Spirit Airlines (SAVE) Upgraded to “Outperform” at Cowen

Cowen upgraded shares of Spirit Airlines (NASDAQ:SAVE) from a market perform rating to an outperform rating in a report released on Thursday morning, The Fly reports.

SAVE has been the subject of several other research reports. Zacks Investment Research cut shares of Spirit Airlines from a buy rating to a hold rating in a research note on Monday, October 1st. Imperial Capital raised their price objective on shares of Spirit Airlines from $72.00 to $90.00 and gave the company an outperform rating in a research note on Friday, October 26th. Morgan Stanley raised their price objective on shares of Spirit Airlines from $50.00 to $53.00 and gave the company an equal weight rating in a research note on Monday, October 15th. BidaskClub cut shares of Spirit Airlines from a strong-buy rating to a buy rating in a research note on Friday, November 2nd. Finally, Credit Suisse Group started coverage on shares of Spirit Airlines in a research note on Monday, November 19th. They issued a neutral rating and a $59.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $60.63.

Shares of NASDAQ SAVE opened at $60.11 on Thursday. Spirit Airlines has a 52 week low of $34.36 and a 52 week high of $65.35.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings data on Wednesday, October 24th. The transportation company reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The company had revenue of $904.33 million during the quarter, compared to analyst estimates of $904.05 million.

In other news, COO John A. Bendoraitis sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $61.11, for a total value of $122,220.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rocky Wiggins sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $50.56, for a total transaction of $227,520.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,250 shares of company stock valued at $398,228. 0.33% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of SAVE. Sei Investments Co. raised its position in shares of Spirit Airlines by 127.9% in the second quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock valued at $143,000 after buying an additional 2,208 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Spirit Airlines by 22.3% in the second quarter. Bank of New York Mellon Corp now owns 345,397 shares of the transportation company’s stock valued at $12,555,000 after buying an additional 62,989 shares during the last quarter. Strs Ohio acquired a new position in shares of Spirit Airlines in the second quarter valued at approximately $105,000. SG Americas Securities LLC raised its position in shares of Spirit Airlines by 46.2% in the second quarter. SG Americas Securities LLC now owns 6,653 shares of the transportation company’s stock valued at $242,000 after buying an additional 2,101 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Spirit Airlines by 67.1% in the second quarter. BlackRock Inc. now owns 4,468,084 shares of the transportation company’s stock valued at $162,416,000 after buying an additional 1,794,176 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.

Featured Story: Rule of 72

The Fly

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

Receive News & Ratings for Spirit Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply