Spirit Airlines (NYSE:SAVE) Given New $3.00 Price Target at Deutsche Bank Aktiengesellschaft

Spirit Airlines (NYSE:SAVE) had its price target cut by Deutsche Bank Aktiengesellschaft from $4.00 to $3.00 in a research note published on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

Other analysts also recently issued reports about the company. Evercore ISI decreased their price objective on 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 dropped their price objective on shares of Spirit Airlines from $4.00 to $3.00 and set a hold rating on the stock in a research note on Tuesday. Seaport Res Ptn downgraded shares of Spirit Airlines from a buy rating to a neutral rating in a research note on Wednesday, January 17th. Citigroup dropped their target price on Spirit Airlines from $4.00 to $3.85 and set a sell rating on the stock in a research report on Wednesday, April 17th. Finally, Susquehanna decreased their price objective on Spirit Airlines from $5.00 to $4.00 and set a negative rating for the company in a research note on Tuesday, April 9th. Five analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, Spirit Airlines currently has an average rating of Reduce and an average price target of $4.54.

Spirit Airlines Stock Down 1.2 %

NYSE:SAVE opened at $3.31 on Tuesday. The company has a market cap of $362.45 million, a price-to-earnings ratio of -0.81 and a beta of 1.41. Spirit Airlines has a twelve month low of $3.18 and a twelve month high of $19.69. 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 stock has a fifty day simple moving average of $4.54 and a 200-day simple moving average of $9.20.

Spirit Airlines (NYSE:SAVE) last announced its quarterly earnings data on Monday, May 6th. The company reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.45) by ($0.01). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 26.38%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.82) EPS. Analysts anticipate that Spirit Airlines will post -2.79 EPS for the current year.

Spirit Airlines Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, February 29th. Shareholders of record on Friday, February 23rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, February 22nd.

Hedge Funds Weigh In On Spirit Airlines

Several hedge funds have recently modified their holdings of SAVE. Vanguard Group Inc. increased its stake in Spirit Airlines by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 10,418,903 shares of the company’s stock valued at $170,766,000 after purchasing an additional 68,710 shares in the last quarter. FMR LLC increased its position in shares of Spirit Airlines by 1.3% in 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 during the period. Dimensional Fund Advisors LP raised its stake in Spirit Airlines by 13.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,143,384 shares of the company’s stock worth $51,520,000 after acquiring an additional 363,519 shares during the last quarter. Alpine Associates Management Inc. lifted its position in Spirit Airlines by 29.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 1,904,500 shares of the company’s stock worth $31,424,000 after acquiring an additional 436,486 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Spirit Airlines by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,057,224 shares of the company’s stock valued at $17,328,000 after purchasing an additional 32,811 shares during the period. Institutional investors and hedge funds 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.