Price Action Alert: Could Spirit Airlines Incorporated Change Direction After Today’s Big Increase?

Price Action Alert: Could Spirit Airlines Incorporated Change Direction After Today's Big Increase?

The stock of Spirit Airlines Incorporated (NASDAQ:SAVE) is a huge mover today! About 1.87M shares traded hands or 41.67% up from the average. Spirit Airlines Incorporated (NASDAQ:SAVE) has declined 6.15% since March 15, 2016 and is downtrending. It has underperformed by 11.63% the S&P500.
The move comes after 7 months positive chart setup for the $3.19 billion company. It was reported on Oct, 18 by Barchart.com. We have $59.68 PT which if reached, will make NASDAQ:SAVE worth $988.90 million more.

Analysts await Spirit Airlines Incorporated (NASDAQ:SAVE) to report earnings on October, 25. They expect $1.07 earnings per share, down 20.74% or $0.28 from last year’s $1.35 per share. SAVE’s profit will be $74.92M for 10.64 P/E if the $1.07 EPS becomes a reality. After $1.11 actual earnings per share reported by Spirit Airlines Incorporated for the previous quarter, Wall Street now forecasts -3.60% negative EPS growth.

Spirit Airlines Incorporated (NASDAQ:SAVE) Ratings Coverage

Out of 11 analysts covering Spirit Airlines (NASDAQ:SAVE), 7 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 64% are positive. Spirit Airlines has been the topic of 30 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The company was upgraded on Wednesday, January 20 by Citigroup. The stock has “Strong Buy” rating given by Raymond James on Thursday, August 4. The firm has “Outperform” rating given on Monday, June 20 by Credit Suisse. Citigroup maintained Spirit Airlines Incorporated (NASDAQ:SAVE) on Tuesday, July 19 with “Buy” rating. The company was downgraded on Wednesday, April 20 by JP Morgan. On Friday, October 16 the stock rating was downgraded by Raymond James to “Mkt Perform”. Stifel Nicolaus upgraded Spirit Airlines Incorporated (NASDAQ:SAVE) rating on Tuesday, December 22. Stifel Nicolaus has “Buy” rating and $60 price target. The stock of Spirit Airlines Incorporated (NASDAQ:SAVE) earned “Neutral” rating by Citigroup on Friday, September 25. The firm has “Peer Perform” rating given on Monday, October 26 by Wolfe Research. The firm has “Overweight” rating given on Tuesday, November 24 by Barclays Capital.

According to Zacks Investment Research, “Spirit Airlines Inc. operates an airline based in Fort Lauderdale providing travel opportunity principally to and from South Florida, the Caribbean and Latin America. Spirit Airlines Inc. is based in Miramar, Florida.”

Insitutional Activity: The institutional sentiment decreased to 0.87 in 2016 Q2. Its down 0.35, from 1.22 in 2016Q1. The ratio worsened, as 45 funds sold all Spirit Airlines Incorporated shares owned while 82 reduced positions. 35 funds bought stakes while 76 increased positions. They now own 67.97 million shares or 1.84% more from 66.74 million shares in 2016Q1.
Granahan Inv Mngmt Inc Ma last reported 32,000 shares in the company. Ruggie Capital Grp Inc holds 696 shares or 0.03% of its portfolio. Moreover, Pier Limited Liability Company has 0.99% invested in Spirit Airlines Incorporated (NASDAQ:SAVE) for 120,608 shares. Paloma Prtnrs Commerce reported 25,585 shares or 0.01% of all its holdings. Canada Pension Plan Board last reported 0% of its portfolio in the stock. Rhumbline Advisers has 0.01% invested in the company for 52,978 shares. First Personal Financial Ser accumulated 358 shares or 0.01% of the stock. Alps reported 8,516 shares or 0% of all its holdings. Emerald Mutual Fund Advisers Trust owns 291,997 shares or 0.74% of their US portfolio. Graham Capital Management L P holds 9,400 shares or 0.02% of its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in the company for 490 shares. Moreover, Primecap Mngmt Ca has 0.05% invested in Spirit Airlines Incorporated (NASDAQ:SAVE) for 958,624 shares. Ar Schmeidler Co has 0.22% invested in the company for 21,731 shares. The New York-based Gilder Gagnon Howe Limited Liability Corp has invested 1.58% in Spirit Airlines Incorporated (NASDAQ:SAVE). Artemis Inv Management Ltd Liability Partnership reported 623,790 shares or 0.46% of all its holdings.

Insider Transactions: Since September 13, 2016, the stock had 0 insider purchases, and 1 sale for $11,511 net activity. $11,511 worth of shares were sold by Villa Laurie on Tuesday, September 13.

More notable recent Spirit Airlines Incorporated (NASDAQ:SAVE) news were published by: Fool.com which released: “The Airbus A320neo Arrives at Spirit Airlines Incorporated” on October 16, 2016, also Fool.com with their article: “Where Will Spirit Airlines Incorporated Grow Next?” published on June 08, 2016, Finance.Yahoo.com published: “Spirit Airlines, Inc. (SAVE)” on April 22, 2014. More interesting news about Spirit Airlines Incorporated (NASDAQ:SAVE) were released by: Fool.com and their article: “Investors Don’t Understand Spirit Airlines Incorporated” published on November 03, 2015 as well as Fool.com‘s news article titled: “1 Piece of Great News for Spirit Airlines Incorporated” with publication date: December 22, 2015.

SAVE Company Profile

Spirit Airlines, Inc., incorporated on March 8, 1994, is an airline company. The Company’s all-Airbus fleet operates more than 385 daily flights to 56 destinations in the United States, Caribbean and Latin America. The Company’s ultra-low-cost carrier (ULCC) business model provides low, unbundled base fares that remove components traditionally included in the price of an airline ticket. The Firm offers a range of optional services, allowing clients to save by paying only for the options they choose such as bags, advance seat assignments and refreshments. The Company’s route network includes approximately 151 markets throughout North America, Central America, South America and the Caribbean. The Firm operates international services to Aruba, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Peru and St. Maarten, as well as Puerto Rico and the United States Virgin Islands.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment