Economy

Spirit Airlines, Inc. (SAVE) Coverage Initiated at Macquarie

"(NASDAQ:SAVE) Purchased by Caxton Associates LP" was published by StockNewsTimes and is the property of of StockNewsTimes.

A number of other analysts have also weighed in on SAVE.

In a research note revealed to investors this morning, Stifel Nicolaus maintained their Buy rating on Spirit Airlines (NASDAQ:SAVE) shares.

On August 17 Morgan Stanley kept the stock rating at "Equal-Weight" but lowered the price target from $59.00 to $46.00. They issued a neutral rating and a $33.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. $43.50's average target is 22.81% above currents $35.42 stock price.

Shares of Spirit Airlines (SAVE) traded up 1.33% during mid-day trading on Monday, hitting $34.16. Volume is the basic fuel of the market since stocks move up or down in price only when shares are trading hands. The firm has a market cap of $2.40 billion, a P/E ratio of 10.01 and a beta of 0.66. The stock is now moving above its 20-Day Simple Moving Average of 2.14% with a 50-Day Simple Moving Average of -0.26 percent. Spirit Airlines has a 52-week low of $30.32 and a 52-week high of $60.40. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.11 by $0.03. The firm had revenue of $701.68 million during the quarter, compared to the consensus estimate of $702.29 million. The business's revenue was up 20.1% compared to the same quarter past year. During the same quarter in the previous year, the firm posted $1.11 EPS.

Spirit Airlines, Inc. (NASDAQ:SAVE) yearly performance is -23.55% and net profit margin is 9.60%. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & worldwide copyright & trademark law. The legal version of this story can be accessed at https://www.truebluetribune.com/2017/10/18/spirit-airlines-save-hold-rating-reaffirmed-at-cowen-and-company.html.

Analysts have given a mean recommendation of 2.30 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Outstanding shares refer to a company's stock presently held by all its shareholders, counting share blocks held by institutional shareholders and restricted shares owned by the company's officers and insiders. State of New Jersey Common Pension Fund D boosted its position in shares of Spirit Airlines by 127.3% in the 2nd quarter. Principal Financial Group Inc. now owns 11,995 shares of the transportation company's stock worth $637,000 after buying an additional 2,473 shares in the last quarter. The third largest holder is Wellington Management Group Llp, which now holds $137.85 million worth of this stock and that ownership represents almost 5.7% of its market capitalization. Public Employees Retirement System of OH now owns 96,711 shares of the transportation company's stock worth $5,132,000 after buying an additional 246 shares in the last quarter. The value of the investment in (SAVE) went from $391,000 to $4,587,000 a change of 1,073.1% since the last quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company's stock worth $113,000 after purchasing an additional 344 shares in the last quarter. As of quarter end Cantab Capital Partners Llp had acquired 29,019 shares growing its position 198.9%.

University of MI professor and noted insider trading researcher discovered that when insiders bought shares of their own companies, the stocks outperformed the total market by 8.9% over the next 12-month period. Finally, FMR LLC boosted its position in Spirit Airlines by 9.8% during the fourth quarter. Franklin Resources Inc. now owns 2,128,314 shares of the transportation company's stock worth $109,927,000 after buying an additional 82,438 shares in the last quarter. Sg Americas Secs Lc stated it has 0% of its portfolio in Spirit Airlines Incorporated (NASDAQ:SAVE).

Nevertheless, the company's revenue passenger miles in September hiked 5.9% thanks to an 8.9% gain in overall capacity. As of December 31, 2016, the Business's all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America.



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