As of Friday close, Spirit Airlines Inc.’s (NYSE:SAVE) stock was down -$0.21, moving down -1.24 percent to $16.67. The average number of shares traded per day over the past five days has been 1,184,760 shares. 3 times new highs have been achieved over the past 5 days, with a $0.58 gain in that time frame. In the last twenty days, the average volume was 1,544,665, while in the previous 50 days, it was 1,473,298.
Since last month, SAVE stock retreated -12.12%. Shares of the company fell to $15.52 on 08/15/23, the lowest level in the past month. A 52-week high of $23.49 was reached on 01/18/23 after having rallying from a 52-week low of $14.25. Since the beginning of this year, SAVE’s stock price has dropped by -10.95% or -$2.81, and marked a new high 6 times. However, the stock has declined by -29.05% since its 52-week high.
Valuation Metrics
The stock’s beta is 1.12. Besides these, the trailing price-to-sales (P/S) ratio of 0.33, the price-to-book (PB) ratio of 1.24.
The latest dividend of $0.10 per share was paid out, remained unchanged from last year’s $0.10.
Financial Health
In the three months ended June 29, Spirit Airlines Inc.’s quick ratio stood at 1.10, while its current ratio was 1.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 2.09, and the total debt-to-equity ratio was 2.25. On the profitability front, the trailing twelve-month gross margin is 23.40% percent. In the year ended June 29, EBITDA margin amounted to 3.57%, whereas operating margins totaled -7.90%. Based on annual data, SAVE earned $3.14 billion in gross profit and brought in $5.07 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -8.80%. Return on equity (ROE) for the past 12 months was -26.00%.
In Spirit Airlines Inc.’s quarter-end financial report for June 29, it reported total debt of $3.08 billion against cash and short-term investments of $109.49 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. SAVE’s revenue rose 4.6% to $1.35 billion during the quarter, while net income inched up to $1.43 billion. While analysts expected Spirit Airlines Inc. to report $0.38 quarterly earnings, the actual figure was $0.29 per share, beating the consensus estimate by -23.70%. During the quarter, the company generated $105.28 million in EBITDA. The liabilities of Spirit Airlines Inc. were 7.9 billion at the end of its most recent quarter ended June 29, and its total debt was $6.31 billion. The value of shareholders’ equity is $109.16 million.
Technical Picture
This quick technical analysis looks at Spirit Airlines Inc.’s (SAVE) price momentum. With a historical volatility rate of 38.14%, the RSI 9-day stood at 49.29% on 18 August.
With respect to its five-day moving average, the current Spirit Airlines Inc. price is up by +3.60% percent or $0.58. At present, SAVE shares trade -11.85% below its 20-day simple moving average and -0.30% percent below its 100-day simple moving average. However, the stock is currently trading approximately +6.11% above its SMA50 and -24.23% below its SMA200.
Stochastic coefficient K was 34.08% and Stochastic coefficient D was 22.67%, while ATR was 0.52. Given the Stochastic reading of 42.11% for the 14-day period, the RSI (14) reading has been calculated as 46.83%. As of today, the MACD Oscillator reading stands at 0.31, while the 14-day reading stands at 0.14.
Analyst Ratings
Spirit Airlines Inc. downgraded its rating on Spirit Airlines Inc. (NYSE: SAVE) to a Hold in a note to investors on December 20, 2022. The analysts firm previously had a Buy rating on the stock.Spirit Airlines Inc. (SAVE) has been rated Hold by analysts. According to 1 brokerage firm, SAVE is a sell, and 8 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 0 analysts rate Spirit Airlines Inc. stock as buy, with 1 recommending it as overweight.
With a median target price of $20.00, the current consensus forecast for the stock is $10.00 – $30.00. Based on these forecasts, analysts predict Spirit Airlines Inc. (SAVE) will achieve an average price target of $20.38.
