Spirit Airlines (NYSE:SAVE) Price Target Lowered to $3.00 at Deutsche Bank Aktiengesellschaft

Spirit Airlines (NYSE:SAVE) had its target price lowered by investment analysts at Deutsche Bank Aktiengesellschaft from $4.00 to $3.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential downside of 11.89% from the company’s current price.

Other research analysts have also issued research reports about the company. Seaport Res Ptn lowered Spirit Airlines from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 17th. Citigroup reduced their price objective on Spirit Airlines from $4.00 to $3.85 and set a “sell” rating for the company in a research report on Wednesday, April 17th. Susquehanna reduced their price objective on Spirit Airlines from $5.00 to $4.00 and set a “negative” rating for the company in a research report on Tuesday, April 9th. Barclays started coverage on Spirit Airlines in a research report on Wednesday, March 27th. They set an “underweight” rating and a $4.00 price objective for the company. Finally, Bank of America started coverage on Spirit Airlines in a research report on Wednesday, January 17th. They set an “underperform” rating and a $5.00 price objective for the company. Five analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, Spirit Airlines currently has a consensus rating of “Reduce” and an average target price of $3.62.

Spirit Airlines Stock Up 2.6 %

Shares of NYSE SAVE opened at $3.41 on Tuesday. Spirit Airlines has a one year low of $3.18 and a one year high of $19.69. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.90 and a quick ratio of 0.90. The business’s fifty day moving average price is $4.47 and its 200-day moving average price is $9.11. The stock has a market capitalization of $372.85 million, a PE ratio of -0.82 and a beta of 1.41.

Spirit Airlines (NYSE:SAVE) last released its quarterly earnings data on Monday, May 6th. The company reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.45) by ($0.01). Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 26.38%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm posted ($0.82) earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Spirit Airlines will post -2.79 EPS for the current year.

Hedge Funds Weigh In On Spirit Airlines

A number of institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new position in shares of Spirit Airlines during the 1st quarter valued at about $352,000. Quantbot Technologies LP raised its stake in shares of Spirit Airlines by 30.4% during the 1st quarter. Quantbot Technologies LP now owns 74,489 shares of the company’s stock valued at $361,000 after buying an additional 17,350 shares during the last quarter. High Note Wealth LLC purchased a new position in shares of Spirit Airlines during the 1st quarter valued at about $73,000. BNP Paribas Financial Markets raised its stake in shares of Spirit Airlines by 2,369.9% during the 1st quarter. BNP Paribas Financial Markets now owns 733,846 shares of the company’s stock valued at $3,552,000 after buying an additional 704,134 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Spirit Airlines during the 1st quarter valued at about $148,000. 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.