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Spirit Airlines Incorporated (NASDAQ:SAVE) – Imperial Capital lifted their Q3 2018 earnings per share estimates for shares of Spirit Airlines in a research report issued on Thursday, October 11th, according to Zacks Investment Research. Imperial Capital badyst M. Derchin now forecasts that the transportation company will earn $1.46 per share for the quarter, up from their prior estimate of $1.16. Imperial Capital currently has a “Outperform” rating and a $90.00 target price on the stock. Imperial Capital also issued estimates for Spirit Airlines’ Q4 2018 earnings at $0.61 EPS, FY2018 earnings at $3.62 EPS, Q1 2019 earnings at $0.45 EPS, Q2 2019 earnings at $1.52 EPS, Q3 2019 earnings at $1.87 EPS, Q4 2019 earnings at $1.02 EPS and FY2019 earnings at $4.85 EPS.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Wednesday, October 24th. The transportation company reported $1.47 earnings per share (EPS) for the quarter, beating badysts’ consensus estimates of $1.44 by $0.03. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The firm had revenue of $904.33 million for the quarter, compared to badysts’ expectations of $904.05 million.
Other equities badysts have also recently issued research reports about the stock. TheStreet upgraded shares of Spirit Airlines from a “c+” rating to a “b-” rating in a research report on Thursday. Citigroup boosted their price objective on shares of Spirit Airlines from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, July 12th. Zacks Investment Research upgraded shares of Spirit Airlines from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, September 26th. BidaskClub cut shares of Spirit Airlines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 25th. Finally, Buckingham Research set a $61.00 price target on shares of Spirit Airlines and gave the company a “buy” rating in a research report on Thursday, August 30th. Five research badysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $56.57.
Shares of SAVE stock traded down $0.43 during mid-day trading on Monday, reaching $52.09. The stock had a trading volume of 1,311,200 shares, compared to its average volume of 1,306,626. Spirit Airlines has a 52-week low of $34.08 and a 52-week high of $53.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.
In related news, Director Robert D. Johnson sold 750 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $47.53, for a total transaction of $35,647.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rocky Wiggins sold 566 shares of the business’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $47.89, for a total transaction of $27,105.74. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.
A number of large investors have recently bought and sold shares of SAVE. Strs Ohio bought a new stake in Spirit Airlines during the second quarter worth about $105,000. Point72 Hong Kong Ltd boosted its stake in Spirit Airlines by 147.4% during the second quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock worth $106,000 after acquiring an additional 1,730 shares in the last quarter. Sei Investments Co. boosted its stake in Spirit Airlines by 127.9% during the second quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock worth $143,000 after acquiring an additional 2,208 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Spirit Airlines by 286.2% during the second quarter. BNP Paribas Arbitrage SA now owns 4,445 shares of the transportation company’s stock worth $162,000 after acquiring an additional 3,294 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Spirit Airlines in the second quarter worth approximately $211,000.
About Spirit Airlines
Spirit Airlines, Inc is an airline company. The Company provides air transportation for pbadengers. 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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