Market cap of Spirit Airlines Inc. [SAVE] reaches 2.45B – now what?



Spirit Airlines Inc. [NYSE: SAVE] price plunged by -1.42 percent to reach at -$0.32. The company report on November 15, 2021 that Calling all spontaneous travelers; Spirit Airlines giving away ‘Spiritaneous’ flights at MIA to celebrate 19 new routes.

After starting MIA service last month, 19 more routes will soon take flight. On Nov. 17, Guests are invited to come to MIA with bags packed for a chance to win one of 19 pairs of round-trip tickets and take off on the same day.

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Florida’s Hometown Airline is giving South Florida travelers the gift of More Go following its initial entry into Miami International Airport (MIA) in October. Spirit Airlines (NYSE: SAVE) will launch many more nonstop routes from MIA this week, gradually increasing to a total of 31 destinations served from MIA. To celebrate, Spirit is bringing back “Spiritaneous” — a giveaway named after the spontaneous trip participants take immediately after winning.

A sum of 4017359 shares traded at recent session while its average daily volume was at 4.16M shares. Spirit Airlines Inc. shares reached a high of $23.12 and dropped to a low of $22.13 until finishing in the latest session at $22.24.

The one-year SAVE stock forecast points to a potential upside of 31.99. The average equity rating for SAVE stock is currently 2.50, 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 $32.70 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.

JP Morgan have made an estimate for Spirit Airlines Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 01, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price from $40 to $42. The new note on the price target was released on June 15, 2021, representing the official price target for Spirit Airlines Inc. stock. Previously, the target price had yet another raise to $44, while MKM Partners analysts kept a Buy rating on SAVE stock.

The Average True Range (ATR) for Spirit Airlines Inc. is set at 0.82, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 0.89. The Price to Book ratio for the last quarter was 1.10, with the Price to Cash per share for the same quarter was set at 14.89. Price to Free Cash Flow for SAVE in the course of the last twelve months was 8.39 with Quick ratio for the last quarter at 1.60.

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 -3.47. With this latest performance, SAVE shares dropped by -3.09% in over the last four-week period, additionally sinking by -37.69% over the last 6 months – not to mention a rise of 5.55% 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 37.62, with the RSI for the last a single of trading hit 33.70, and the three-weeks RSI is set at 39.67 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 24.41, while it was recorded at 22.57 for the last single week of trading, and 30.32 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 1.60 and a Current Ratio set at 1.60.


With the latest financial reports released by the company, Spirit Airlines Inc. posted -2.32/share EPS, while the average EPS was predicted by analysts to be reported at -2.64/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.10%. 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.

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Spirit Airlines Inc. [SAVE] Insider Position Details

There are presently around $1,548 million, or 64.90% of SAVE stock, in the hands of institutional investors. The top three institutional holders of SAVE stocks are: VANGUARD GROUP INC with ownership of 9,733,488, which is approximately 0.502% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 8,952,936 shares of the stock with an approximate value of $199.11 million in SAVE stocks shares; and FMR LLC, currently with $142.06 million in SAVE stock with ownership of nearly 0.395% of the company’s market capitalization.

Positions in Spirit Airlines Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 103 institutional holders increased their position in Spirit Airlines Inc. [NYSE:SAVE] by around 11,578,409 shares. Additionally, 150 investors decreased positions by around 10,807,265 shares, while 55 investors held positions by with 47,203,601 shares. The mentioned changes placed institutional holdings at 69,589,275 shares, according to the latest SEC report filing. SAVE stock had 37 new institutional investments in for a total of 4,388,481 shares, while 62 institutional investors sold positions of 4,102,613 shares during the same period.



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