Monday, February 4th. They issued a “buy” rating on the stock. Cowen reissued an “outperform” rating and issued a $76.00 price objective (up previously from $71.00) on shares of Spirit Airlines in a research report on Thursday, January 17th. Goldman Sachs Group upgraded shares of Spirit Airlines from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $78.00 to $85.00 in a report on Thursday, February 7th. Finally, Stephens restated an “overweight” rating and set a $78.00 target price (up from $74.00) on shares of Spirit Airlines in a report on Wednesday, February 6th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $69.33.
Shares of SAVE stock opened at $52.50 on Monday. Spirit Airlines has a 12 month low of $34.36 and a 12 month high of $65.35.
In related news, Director Robert D. Johnson sold 750 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were 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 at this link. Also, SVP Laurie Villa sold 3,800 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $53.69, for a total transaction of $204,022.00. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Commonwealth Bank of Australia lifted its holdings in shares of Spirit Airlines by 5.6% in the fourth quarter. Commonwealth Bank of Australia now owns 7,600 shares of the transportation company’s stock worth $440,000 after acquiring an additional 400 shares during the last quarter. Aviance Capital Partners LLC lifted its holdings in shares of Spirit Airlines by 1.4% in the first quarter. Aviance Capital Partners LLC now owns 29,751 shares of the transportation company’s stock worth $1,573,000 after acquiring an additional 411 shares during the last quarter. Quadrant Capital Group LLC bought a new position in shares of Spirit Airlines in the first quarter worth about $25,000. Penserra Capital Management LLC bought a new position in shares of Spirit Airlines in the fourth quarter worth about $29,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Spirit Airlines by 162.5% in the fourth quarter. Captrust Financial Advisors now owns 1,008 shares of the transportation company’s stock worth $58,000 after acquiring an additional 624 shares during the last quarter.
Spirit Airlines Company Profile
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.