Spirit Airlines, Inc. (NYSE:SAVE) has a beta value of 1.7 and has seen 2,653,840 shares traded in the recent trading session. The company, currently valued at $3.41 Billion, closed the recent trade at $34.75 per share which meant it lost -$1.07 on the day or -2.99% during that session. The SAVE stock price is -17.32% off its 52-week high price of $40.77 and 79.14% above the 52-week low of $7.25. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.92 Million shares traded. The 3-month trading volume is 5.14 Million shares.
The consensus among analysts is that Spirit Airlines, Inc. (SAVE) is an Overweight stock at the moment, with a recommendation rating of 2.8. 1 analysts rate the stock as a Sell, while none rate it as Overweight. 7 out of 13 have rated it as a Hold, with 5 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$1.04.
Spirit Airlines, Inc. (NYSE:SAVE) trade information
Wall Street analysts have a consensus price target for the stock at $41.68, which means that the shares’ value could jump 19.94% from the levels at last check today. The projected low price target is $25 while the price target rests at a high of $54. In that case, then, we find that the latest price level in today’s session is +55.4% off the targeted high while a plunge would see the stock lose -28.06% from the levels at last check today.
Spirit Airlines, Inc. (SAVE) estimates and forecasts
Figures show that Spirit Airlines, Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +130.21% over the past 6 months, with this year growth rate of 62.15%, compared to 39.9% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 71% and 91.4% for the next quarter. Revenue growth from the last financial year stood is estimated to be +76%.
10 analysts offering their estimates for the company have set an average revenue estimate of $798.74 Million for the current quarter. 10 have an estimated revenue figure of $940.29 Million for the next quarter concluding in September 01, 2021. Year-ago sales stood $108.38 Million for this quarter, and analysts expect sales will grow by 637% 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 -27% over the past 5 years. Earnings growth for 2021 is a modest -217.1%.
Spirit Airlines, Inc. (NYSE:SAVE)’s Major holders
Insiders own 0.39% of the company shares, while shares held by institutions stand at 64.01% with a share float percentage of 64.26%. Investors are also buoyed by the number of investors in a company, with Spirit Airlines, Inc. having a total of 321 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 8.36 Million shares worth more than $204.4 Million. As of December 30, 2020, Vanguard Group, Inc. (The) held 8.55% of shares outstanding.
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The other major institutional holder is Blackrock Inc., with the holding of over 7.35 Million shares as of December 30, 2020. The firm’s total holdings are worth over $179.67 Million and represent 7.51% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are ETF Series Solutions-U.S. Global Jets ETF and U.S. Global Airline ETF. As of December 30, 2020, the former fund manager holds about 4.7% shares in the company for having 4601374 shares of worth $112.5 Million while later fund manager owns 4.37 Million shares of worth $161.24 Million as of March 30, 2021, which makes it owner of about 4.47% of company’s outstanding stock.