Spirit Airlines (NASDAQ:SAVE) Given New $79.00 Price Target at Deutsche Bank

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Spirit Airlines (NASDAQ:SAVE) had its target price raised by Deutsche Bank from $75.00 to $79.00 in a research report released on Friday morning, BenzingaRatingsTable reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities research analysts have also weighed in on the stock. Bank of America raised shares of Air Products & Chemicals from an underperform rating to a neutral rating and boosted their price objective for the company from $170.00 to $215.00 in a report on Thursday, April 25th. Imperial Capital reaffirmed an outperform rating and issued a $78.00 price target (down from $83.00) on shares of Spirit Airlines in a report on Friday, April 26th. BidaskClub raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, July 4th. Morgan Stanley upped their price target on shares of United Technologies from $155.00 to $164.00 and gave the company an overweight rating in a report on Monday, May 20th. Finally, Goldman Sachs Group raised shares of Exelon from a neutral rating to a buy rating and upped their price target for the company from $48.00 to $52.00 in a report on Thursday, June 6th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $69.07.

Shares of SAVE opened at $50.91 on Friday. Spirit Airlines has a 1-year low of $38.94 and a 1-year high of $65.35. The firm’s fifty day moving average is $49.11.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.84. The company had revenue of $855.80 million for the quarter, compared to analysts’ expectations of $855.77 million. Spirit Airlines’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share.

In other Spirit Airlines news, SVP Laurie Villa sold 3,800 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $53.69, for a total value of $204,022.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert D. Johnson sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $45.97, for a total transaction of $34,477.50. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Spirit Airlines by 6.5% in the fourth quarter. BlackRock Inc. now owns 4,810,444 shares of the transportation company’s stock worth $278,621,000 after acquiring an additional 292,498 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Spirit Airlines by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,341,595 shares of the transportation company’s stock worth $251,464,000 after acquiring an additional 114,209 shares during the period. OppenheimerFunds Inc. raised its position in shares of Spirit Airlines by 18.6% in the first quarter. OppenheimerFunds Inc. now owns 2,807,700 shares of the transportation company’s stock worth $148,415,000 after acquiring an additional 440,339 shares during the period. Scout Investments Inc. raised its position in shares of Spirit Airlines by 421.7% in the second quarter. Scout Investments Inc. now owns 901,161 shares of the transportation company’s stock worth $43,012,000 after acquiring an additional 728,431 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Spirit Airlines by 48.5% during the 4th quarter. Bank of America Corp DE now owns 890,056 shares of the transportation company’s stock worth $51,553,000 after purchasing an additional 290,813 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.

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