Spirit Airlines (NASDAQ:SAVE) Downgraded by BidaskClub to “Sell”

Spirit Airlines (NASDAQ:SAVE) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday, June 26th, BidAskClub reports.

SAVE has been the subject of a number of other reports. Barclays reiterated a “buy” rating and issued a $75.00 price target on shares of Weibo in a research report on Monday, March 11th. Bank of America upgraded shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $170.00 to $215.00 in a research report on Thursday, April 25th. Raymond James set a $33.00 price target on shares of LKQ and gave the company a “buy” rating in a research report on Friday, April 26th. Goldman Sachs Group upgraded shares of Exelon from a “neutral” rating to a “buy” rating and lifted their price target for the company from $48.00 to $52.00 in a research report on Thursday, June 6th. Finally, Morgan Stanley lifted their price objective on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $69.07.

SAVE stock traded up $0.63 during trading hours on Wednesday, reaching $51.28. 556,768 shares of the stock were exchanged, compared to its average volume of 1,076,492. The firm’s 50-day simple moving average is $49.28. Spirit Airlines has a 12 month low of $39.75 and a 12 month high of $65.35.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.84 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. The company had revenue of $855.80 million during the quarter, compared to the consensus estimate of $855.77 million. During the same quarter in the previous year, the business earned $0.44 EPS. Spirit Airlines’s revenue was up 21.5% on a year-over-year basis.

In related news, SVP Laurie Villa sold 3,800 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $53.69, for a total transaction of $204,022.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert D. Johnson sold 750 shares of Spirit Airlines stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $45.97, for a total transaction of $34,477.50. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Spirit Airlines by 84.5% in the 4th quarter. SG Americas Securities LLC now owns 7,710 shares of the transportation company’s stock worth $447,000 after acquiring an additional 3,531 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Spirit Airlines in the 4th quarter valued at $5,218,000. BlackRock Inc. boosted its holdings in Spirit Airlines by 6.5% in the 4th quarter. BlackRock Inc. now owns 4,810,444 shares of the transportation company’s stock valued at $278,621,000 after purchasing an additional 292,498 shares during the period. Ffcm LLC boosted its holdings in Spirit Airlines by 2,695.4% in the 4th quarter. Ffcm LLC now owns 3,019 shares of the transportation company’s stock valued at $175,000 after purchasing an additional 2,911 shares during the period. Finally, Hosking Partners LLP boosted its holdings in Spirit Airlines by 7.9% in the 4th quarter. Hosking Partners LLP now owns 185,764 shares of the transportation company’s stock valued at $10,759,000 after purchasing an additional 13,562 shares during the period.

About Spirit Airlines

Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.

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Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

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