Wolfe Research slashes price target on Spirit Airlines Inc. [SAVE] – find out why.

Spirit Airlines Inc. [NYSE: SAVE] slipped around -0.22 points on Tuesday, while shares priced at $35.15 at the close of the session, down -0.62%. The company report on May 20, 2021 that DreamWorks Animation’s ‘Spirit Untamed’ Hitches a Ride on Spirit Airlines to Inspire Adventure.

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Guests can enter the Free Spirit Flyaway promotion for a chance to win a trip to Universal Orlando Resort in Orlando, Fla.

A headstrong girl named Lucky and a wild Mustang named Spirit are soaring sky high and you can spot both of them at an airport near you thanks to Spirit Airlines (NYSE: SAVE), Universal Pictures, DreamWorks Animation and Universal Orlando Resort., Spirit Airlines unveiled a plane featuring two unique designs from DreamWorks Animation’s new epic adventure, “Spirit Untamed,” which arrives in theaters June 4, 2021.

Spirit Airlines Inc. stock is now 43.76% up from its year-to-date (YTD) trading value. SAVE Stock saw the intraday high of $36.78 and lowest of $35.11 per share. The company’s 52-week high price is 40.77, which means current price is +53.69% above from all time high which was touched on 03/18/21.

Compared to the average trading volume of 4.01M shares, SAVE reached a trading volume of 3566630 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 $40.45 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 2.60. 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.

Wolfe Research have made an estimate for Spirit Airlines Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on May 14, 2021. The new note on the price target was released on April 28, 2021, representing the official price target for Spirit Airlines Inc. stock. Previously, the target price had yet another raise from $31 to $54, while JP Morgan kept a Overweight rating on SAVE stock.

The Average True Range (ATR) for Spirit Airlines Inc. is set at 1.43, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 2.57. The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 17.13.

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 -1.57. With this latest performance, SAVE shares dropped by -6.54% in over the last four-week period, additionally plugging by 72.90% over the last 6 months – not to mention a rise of 185.54% 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 49.43, with the RSI for the last a single of trading hit 50.88, and the three-weeks RSI is set at 49.53 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 36.18, while it was recorded at 35.20 for the last single week of trading, and 26.44 for the last 200 days.

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

Spirit Airlines Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.

Earnings analysis for Spirit Airlines Inc. [SAVE]

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.

Insider trade positions for Spirit Airlines Inc. [SAVE]

There are presently around $2,403 million, or 63.90% of SAVE stock, in the hands of institutional investors. The top three institutional holders of SAVE stocks are: VANGUARD GROUP INC with ownership of 8,637,467, which is approximately 3.318% of the company’s market cap and around 0.60% of the total institutional ownership; FMR LLC, holding 8,036,857 shares of the stock with an approximate value of $282.5 million in SAVE stocks shares; and BLACKROCK INC., currently with $271.92 million in SAVE stock with ownership of nearly 5.274% of the company’s market capitalization.

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168 institutional holders increased their position in Spirit Airlines Inc. [NYSE:SAVE] by around 15,268,094 shares. Additionally, 106 investors decreased positions by around 7,449,825 shares, while 43 investors held positions by with 45,650,506 shares. The mentioned changes placed institutional holdings at 68,368,425 shares, according to the latest SEC report filing. SAVE stock had 90 new institutional investments in for a total of 4,918,481 shares, while 46 institutional investors sold positions of 3,647,968 shares during the same period.

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