For Spirit Airlines Inc. [SAVE], Analyst sees a rise to $33. What next?


Spirit Airlines Inc. [NYSE: SAVE] gained 0.18% or 0.04 points to close at $22.53 with a heavy trading volume of 2921804 shares. The company report on December 14, 2021 that Spirit Airlines Giving Memphis Travelers More Convenient, Nonstop Opportunities to Soar.

Spirit Airlines to launch with nonstop service to Las Vegas, Orlando, and Los Angeles in 2022.

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Bright yellow planes will soon be flying into the Home of the Blues for the first time as Spirit Airlines (NYSE: SAVE) today announced the addition of Memphis to its route map, launching three daily, nonstop routes to Las Vegas (LAS) and Orlando (MCO) in April 2022, followed by Los Angeles (LAX) in June 2022. Memphis will be the second Tennessee airport Spirit serves following its entrance into Nashville in 2019.

It opened the trading session at $22.32, the shares rose to $22.89 and dropped to $22.21, the range by which the price of stock traded the whole day. The daily chart for SAVE points out that the company has recorded -26.56% loss over the past six months. However, it is still -15.42% lower than its most recent low trading price.

If we look at the average trading volume of 4.84M shares, SAVE reached to a volume of 2921804 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $33.00 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.

Seaport Research Partners have made an estimate for Spirit Airlines Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 13, 2021. The new note on the price target was released on December 06, 2021, representing the official price target for Spirit Airlines Inc. stock. Previously, the target price had yet another raise to $34, while JP Morgan analysts kept a Neutral rating on SAVE stock. On June 15, 2021, analysts increased their price target for SAVE shares from 40 to 42.

The Average True Range (ATR) for Spirit Airlines Inc. is set at 1.02, 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 1.11, with the Price to Cash per share for the same quarter was set at 15.18. Price to Free Cash Flow for SAVE in the course of the last twelve months was 8.33 with Quick ratio for the last quarter at 1.60.

Trading performance analysis for SAVE stock

Spirit Airlines Inc. [SAVE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.18. With this latest performance, SAVE shares gained by 9.37% in over the last four-week period, additionally sinking by -26.56% over the last 6 months – not to mention a drop of -10.13% 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 50.22, with the RSI for the last a single of trading hit 52.06, and the three-weeks RSI is set at 48.83 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 22.74, while it was recorded at 22.64 for the last single week of trading, and 28.80 for the last 200 days.

Spirit Airlines Inc. [SAVE]: A deeper dive into fundamental analysis

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.

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An analysis of insider ownership at Spirit Airlines Inc. [SAVE]

There are presently around $1,565 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 0.20% of the total institutional ownership; BLACKROCK INC., holding 8,952,936 shares of the stock with an approximate value of $201.35 million in SAVE stocks shares; and FMR LLC, currently with $143.65 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 11,578,669 shares. Additionally, 150 investors decreased positions by around 10,807,265 shares, while 55 investors held positions by with 47,205,366 shares. The mentioned changes placed institutional holdings at 69,591,300 shares, according to the latest SEC report filing. SAVE stock had 36 new institutional investments in for a total of 4,386,716 shares, while 62 institutional investors sold positions of 4,102,613 shares during the same period.