Susquehanna Bancshares Downgrades Spirit Airlines (NYSE:SAVE) to Neutral

Spirit Airlines (NYSE:SAVE) was downgraded by analysts at Susquehanna Bancshares from a “positive” rating to a “neutral” rating in a research note issued to investors on Thursday, Stock Target Advisor reports. They currently have a $25.00 price objective on the stock, down from their prior price objective of $31.00. Susquehanna Bancshares’ price objective indicates a potential upside of 7.34% from the stock’s current price.

Several other analysts also recently weighed in on the company. Seaport Research Partners upgraded Spirit Airlines from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Monday, December 13th. JPMorgan Chase & Co. downgraded Spirit Airlines from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $43.00 to $34.00 in a research report on Friday, October 1st. Susquehanna downgraded Spirit Airlines from a “positive” rating to a “neutral” rating and dropped their target price for the company from $31.00 to $25.00 in a research report on Thursday. Seaport Global Securities upgraded Spirit Airlines from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Monday, December 13th. Finally, MKM Partners cut Spirit Airlines from a “buy” rating to a “neutral” rating and set a $25.00 price target for the company. in a research note on Monday, January 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.82.

Shares of NYSE SAVE opened at $23.29 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.55 and a quick ratio of 1.55. The stock’s fifty day moving average price is $22.64 and its two-hundred day moving average price is $24.70. Spirit Airlines has a one year low of $19.52 and a one year high of $40.77. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -4.35 and a beta of 1.53.

Spirit Airlines (NYSE:SAVE) last issued its quarterly earnings data on Tuesday, October 26th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.33. The firm had revenue of $922.60 million for the quarter, compared to analyst estimates of $925.13 million. Spirit Airlines had a negative return on equity of 23.44% and a negative net margin of 19.80%. The company’s revenue for the quarter was up 129.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.32) EPS. On average, equities analysts anticipate that Spirit Airlines will post -4.2 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in Spirit Airlines by 6.9% during the second quarter. PNC Financial Services Group Inc. now owns 5,899 shares of the company’s stock worth $180,000 after acquiring an additional 383 shares during the period. Private Advisor Group LLC raised its stake in shares of Spirit Airlines by 3.7% in the second quarter. Private Advisor Group LLC now owns 12,115 shares of the company’s stock valued at $369,000 after buying an additional 430 shares during the period. Independent Advisor Alliance raised its stake in shares of Spirit Airlines by 5.3% in the third quarter. Independent Advisor Alliance now owns 9,850 shares of the company’s stock valued at $256,000 after buying an additional 500 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Spirit Airlines by 6.3% in the third quarter. Rockefeller Capital Management L.P. now owns 8,609 shares of the company’s stock valued at $223,000 after buying an additional 509 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in shares of Spirit Airlines by 71.8% in the second quarter. Great West Life Assurance Co. Can now owns 1,723 shares of the company’s stock valued at $52,000 after buying an additional 720 shares during the period. Institutional investors own 63.87% of the company’s stock.

About Spirit Airlines

Spirit Airlines, Inc is an airline that offers travel to price-conscious customers. Its customers start with an unbundled base fares that remove components included in the price of an airline ticket. The company was founded by Ned Homfeld in 1964 and is headquartered in Miramar, FL.

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