Stock Fundamental and Technical Insights on Spirit Airlines Inc (NASDAQ:SAVE)

Spirit Airlines Inc (NASDAQ:SAVE) (TREND ANALYSIS) shares were traded with no significant volume change. The stock closed last trading session at $51.14, down by -0.12%, with a volume of 1,461,736 shares against an average volume for the last 3 months of 1,320,650.

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Spirit Airlines Inc (NASDAQ:SAVE) stock is currently trading 40.08% below its 52-week-high, 10.53% above its 52-week-low. The 1-year stock price history is in the range of $46.27 – $85.35. Spirit Airlines Inc (SAVE) has a price to earnings ratio of 13.94 versus Services sector average of 17.94. SAVE stock price has underperformed the Nasdaq by 34.3%. The Airlines company is currently valued at $3.73 billion and its share price closed the last trading session at $51.14. The stock has a 50-day moving average of $57.81 and a 200-day moving average of $67.13.

Spirit Airlines Inc (SAVE) current short interest stands at 4.23 million shares. It has increased by 5% from the same period of last month. Around 6% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.1 million shares, the number of days required to cover the short positions stand at 3.9 days.

The company is expected to announce next quarter earnings on October 27, at consensus estimate of $1.16. Spirit Airlines Inc (SAVE) reported last quarter earnings on July 24. The Airlines company announced earnings per share of $1.03 against a consensus Street estimate of $1.01, beating the average estimate by $0.02. This corresponds to an increase of $0.1 compared to the same quarter of the previous fiscal year.

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There are currently sixteen analysts that cover Spirit Airlines Inc stock. Of those sixteen, twelve have a Buy rating, four have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $77.21.

A recent analyst activity consisted of Standpoint Research upgrading their Hold rating to Buy on August 26. On the date of report, the stock closed at $51.08.

Imperial Capital reiterated their Outperform stance on July 15, and decreased their price target from $100 to $85. This corresponds to a 66.21% upside from the last closing price. On the date of report, the stock closed at $59.35.

Another research firm was Citigroup who downgraded their Buy rating to Neutral on July 14. On the date of report, the stock closed at $58.81.

Company profile

Spirit Airlines Inc. is a low-fare airline based in Miramar, Florida. The Airline provides low-cost travel opportunities principally to and from South Florida, the Caribbean and Latin America. Spirit Airlines basic service combines with a range of optional services for additional fees, targets price sensitive leisure travelers and travelers visiting friends and relatives.

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