Spirit Airlines Inc. [SAVE] Revenue clocked in at $3.74 billion, up 5.13% YTD: What’s Next?


Spirit Airlines Inc. [NYSE: SAVE] surged by $1.69 during the normal trading session on Tuesday and reaching a high of $23.49 during the day while it closed the day at $22.97. The company report on June 20, 2022 that Spirit Airlines Board of Directors to Review Revised Proposal from JetBlue.

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Spirit Airlines, Inc. (“Spirit” or the “Company”) (NYSE: SAVE), today confirmed receipt of a revised proposal from JetBlue Airways (“JetBlue”) (Nasdaq: JBLU) to acquire all of the outstanding shares of Spirit’s common stock.

Consistent with its fiduciary duties, the Spirit Board of Directors will work with its financial and legal advisors to evaluate JetBlue’s revised proposal and pursue the course of action it determines to be in the best interests of Spirit and its stockholders. The Board will conduct the evaluation of JetBlue’s revised proposal in accordance with the terms of the Company’s merger agreement with Frontier Group Holdings, Inc. (“Frontier”) (NASDAQ: ULCC) and provide an update to stockholders ahead of the Special Meeting of Spirit Stockholders scheduled for Thursday, June 30, 2022. Spirit stockholders do not need to take any action at this time.

Spirit Airlines Inc. stock has also gained 8.15% of its value over the past 7 days. However, SAVE stock has inclined by 8.76% in the 3 months of the year. Over the past six months meanwhile, it has gained 5.71% and gained 5.13% year-on date.

The market cap for SAVE stock reached $2.44 billion, with 108.58 million shares outstanding and 108.16 million shares in the current float. Compared to the average trading volume of 4.60M shares, SAVE reached a trading volume of 6485895 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 $28.43 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 June 10, 2022. The new note on the price target was released on April 06, 2022, representing the official price target for Spirit Airlines Inc. stock. On January 13, 2022, analysts decreased their price target for SAVE shares from 31 to 25.

The Average True Range (ATR) for Spirit Airlines Inc. is set at 1.17, with the Price to Sales ratio for SAVE stock in the period of the last 12 months amounting to 0.65. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 12.73.

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 8.15. With this latest performance, SAVE shares gained by 20.32% in over the last four-week period, additionally plugging by 5.71% over the last 6 months – not to mention a drop of -32.60% 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 58.98, with the RSI for the last a single of trading hit 63.26, and the three-weeks RSI is set at 55.88 for Spirit Airlines Inc. [SAVE]. The present Moving Average for the last 50 days of trading for this stock 21.76, while it was recorded at 21.74 for the last single week of trading, and 22.99 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 -13.35 and a Gross Margin at -9.25. Spirit Airlines Inc.’s Net Margin is presently recorded at -14.63.

Return on Equity for this stock declined to -21.66, with Return on Assets sitting at -5.16.

Spirit Airlines Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Spirit Airlines Inc. [SAVE]: Insider Ownership positions

There are presently around $1,620 million, or 70.80% of SAVE stock, in the hands of institutional investors. The top three institutional holders of SAVE stocks are: VANGUARD GROUP INC with ownership of 9,935,537, which is approximately 1.516% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 7,090,197 shares of the stock with an approximate value of $150.88 million in SAVE stocks shares; and FMR LLC, currently with $118.17 million in SAVE stock with ownership of nearly 38.65% of the company’s market capitalization.

Positions in Spirit Airlines Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 120 institutional holders increased their position in Spirit Airlines Inc. [NYSE:SAVE] by around 18,960,437 shares. Additionally, 128 investors decreased positions by around 10,707,124 shares, while 47 investors held positions by with 46,459,290 shares. The mentioned changes placed institutional holdings at 76,126,851 shares, according to the latest SEC report filing. SAVE stock had 47 new institutional investments in for a total of 9,248,953 shares, while 50 institutional investors sold positions of 2,343,680 shares during the same period.