Spirit Airlines Inc. (NYSE:SAVE) saw an upside of 0.50% to close Friday at $26.02 after adding $0.13 on the day. The 5-day average trading volume is 3,867,760 shares of the company’s common stock. It has gained $27.59 in the past week. An average of 3,844,040 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,191,422.
SAVE’s 1-month performance is 3.96% or $1.41 on its low of $23.79 reached on 09/13/21. The company’s shares have touched a 52-week low of $15.45 and high of $40.77, with the stock’s rally to the 52-week high happening on 03/18/21. YTD, SAVE has achieved 6.42% or $1.57. However, the current price is down -36.18%% from the 52-week high price.
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On Sep 01, 40 days have gone by since the last insider trading activity for Spirit Airlines Inc. (SAVE). JOHNSON ROBERT D (Director) most recently sold 500 shares at $24.72 per share on Sep 01. This transaction cost the insider $12,360. SVP and CIO, Wiggins Rocky, sold 3,000 shares at a price of $22.95 on Aug 20. Then, on Jun 01, Director JOHNSON ROBERT D sold 500 shares at a price of $35.95 per share. This transaction amounted to $17,975.
Spirit Airlines Inc. (SAVE) has a trailing price-to-earnings (P/E) ratio of 18.35 for the broader industry and 28.65 for the sector. The company’s PE ratio for the last five years has touched a high of 107.56 and a low of 1.716. SAVE stock has a beta of 1.67. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.26 while the price-to-book (PB) in the most recent quarter is 1.26, with the price to cash flow ratio at 23.41.
Spirit Airlines Inc.’s quick ratio for the period ended June 29 was 1.50, with the current ratio over the same period at 1.50 meaning that SAVE stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.38, while the total debt to equity was 1.48. In terms of profitability, the gross margin trailing 12 months is 2.70%. The trailing 12-month EBITDA margin is -29.26% while for the period ending June 29; Spirit Airlines Inc.’s operating margin was -27.00%. The firm’s gross profit as reported stood at $1.38 billion against revenue of $1.81 billion.
For the quarterly period ending June 29 this year, Spirit Airlines Inc.’s cash and short-term investments amounted to $106.38 million against total debt of $4.79 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 83.88% to $859.31 million, while revenue of $461.28 million was 46.32% off the previous quarter. Analysts expected SAVE to announce -$0.81 per share in earnings in its latest quarter, but it posted -$0.34, representing a 58.00% surprise. EBITDA for the quarter stood at more than $170.57 million. SAVE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 6.49 billion, with total debt at $4.79 billion. Shareholders hold equity totaling $108.4 million
Let’s look briefly at Spirit Airlines Inc. (SAVE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 49.22% to suggest the stock is trending Neutral, with historical volatility in this time period at 29.03%.
The stock’s 5-day moving average is $26.44, reflecting a -3.45% or -$0.93 change from its current price. SAVE is currently trading +7.92% above its 20-day SMA, -27.14% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -8.19% and +8.24% respectively.
Stochastic %K and %D was 51.58% and 61.59% and the average true range (ATR) pointed at 0.95. The RSI (14) points at 51.04%, while the 14-day stochastic is at 47.68% with the period’s ATR at 0.96. The stock’s 9-day MACD Oscillator is pointing at -0.41 and -0.24 on the 14-day charts.
In the most recent analyst report for Spirit Airlines Inc. (NYSE: SAVE), JP Morgan downgraded it to a Neutral rating. They previously had an Overweight rating on the stock. Analysts offering their rating for SAVE stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate SAVE as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 5 have offered a “buy” rating.
What is SAVE’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $28.00 and a high of $46.00, with their median price target at $35.00. Looking at these predictions, the average price target given by analysts is for Spirit Airlines Inc. (SAVE) stock is $36.00.