Spirit Airlines, Inc. (NYSE:SAVE) Given Average Recommendation of “Strong Sell” by Brokerages

Spirit Airlines, Inc. (NYSE:SAVE) has been assigned an average recommendation of “Strong Sell” from the nine brokerages that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $2.00.

A number of equities analysts have recently weighed in on the company. Barclays dropped their price objective on Spirit Airlines from $3.00 to $0.50 and set an “underweight” rating for the company in a research note on Thursday, November 14th. TD Cowen dropped their price target on Spirit Airlines from $2.00 to $1.00 and set a “sell” rating for the company in a research note on Wednesday, November 13th. Finally, Susquehanna reduced their price objective on shares of Spirit Airlines from $2.25 to $1.50 and set a “negative” rating on the stock in a research report on Wednesday, October 9th.

Institutional Investors Weigh In On Spirit Airlines

Several large investors have recently bought and sold shares of SAVE. Signaturefd LLC grew its stake in shares of 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 buying an additional 4,443 shares in the last quarter. High Note Wealth LLC bought a new stake in Spirit Airlines during the third quarter worth approximately $36,000. SeaCrest Wealth Management LLC bought a new stake in shares of Spirit Airlines in the 2nd quarter valued at approximately $63,000. Nisa Investment Advisors LLC boosted its holdings in shares of Spirit Airlines by 950.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 18,663 shares of the company’s stock worth $68,000 after purchasing an additional 16,886 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Spirit Airlines by 38.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,821 shares of the company’s stock valued at $45,000 after purchasing an additional 5,261 shares during the last quarter. Institutional investors own 58.73% of the company’s stock.

Spirit Airlines Stock Down 5.6 %

Shares of SAVE stock opened at $1.02 on Friday. The company has a debt-to-equity ratio of 3.86, a current ratio of 0.94 and a quick ratio of 0.94. Spirit Airlines has a one year low of $1.02 and a one year high of $17.02. The company’s fifty day moving average price is $1.72 and its 200-day moving average price is $2.53. The company has a market capitalization of $111.71 million, a price-to-earnings ratio of -0.17 and a beta of 1.37.

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.