Saturday, November 28, 2020

Spirit Airlines Inc. [SAVE] is -53.91% lower this YTD. Is it still time to buy?

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Spirit Airlines Inc. [NYSE: SAVE] surged by $0.62 during the normal trading session on Friday and reaching a high of $18.70 during the day while it closed the day at $18.58. The company report on October 22, 2020 that Spirit Airlines Unveils All-New Free Spirit® Loyalty Program with the Fastest Way to Earn Rewards and Status.

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Spirit Airlines Inc. stock has also gained 14.83% of its value over the past 7 days. However, SAVE stock has inclined by 15.05% in the 3 months of the year. Over the past six months meanwhile, it has gained 51.67% and lost -53.91% year-on date.

The market cap for SAVE stock reached $1.75 billion, with 97.67 million shares outstanding and 88.15 million shares in the current float. Compared to the average trading volume of 9.54M shares, SAVE reached a trading volume of 10840553 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $18.64 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 2.80. 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.

Evercore ISI have made an estimate for Spirit Airlines Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 08, 2020. While these analysts kept the previous recommendation, JP Morgan raised their target price from $14 to $19. The new note on the price target was released on October 07, 2020, representing the official price target for Spirit Airlines Inc. stock. Previously, the target price had yet another raise to $29, while Seaport Global Securities analysts kept a Buy rating on SAVE stock.

The Average True Range (ATR) for Spirit Airlines Inc. is set at 0.86, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 0.61. The Price to Book ratio for the last quarter was 0.63, with the Price to Cash per share for the same quarter was set at 13.07.

SAVE stock trade performance evaluation

Spirit Airlines Inc. [SAVE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.83. With this latest performance, SAVE shares gained by 18.27% in over the last four-week period, additionally plugging by 51.67% over the last 6 months – not to mention a drop of -50.13% 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 62.50, with the RSI for the last a single of trading hit 68.24, and the three-weeks RSI is set at 58.62 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 17.15, while it was recorded at 17.29 for the last single week of trading, and 20.18 for the last 200 days.

Spirit Airlines Inc. [SAVE]: An insightful look at the core 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 per share (EPS) analysis for Spirit Airlines Inc. [SAVE] stock

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.

Spirit Airlines Inc. [SAVE]: Insider Ownership positions

There are presently around $903 million, or 50.80% 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 0.20% of the total institutional ownership; FMR LLC, holding 6,179,786 shares of the stock with an approximate value of $114.82 million in SAVE stocks shares; and BLACKROCK INC., currently with $113.28 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 127 institutional holders increased their position in Spirit Airlines Inc. [NYSE:SAVE] by around 11,715,572 shares. Additionally, 105 investors decreased positions by around 18,892,525 shares, while 28 investors held positions by with 18,010,747 shares. The mentioned changes placed institutional holdings at 48,618,844 shares, according to the latest SEC report filing. SAVE stock had 47 new institutional investments in for a total of 1,459,868 shares, while 57 institutional investors sold positions of 5,871,941 shares during the same period.

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