Spirit Airlines Inc. [NYSE: SAVE] price surged by 3.89 percent to reach at $1.35. The company report on April 22, 2021 that Spirit Airlines Reports First Quarter 2021 Results.
Spirit Airlines, Inc. (NYSE: SAVE) reported first quarter 2021 financial results.
Ended the first quarter 2021 with $1.9 billion of unrestricted cash, cash equivalents, short-term investment securities and liquidity available under the Company’s revolving credit facility.
A sum of 4139909 shares traded at recent session while its average daily volume was at 4.90M shares. Spirit Airlines Inc. shares reached a high of $36.17 and dropped to a low of $33.71 until finishing in the latest session at $36.02.
The one-year SAVE stock forecast points to a potential upside of 5.46. The average equity rating for SAVE stock is currently 2.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $38.10 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 2.70. 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.
JP Morgan have made an estimate for Spirit Airlines Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 14, 2021. The new note on the price target was released on April 13, 2021, representing the official price target for Spirit Airlines Inc. stock. Previously, the target price had yet another raise to $44, while Deutsche Bank analysts kept a Buy rating on SAVE stock. On February 12, 2021, analysts increased their price target for SAVE shares from 29 to 35.
The Average True Range (ATR) for Spirit Airlines Inc. is set at 1.85, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 1.96. The Price to Book ratio for the last quarter was 1.57, with the Price to Cash per share for the same quarter was set at 19.22.
SAVE Stock Performance Analysis:
Spirit Airlines Inc. [SAVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.38. With this latest performance, SAVE shares dropped by -3.69% in over the last four-week period, additionally plugging by 119.63% over the last 6 months – not to mention a rise of 182.51% 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 47.81, with the RSI for the last a single of trading hit 45.24, and the three-weeks RSI is set at 50.39 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 36.19, while it was recorded at 36.16 for the last single week of trading, and 24.24 for the last 200 days.
Insight into Spirit Airlines Inc. 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.
SAVE Stock EPS
With the latest financial reports released by the company, Spirit Airlines Inc. posted -3.59/share EPS, while the average EPS was predicted by analysts to be reported at -2.66/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -35.00%. 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 Position Details
There are presently around $2,173 million, or 62.40% 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 0.70% of the total institutional ownership; BLACKROCK INC., holding 7,348,387 shares of the stock with an approximate value of $264.69 million in SAVE stocks shares; and U S GLOBAL INVESTORS INC, currently with $165.74 million in SAVE stock with ownership of nearly New of the company’s market capitalization.
Positions in Spirit Airlines Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 126 institutional holders increased their position in Spirit Airlines Inc. [NYSE:SAVE] by around 16,134,475 shares. Additionally, 98 investors decreased positions by around 7,112,559 shares, while 46 investors held positions by with 37,085,413 shares. The mentioned changes placed institutional holdings at 60,332,447 shares, according to the latest SEC report filing. SAVE stock had 70 new institutional investments in for a total of 9,330,806 shares, while 37 institutional investors sold positions of 1,960,853 shares during the same period.