Spirit Airlines Inc. [NYSE: SAVE] closed the trading session at $24.05 on 08/30/21. The day’s price range saw the stock hit a low of $23.95, while the highest price level was $25.005. The company report on July 29, 2021 that Spirit Airlines Reports Second Quarter 2021 Results.
Spirit Airlines, Inc. (NYSE: SAVE) reported second quarter 2021 financial results.
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Ended the second quarter 2021 with $2.2 billion of unrestricted cash, cash equivalents, short-term investment securities and liquidity available under the Company’s revolving credit facility.
The stocks have a year to date performance of -1.64 percent and weekly performance of 0.71 percent. The stock has been moved at -33.82 percent over the last six months. The stock has performed -10.86 percent around the most recent 30 days and changed -34.93 percent over the most recent 3-months.
If compared to the average trading volume of 3.96M shares, SAVE reached to a volume of 3698380 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 $39.10 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 2.50. 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.
Citigroup have made an estimate for Spirit Airlines Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 15, 2021. While these analysts kept the previous recommendation, MKM Partners raised their target price to Buy. The new note on the price target was released on June 10, 2021, representing the official price target for Spirit Airlines Inc. stock. Previously, the target price had yet another raise to $35, while Wolfe Research analysts kept a Peer Perform rating on SAVE stock.
The Average True Range (ATR) for Spirit Airlines Inc. is set at 1.05, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 1.16. The Price to Book ratio for the last quarter was 1.16, with the Price to Cash per share for the same quarter was set at 18.46. Price to Free Cash Flow for SAVE in the course of the last twelve months was 21.41 with Quick ratio for the last quarter at 1.50.
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 0.71. With this latest performance, SAVE shares dropped by -10.86% in over the last four-week period, additionally sinking by -33.82% over the last 6 months – not to mention a rise of 30.07% 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 39.53, with the RSI for the last a single of trading hit 40.90, and the three-weeks RSI is set at 38.83 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 27.61, while it was recorded at 24.62 for the last single week of trading, and 30.51 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 -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 1.50 and a Current Ratio set at 1.50.
Spirit Airlines Inc. [SAVE]: Insider Ownership positions
There are presently around $1,649 million, or 64.10% of SAVE stock, in the hands of institutional investors. The top three institutional holders of SAVE stocks are: VANGUARD GROUP INC with ownership of 9,684,912, which is approximately 12.127% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 9,200,740 shares of the stock with an approximate value of $221.28 million in SAVE stocks shares; and FMR LLC, currently with $153.01 million in SAVE stock with ownership of nearly -20.836% 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 131 institutional holders increased their position in Spirit Airlines Inc. [NYSE:SAVE] by around 10,072,198 shares. Additionally, 140 investors decreased positions by around 10,097,769 shares, while 53 investors held positions by with 48,413,351 shares. The mentioned changes placed institutional holdings at 68,583,318 shares, according to the latest SEC report filing. SAVE stock had 51 new institutional investments in for a total of 2,765,924 shares, while 51 institutional investors sold positions of 1,553,250 shares during the same period.