Spirit Airlines Inc (NASDAQ:SAVE) Rating Reaffirmed
They currently have a $55.00 target price on Spirit Airlines Inc (NASDAQ:SAVE). The target price by Cowen would suggest a potential upside of 28.90% from the company’s previous stock close. This has been announced in analysts note on Tuesday morning.
From a total of 12 analysts covering Spirit Airlines (NASDAQ:SAVE) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 54% of the ratings are positive. The highest target price is $90 while the lowest target price is $39. The mean of all analyst targets is $55.25 with a 39.30% above today’s ($40.74) stock price. Spirit Airlines was the topic of 18 analyst reports since August 18, 2015 according to the firm StockzIntelligence Inc. Cowen & Co maintained shares on December 8 with “Outperform” rating. Vetr downgraded shares to “Strong-Buy” rating and $69.03 target share price in a report from an August 18. Wolfe Research downgraded SAVE stock in a recent report from October 26 to “Peer Perform” rating. Finally, Morgan Stanley downgraded the stock to “Equal-Weight” rating in a report issued on an October 16.
The stock decreased 4.52% or $1.93 during the last trading session, striking $40.74. Approximately shares of stock traded hands. Spirit Airlines Incorporated (NASDAQ:SAVE) has declined 38.99% since May 6, 2015 and is downtrending. It has underperformed by 38.20% the S&P500.
The overall sentiment of institutions has decreased to 0.87 in Q2 2015. Its down 0.05, from 0.92 in 2015Q2. The ratio turned negative, as 75 institutions have sold all the shares of Spirit Airlines Incorporated that they owned while 80 funds have taken shares off the table. 48 funds have purchased shares for the first time while 87 added to their positions. These institutions now hold 63.65 million shares or 8.86% less than the 69.83 million shares they owned in 2015Q2.
The Fund Park West Asset Management Llc currently is holding shares equating to 3.23% of its total portfolio in Spirit Airlines Incorporated representing a total of 748,096 shares. Another fund,Welch Capital Partners Llc Ny, is holding a total of 194,260 shares equating to 3.12% of their holdings. Additionally, Cwh Capital Management Inc. has a 76,060 share stake in Spirit Airlines Incorporated which represents 2.42% of their total portfolio. The Fund, Muhlenkamp & Co Inc, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 2.39% of their total portfolio. Finally Magee Thomson Investment Partners Llc, a fund which is based in the state of California reported a total holdings of 159,200 shares.
Spirit Airlines, Inc. is an airline company. The company has a market cap of $3.05 billion. The Company’s all-Airbus fleet operates more than 300 daily flights to 56 destinations in the United States, Caribbean and Latin America. It has 9.88 P/E ratio. The Company’s ultra-low-cost carrier business model provides low base fares with a range of optional services.
According to Zacks Investment Research, “Spirit Airlines Inc. operates an airline based in Fort Lauderdale providing travel opportunity principally to and from South Florida, the Caribbean and Latin America. Spirit Airlines Inc. is based in Miramar, Florida.” Get a free copy of the Zacks research report on Spirit Airlines Incorporated (SAVE).