Spirit Airlines (NYSE:SAVE) Given New $1.00 Price Target at TD Cowen

Spirit Airlines (NYSE:SAVE) had its price target decreased by TD Cowen from $2.00 to $1.00 in a research note issued to investors on Wednesday morning,Benzinga reports. TD Cowen currently has a sell rating on the stock.

A number of other equities analysts also recently weighed in on the company. Bank of America cut their target price on Spirit Airlines from $3.25 to $2.75 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Susquehanna reduced their price objective on Spirit Airlines from $2.25 to $1.50 and set a “negative” rating for the company in a research note on Wednesday, October 9th. Finally, Citigroup lowered their target price on Spirit Airlines from $3.50 to $2.75 and set a “sell” rating on the stock in a research note on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $2.36.

Spirit Airlines Trading Down 0.7 %

Shares of Spirit Airlines stock opened at $1.30 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 3.86. The company has a market capitalization of $142.40 million, a P/E ratio of -0.21 and a beta of 1.37. The stock has a fifty day simple moving average of $2.32 and a 200 day simple moving average of $2.94. Spirit Airlines has a 12-month low of $1.13 and a 12-month high of $17.02.

Institutional Investors Weigh In On Spirit Airlines

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in Spirit Airlines by 127.6% in the 2nd quarter. Signaturefd LLC now owns 7,926 shares of the company’s stock worth $29,000 after purchasing an additional 4,443 shares during the period. Natixis increased its stake in Spirit Airlines by 29.1% in the 1st quarter. Natixis now owns 12,480 shares of the company’s stock worth $60,000 after acquiring an additional 2,815 shares during the last quarter. Wellington Wealth Strategies LLC. bought a new position in Spirit Airlines in the 1st quarter worth about $68,000. High Note Wealth LLC bought a new stake in shares of Spirit Airlines during the 3rd quarter valued at about $36,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Spirit Airlines during the 2nd quarter valued at about $63,000. Hedge funds and other institutional investors 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.