Spirit Airlines (NASDAQ:SAVE) PT Raised to $20.00 at Goldman Sachs Group

Spirit Airlines (NASDAQ:SAVE) had its target price hoisted by stock analysts at Goldman Sachs Group from $15.00 to $20.00 in a research report issued on Monday, The Fly reports. The brokerage currently has a “conviction-buy” rating on the transportation company’s stock. Goldman Sachs Group’s target price suggests a potential upside of 12.36% from the company’s current price.

Several other research firms have also recently commented on SAVE. Deutsche Bank decreased their target price on shares of Spirit Airlines from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Wolfe Research cut shares of Spirit Airlines from a “peer perform” rating to an “underperform” rating and set a $37.00 target price for the company. in a research report on Friday, May 29th. Citigroup upped their target price on shares of Spirit Airlines from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. JPMorgan Chase & Co. upped their target price on shares of Spirit Airlines from $10.00 to $14.00 in a research report on Wednesday, June 10th. Finally, BidaskClub upgraded shares of Spirit Airlines from a “sell” rating to a “hold” rating in a research report on Thursday, June 4th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $29.53.

Shares of NASDAQ:SAVE opened at $17.80 on Monday. Spirit Airlines has a fifty-two week low of $7.01 and a fifty-two week high of $55.21. The firm has a 50-day simple moving average of $15.39 and a 200 day simple moving average of $25.27.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings data on Wednesday, May 6th. The transportation company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.26). The company had revenue of $771.10 million for the quarter, compared to analyst estimates of $825.68 million. During the same period in the previous year, the company posted $0.84 earnings per share. The firm’s revenue was down 9.9% on a year-over-year basis.

A number of hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its stake in Spirit Airlines by 3.6% during the fourth quarter. Amalgamated Bank now owns 12,146 shares of the transportation company’s stock valued at $490,000 after purchasing an additional 425 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV lifted its stake in Spirit Airlines by 4.5% during the fourth quarter. Mid Atlantic Financial Management Inc. ADV now owns 10,265 shares of the transportation company’s stock valued at $414,000 after purchasing an additional 445 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in Spirit Airlines by 10.9% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,764 shares of the transportation company’s stock valued at $313,000 after purchasing an additional 763 shares during the last quarter. Swiss National Bank lifted its stake in Spirit Airlines by 3.1% during the fourth quarter. Swiss National Bank now owns 32,800 shares of the transportation company’s stock valued at $1,322,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Hillcrest Asset Management LLC lifted its stake in Spirit Airlines by 0.7% during the first quarter. Hillcrest Asset Management LLC now owns 167,184 shares of the transportation company’s stock valued at $2,155,000 after purchasing an additional 1,090 shares during the last quarter.

Spirit Airlines Company Profile

Spirit Airlines, Inc provides low-fare airline services. The company operates approximately 600 daily flights to 77 destinations in the United States, the Caribbean, and Latin America. As of December 31, 2019, the company had a fleet of 145 Airbus single-aisle aircraft comprising 31 A319ceos, 64 A320ceos, 20 A320neos and 30 A321ceos.

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Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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