Spirit Airlines (NYSE:SAVE) PT Lowered to $3.85 at Citigroup

Spirit Airlines (NYSE:SAVE) had its target price lowered by Citigroup from $4.00 to $3.85 in a research report report published on Wednesday, Benzinga reports. The firm currently has a sell rating on the stock.

A number of other research analysts have also issued reports on SAVE. Bank of America started coverage on Spirit Airlines in a report on Wednesday, January 17th. They set an underperform rating and a $5.00 target price on the stock. Susquehanna dropped their target price on shares of Spirit Airlines from $5.00 to $4.00 and set a negative rating on the stock in a report on Tuesday, April 9th. Evercore ISI reduced their target price on shares of Spirit Airlines from $18.00 to $3.50 and set an in-line rating for the company in a report on Thursday, April 4th. TD Cowen decreased their price target on shares of Spirit Airlines from $5.00 to $4.00 and set a hold rating on the stock in a research report on Tuesday. Finally, Barclays assumed coverage on Spirit Airlines in a research report on Wednesday, March 27th. They set an underweight rating and a $4.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, Spirit Airlines presently has a consensus rating of Reduce and a consensus price target of $4.91.

Spirit Airlines Trading Up 0.4 %

Shares of NYSE:SAVE opened at $4.05 on Wednesday. The company has a 50 day moving average of $5.17 and a 200-day moving average of $10.28. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.69. The firm has a market cap of $442.85 million, a P/E ratio of -0.99 and a beta of 1.35. Spirit Airlines has a twelve month low of $3.96 and a twelve month high of $19.69.

Spirit Airlines (NYSE:SAVE) last announced its earnings results on Thursday, February 8th. The company reported ($1.36) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.06. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Spirit Airlines had a negative return on equity of 26.38% and a negative net margin of 8.34%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 earnings per share. As a group, analysts anticipate that Spirit Airlines will post -2.8 earnings per share for the current fiscal year.

Spirit Airlines Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, February 29th. Shareholders of record on Friday, February 23rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, February 22nd.

Institutional Trading of Spirit Airlines

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Spirit Airlines by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,418,903 shares of the company’s stock valued at $170,766,000 after buying an additional 68,710 shares in the last quarter. FMR LLC grew its stake in Spirit Airlines by 1.3% during the 3rd quarter. FMR LLC now owns 5,296,283 shares of the company’s stock valued at $87,389,000 after acquiring an additional 67,977 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Spirit Airlines by 37.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,637,683 shares of the company’s stock valued at $79,557,000 after acquiring an additional 997,254 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Spirit Airlines by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,142,802 shares of the company’s stock valued at $36,770,000 after purchasing an additional 55,929 shares during the period. Finally, Alpine Associates Management Inc. lifted its position in shares of Spirit Airlines by 29.7% in the third quarter. Alpine Associates Management Inc. now owns 1,904,500 shares of the company’s stock worth $31,424,000 after purchasing an additional 436,486 shares in the last quarter. Hedge funds and other institutional investors own 58.73% of the company’s stock.

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.