Market Analysts see Spirit Airlines Inc. [SAVE] gaining to $44. Time to buy?

Spirit Airlines Inc. [NYSE: SAVE] traded at a low on 03/05/21, posting a -1.26 loss after which it closed the day’ session at $34.42. The company report on February 26, 2021 that Spirit Airlines Named One of FORTUNE’s World’s Most Admired® Companies for 2021.

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Spirit Airlines (NYSE: SAVE) announced being named to FORTUNE’s 2021 list of World’s Most Admired® Companies. Spirit is one of only eight airlines worldwide and three airlines in the U.S. to be included on the list, which serves as one of the definitive benchmarks of corporate reputation.

“Landing a spot on FORTUNE’s list shows we’re succeeding in our mission to provide the best value in the sky,” Spirit President and CEO Ted Christie said. “It’s gratifying to have business leaders around the world recognize our Team Members’ talent and dedication, the strength and resilience of our business model, and our relentless focus on investing in our Guests.”.

The results of the trading session contributed to over 6447543 shares changing hands. Over the past one week, the price volatility of Spirit Airlines Inc. stands at 6.80% while the volatility over the past one month is 6.28%.

The market cap for SAVE stock reached $3.41 billion, with 97.78 million shares outstanding and 97.41 million shares in the current float. Compared to the average trading volume of 5.85M shares, SAVE reached a trading volume of 6447543 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 $30.10 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.

Deutsche Bank have made an estimate for Spirit Airlines Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 22, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $29 to $35. The new note on the price target was released on February 12, 2021, representing the official price target for Spirit Airlines Inc. stock. Previously, the target price had yet another raise to $34, while Vertical Research analysts kept a Hold rating on SAVE stock.

The Average True Range (ATR) for Spirit Airlines Inc. is set at 2.16, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 1.88. The Price to Book ratio for the last quarter was 1.50, with the Price to Cash per share for the same quarter was set at 19.15.

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 -4.07. With this latest performance, SAVE shares gained by 18.08% in over the last four-week period, additionally plugging by 95.46% over the last 6 months – not to mention a rise of 59.80% 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 56.74, with the RSI for the last a single of trading hit 51.18, and the three-weeks RSI is set at 59.00 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 29.11, while it was recorded at 35.54 for the last single week of trading, and 21.04 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 -44.65 and a Gross Margin at -39.96. Spirit Airlines Inc.’s Net Margin is presently recorded at -23.68.

Return on Total Capital for SAVE is now -12.53, given the latest momentum, and Return on Invested Capital for the company is -7.14. Return on Equity for this stock declined to -19.01, with Return on Assets sitting at -5.23. When it comes to the capital structure of this company, Spirit Airlines Inc. [SAVE] has a Total Debt to Total Equity ratio set at 214.84. Additionally, SAVE Total Debt to Total Capital is recorded at 68.24, with Total Debt to Total Assets ending up at 53.83. Long-Term Debt to Equity for the company is recorded at 191.81, with the Long-Term Debt to Total Capital now at 60.92.

Reflecting on the efficiency of the workforce at the company, Spirit Airlines Inc. [SAVE] managed to generate an average of -$49,321 per employee. Receivables Turnover for the company is 12.69 with a Total Asset Turnover recorded at a value of 0.22.Spirit Airlines Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.80.

Earnings analysis for Spirit Airlines Inc. [SAVE]

With the latest financial reports released by the company, Spirit Airlines Inc. posted -0.86/share EPS, while the average EPS was predicted by analysts to be reported at -0.62/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -38.70%. 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 $2,061 million, or 62.60% of SAVE stock, in the hands of institutional investors. The top three institutional holders of SAVE stocks are: VANGUARD GROUP INC with ownership of 8,360,066, which is approximately 9.294% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 7,348,387 shares of the stock with an approximate value of $252.93 million in SAVE stocks shares; and U S GLOBAL INVESTORS INC, currently with $158.38 million in SAVE stock with ownership of nearly New of the company’s market capitalization.

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Positions in Spirit Airlines Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 123 institutional holders increased their position in Spirit Airlines Inc. [NYSE:SAVE] by around 15,624,481 shares. Additionally, 104 investors decreased positions by around 7,810,543 shares, while 46 investors held positions by with 36,450,386 shares. The mentioned changes placed institutional holdings at 59,885,410 shares, according to the latest SEC report filing. SAVE stock had 67 new institutional investments in for a total of 8,821,258 shares, while 42 institutional investors sold positions of 2,247,746 shares during the same period.

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