Spirit Airlines Inc. [NYSE: SAVE] loss -2.65% or -0.43 points to close at $15.81 with a heavy trading volume of 11863022 shares. The company report on July 22, 2020 that Spirit Airlines Reports Second Quarter 2020 Results.
Spirit Airlines, Inc. (NYSE: SAVE) today reported second quarter 2020 financial results.
Ended the second quarter 2020 with $1.2 billion of unrestricted cash and short-term investments.
It opened the trading session at $16.04, the shares rose to $16.265 and dropped to $15.42, the range by which the price of stock traded the whole day. The daily chart for SAVE points out that the company has recorded -61.50% loss over the past six months. However, it is still -125.53% lower than its most recent low trading price.
If we look at the average trading volume of 25.92M shares, SAVE reached to a volume of 11863022 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Spirit Airlines Inc. [SAVE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SAVE shares is $17.85 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SAVE stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Seaport Global Securities have made an estimate for Spirit Airlines Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 17, 2020. The new note on the price target was released on June 12, 2020, representing the official price target for Spirit Airlines Inc. stock.
The Average True Range (ATR) for Spirit Airlines Inc. is set at 1.15, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 0.50. The Price to Book ratio for the last quarter was 0.54, with the Price to Cash per share for the same quarter was set at 13.55.
Trading performance analysis for SAVE stock
Spirit Airlines Inc. [SAVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.01. With this latest performance, SAVE shares dropped by -10.83% in over the last four-week period, additionally sinking by -61.50% over the last 6 months – not to mention a drop of -62.69% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SAVE stock in for the last two-week period is set at 43.93, with the RSI for the last a single of trading hit 37.95, and the three-weeks RSI is set at 46.30 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 17.22, while it was recorded at 16.24 for the last single week of trading, and 26.58 for the last 200 days.
Spirit Airlines Inc. [SAVE]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Spirit Airlines Inc. [SAVE] shares currently have an operating margin of +13.55 and a Gross Margin at +17.57. Spirit Airlines Inc.’s Net Margin is presently recorded at +8.75.
Return on Total Capital for SAVE is now 10.45, given the latest momentum, and Return on Invested Capital for the company is 7.14. Return on Equity for this stock inclined to 16.00, with Return on Assets sitting at 5.25. When it comes to the capital structure of this company, Spirit Airlines Inc. [SAVE] has a Total Debt to Total Equity ratio set at 157.34. Additionally, SAVE Total Debt to Total Capital is recorded at 61.14, with Total Debt to Total Assets ending up at 48.08. Long-Term Debt to Equity for the company is recorded at 140.56, with the Long-Term Debt to Total Capital now at 54.62.
Reflecting on the efficiency of the workforce at the company, Spirit Airlines Inc. [SAVE] managed to generate an average of $37,509 per employee. Receivables Turnover for the company is 53.77 with a Total Asset Turnover recorded at a value of 0.60.Spirit Airlines Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.
Spirit Airlines Inc. [SAVE]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Spirit Airlines Inc. posted 1.32/share EPS, while the average EPS was predicted by analysts to be reported at 1.23/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SAVE.
An analysis of insider ownership at Spirit Airlines Inc. [SAVE]
There are presently around $879 million, or 64.10% of SAVE stock, in the hands of institutional investors. The top three institutional holders of SAVE stocks are: FMR LLC with ownership of 10,180,204, which is approximately -0.847% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 6,361,708 shares of the stock with an approximate value of $100.58 million in SAVE stocks shares; and BLACKROCK INC., currently with $78.42 million in SAVE stock with ownership of nearly -3.284% of the company’s market capitalization.
Positions in Spirit Airlines Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 121 institutional holders increased their position in Spirit Airlines Inc. [NYSE:SAVE] by around 7,623,501 shares. Additionally, 144 investors decreased positions by around 19,810,402 shares, while 28 investors held positions by with 28,188,726 shares. The mentioned changes placed institutional holdings at 55,622,629 shares, according to the latest SEC report filing. SAVE stock had 59 new institutional investments in for a total of 2,999,347 shares, while 77 institutional investors sold positions of 9,181,541 shares during the same period.