Tuesday, September 22, 2020

Spirit Airlines Inc. [SAVE] is -56.36% lower this YTD. Is it still time to buy?

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Spirit Airlines Inc. [NYSE: SAVE] traded at a low on 09/01/20, posting a -1.62 loss after which it closed the day’ session at $17.59. The company report on September 1, 2020 that Spirit Airlines Adds Orange County to Route Map, Expanding Los Angeles-Area Flying.

Spirit’s bright yellow planes arrive at SNA in November, complementing service from LAX and Burbank.

The brightest planes in the sky are soaring over Southern California. Today Spirit Airlines (NYSE: SAVE) announced daily nonstop flights from John Wayne Airport (SNA) to Las Vegas and Oakland beginning Nov. 17.

The results of the trading session contributed to over 9563436 shares changing hands. Over the past one week, the price volatility of Spirit Airlines Inc. stands at 4.22% while the volatility over the past one month is 5.47%.

The market cap for SAVE stock reached $1.54 billion, with 88.67 million shares outstanding and 88.10 million shares in the current float. Compared to the average trading volume of 21.28M shares, SAVE reached a trading volume of 9563436 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 0.91, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 0.54. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 14.05.

How has SAVE stock performed recently?

Spirit Airlines Inc. [SAVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.22. With this latest performance, SAVE shares gained by 14.44% in over the last four-week period, additionally sinking by -33.22% over the last 6 months – not to mention a drop of -51.26% 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 50.19, with the RSI for the last a single of trading hit 49.02, and the three-weeks RSI is set at 51.18 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 17.27, while it was recorded at 17.99 for the last single week of trading, and 24.34 for the last 200 days.

Spirit Airlines Inc. [SAVE]: Deeper insight into the fundamentals

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.

Earnings analysis for Spirit Airlines Inc. [SAVE]

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.

Insider trade positions for Spirit Airlines Inc. [SAVE]

There are presently around $856 million, or 56.30% of SAVE stock, in the hands of institutional investors. The top three institutional holders of SAVE stocks are: VANGUARD GROUP INC with ownership of 7,712,974, which is approximately 21.241% of the company’s market cap and around 0.50% of the total institutional ownership; FMR LLC, holding 6,179,786 shares of the stock with an approximate value of $108.7 million in SAVE stocks shares; and BLACKROCK INC., currently with $107.25 million in SAVE stock with ownership of nearly 22.927% 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 134 institutional holders increased their position in Spirit Airlines Inc. [NYSE:SAVE] by around 11,494,860 shares. Additionally, 106 investors decreased positions by around 19,041,507 shares, while 27 investors held positions by with 18,116,834 shares. The mentioned changes placed institutional holdings at 48,653,201 shares, according to the latest SEC report filing. SAVE stock had 54 new institutional investments in for a total of 1,293,242 shares, while 58 institutional investors sold positions of 5,934,789 shares during the same period.

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