Spirit Airlines Inc. (NYSE:SAVE) traded with a subtraction of -$1.19 to $25.82 on Wednesday, a downside of -4.41 percent. An average of 3,656,275 shares of common stock have been traded in the last five days. There was a fall of -$0.94 in the past week. The last 20 days have seen an average of 3,825,459 shares traded, while the 50-day average volume stands at 4,139,675.
SAVE stock has increased by 9.89% in the last month. The company shares reached their 1-month lowest point of $23.79 on 09/13/21. With the stock rallying to its 52-week high on 03/18/21, shares of the company touched a low of $15.45 and a high of $40.77 in 52 weeks. In spite of this, the price is down -36.67% from the 52-week high.
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35 days have passed since Spirit Airlines Inc. (SAVE) last reported insider trading activity. JOHNSON ROBERT D, who is Director, most recently acquired $500 shares at $24.72 per share on Sep 01. In this transaction, the insider spent $12,360. SVP and CIO, Wiggins Rocky, disposed of 3,000 shares at a price of $22.95 on Aug 20. The insider now owns more than $68,850 worth of shares. Prior to that, Director JOHNSON ROBERT D went on to Sale 500 shares at $35.95 each on Jun 01. An amount of $17,975 was transacted.
Spirit Airlines Inc. (SAVE) has a trailing price-to-earnings (P/E) ratio of 18.35 for the broader industry and 28.12 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, Spirit Airlines Inc.’s PE ratio has ranged between 107.56 and 1.716. The stock’s beta is 1.62. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.27, the price-to-book (PB) ratio at 1.30, and the price-to-cash flow ratio at 23.50.
The quick ratio of Spirit Airlines Inc. for the three months ended June 29 was 1.50, and the current ratio was 1.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.38 and a total debt to equity ratio of 1.48 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 2.70% against a 5-year average of 21.7%. Spirit Airlines Inc.’s EBITDA margin for the year ending June 29 is -29.26%, while its operating margin for the same period stands at -27.00%. Its gross profit as reported stood at $1.38 billion compared to revenue of $1.81 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Spirit Airlines Inc.’s return on assets was -7.70%, compared to 4.8% over the last five years. In the past year, the return on investment has been -6.50%, and the 5-year average is 7.1%. Meanwhile, the return on equity (ROE) for the past 12 months has been -29.40% and the 5-year average holds at 10.4%. For the broader industry, ROE averaged 13.58 over the past year.
For the three-month period that ended June 29, Spirit Airlines Inc. had $106.38 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $859.31 million in the quarter, while revenues of $461.28 million were grew 83.88%. The analyst consensus anticipated Spirit Airlines Inc.’s latest quarter earnings to come in at -$0.81 per share, but it turned out to be -$0.34, a 58.00% surprise. For the quarter, EBITDA amounted to $170.57 million. Shareholders own equity worth $108.4 million.
From a technical analysis perspective, let’s take a brief look at Spirit Airlines Inc. (SAVE) price momentum. RSI 9-day as of the close on 05 October was 45.28%, suggesting the stock is Neutral, with historical volatility in this time frame at 38.64%.
As of today, SAVE’s price is $26.50 -3.54% or -$0.94 from its 5-day moving average. SAVE is currently trading +4.19% higher than its 20-day SMA and -26.68% lower than its 100-day SMA. However, the stock’s current price level is -8.53% below the SMA50 and -0.93% below the SMA200.
The stochastic %K and %D were 65.32% and 70.47%, respectively, and the average true range (ATR) was 1.01. With the 14-day stochastic at 40.94% and the average true range at 1.00, the RSI (14) stands at 48.38%. The stock has reached -0.08 on the 9-day MACD Oscillator while the 14-day reading was at 0.40.
JP Morgan downgraded Spirit Airlines Inc. (NYSE: SAVE) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a an Overweight.The consensus rating for Spirit Airlines Inc. (SAVE) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SAVE, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 others rate it as a “buy”.
What is SAVE’s price target for the next 12 months?
Analysts predict a range of price targets between $28.00 and $46.00, with a median target of $35.00. Taking a look at these predictions, the average price target given by analysts for Spirit Airlines Inc. (SAVE) stock is $36.00.