Spirit Airlines Incorporated (SAVE) was Initiated by Imperial Capital to “Outperform” and the brokerage firm has set the Price Target at $51. Imperial Capital advised their investors in a research report released on Sep 29, 2016.
Many Wall Street Analysts have commented on Spirit Airlines Incorporated. Spirit Airlines Incorporated was Upgraded by Raymond James to ” Strong Buy” on Aug 4, 2016. Shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Buy” and Lowered the Price Target to $ 52 from a previous price target of $56 .
On the company’s financial health, Spirit Airlines Incorporated reported $1.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $1.08. The company had revenue of $584.10 million for the quarter, compared to analysts expectations of $585.04 million. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.
Spirit Airlines Incorporated opened for trading at $41.39 and hit $42.5 on the upside on Tuesday, eventually ending the session at $41.95, with a gain of 1.99% or 0.82 points. The heightened volatility saw the trading volume jump to 18,87,112 shares. Company has a market cap of $2,937 M.
In a different news, on Sep 15, 2016, Laurie Villa (VP – Chief HR Officer) sold 300 shares at $38.37 per share price. According to the SEC, on Mar 18, 2016, David G Elkins (director) purchased 1,500 shares at $47.92 per share price. On Mar 8, 2016, John A. Bendoraitis (Senior VP and COO) sold 730 shares at $49.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Spirit Airlines Inc. is an airline company. The Company’s all-Airbus fleet operates more than 300 daily flights to 56 destinations in the United States Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low base fares with a range of optional services. The Company’s route network includes approximately 151 markets served by 56 airports throughout North America Central America South America and the Caribbean. The Company operates international services to Aruba the Bahamas Colombia Costa Rica Dominican Republic El Salvador Guatemala Haiti Honduras Jamaica Mexico Nicaragua Panama Peru and St. Maarten as well as Puerto Rico and the United States Virgin Islands.