Spirit Airlines Incorporated (SAVE) is Reiterated by Imperial Capital to Outperform, Raises Price Target to $ 68

Spirit Airlines Incorporated (SAVE) was Reiterated by Imperial Capital to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 68 from a previous price target of $58 . Imperial Capital advised their investors in a research report released on Nov 22, 2016.

Many Wall Street Analysts have commented on Spirit Airlines Incorporated. Spirit Airlines Incorporated was Downgraded by Citigroup to ” Neutral” on Nov 18, 2016. Company shares were Reiterated by Imperial Capital on Oct 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 58 from a previous price target of $51 .Company shares were Reiterated by Deutsche Bank on Oct 26, 2016 to “Buy”, Firm has raised the Price Target to $ 56 from a previous price target of $53 .

On the company’s financial health, Spirit Airlines Incorporated reported $1.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $1.17. The company had revenue of $621.33 million for the quarter, compared to analysts expectations of $617.65 million. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 EPS.

Spirit Airlines Incorporated closed down -0.13 points or -0.24% at $53.74 with 7,82,082 shares getting traded on Monday. Post opening the session at $53.3, the shares hit an intraday low of $53.14 and an intraday high of $53.87 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Nov 18, 2016, Robert Schroeter (VP, Consumer Marketing) sold 3,500 shares at $53.76 per share price. According to the SEC, on Nov 14, 2016, John A. Bendoraitis (Senior VP and COO) sold 1,470 shares at $51.49 per share price. On Nov 14, 2016, Scott Haralson (VP, FP&A) sold 2,951 shares at $51.32 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.

Spirit Airlines Incorporated

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