Spirit Airlines, Inc. (NYSE:SAVE) has a beta value of 1.28 and has seen 5,070,087 shares traded in the recent trading session. The company, currently valued at $1.61 Billion, closed the recent trade at $18.13 per share which meant it gained $0.1 on the day or 0.67% during that session. The SAVE stock price is -204.52% off its 52-week high price of $55.21 and 61.33% above the 52-week low of $7.01. If we look at the company’s 10-day average daily trading volume, we find that it stood at 20.91 Million shares traded. The 3-month trading volume is 22.85 Million shares.
The consensus among analysts is that Spirit Airlines, Inc. (SAVE) is a Hold stock at the moment, with a recommendation rating of 2.9. 3 analysts rate the stock as a Sell, while none rate it as Overweight. 5 out of 15 have rated it as a Hold, with 6 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$2.84.
Spirit Airlines, Inc. (NYSE:SAVE) trade information
Despite being -0.86% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Jun 24 when the SAVE stock price touched $18.41- or saw a rise of 3.69%. Year-to-date, Spirit Airlines, Inc. shares have moved -56.02%, while the 5-day performance has seen it change -5.59%. Over the past 30 days, the shares of Spirit Airlines, Inc. (NYSE:SAVE) have changed 36.91%. Short interest in the company has seen 19.37 Million shares shorted with days to cover at 0.85.
Wall Street analysts have a consensus price target for the stock at $16.21, which means that the shares’ value could jump -10.59% from current levels. The projected low price target is $7 while the price target rests at a high of $29. In that case, then, we find that the current price level is +59.96% off the targeted high while a plunge would see the stock lose -61.39% from current levels.
Spirit Airlines, Inc. (SAVE) estimates and forecasts
Figures show that Spirit Airlines, Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -55.64% over the past 6 months, with this year growth rate of -216.9%, compared to -34.3% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -268% and -233.3% for the next quarter. Revenue growth from the last financial year stood is estimated to be -52.8%.
10 analysts offering their estimates for the company have set an average revenue estimate of $88.08 Million for the current quarter. 11 have an estimated revenue figure of $372.25 Million for the next quarter concluding in September 01, 2020. Year-ago sales stood $1.01 Billion for this quarter, and analysts expect sales will grow by -91.3% for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +9.6% over the past 5 years. Earnings growth for 2020 is a modest +114.9% while over the next 5 years, the company’s earnings are expected to increase by -14.18%.
Spirit Airlines, Inc. (NYSE:SAVE)’s Major holders
Insiders own 0.76% of the company shares, while shares held by institutions stand at 102.2% with a share float percentage of 102.98%. Investors are also buoyed by the number of investors in a company, with Spirit Airlines, Inc. having a total of 322 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 10.18 Million shares worth more than $131.22 Million. As of March 30, 2020, FMR, LLC held 14.85% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 6.36 Million shares as of March 30, 2020. The firm’s total holdings are worth over $82Million and represent 9.28% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Advisor Growth Opportunities Fund and Fidelity Blue Chip Growth Fund. As of March 30, 2020, the former fund manager holds about 4.5% shares in the company for having 3084252 shares of worth $39.76 Million while later fund manager owns 2.16 Million shares of worth $27.81 Million as of March 30, 2020, which makes it owner of about 3.15% of company’s outstanding stock.