Is Spirit Airlines (NASDAQ:SAVE) a Stock One Should Sell Following Today’s Deutsche Bank Downgrade?

December 8, 2017 - By Migdalia James

  Is Spirit Airlines (NASDAQ:SAVE) a Stock One Should Sell Following Today’s Deutsche Bank Downgrade?

Investors sentiment increased to 0.99 in Q2 2017. Its up 0.09, from 0.9 in 2017Q1. It is positive, as 30 investors sold Spirit Airlines, Inc. shares while 78 reduced holdings. 48 funds opened positions while 59 raised stakes. 65.22 million shares or 3.00% less from 67.24 million shares in 2017Q1 were reported.

1,643 are owned by First Personal Fin. 21,592 were accumulated by Bluemountain Capital Mgmt. Gsa Ptnrs Limited Liability Partnership owns 10,183 shares. Essex Investment Mngmt Ltd Liability Corporation owns 83,092 shares or 0.61% of their US portfolio. Johnson reported 400 shares stake. 7,000 were reported by New Jersey Better Educational Savings. Polaris Mgmt Lc holds 38,998 shares. Barclays Public Limited Company reported 0% stake. Moreover, Pacad Inv has 0.08% invested in Spirit Airlines, Inc. (NASDAQ:SAVE). Ubs Oconnor Lc has 0% invested in Spirit Airlines, Inc. (NASDAQ:SAVE) for 257,613 shares. Ajo Lp accumulated 1.18M shares or 0.26% of the stock. Btc Capital Mngmt stated it has 36,890 shares. California Employees Retirement System reported 137,400 shares. Swiss Bankshares holds 29,100 shares. Laurion Capital Ltd Partnership holds 10,600 shares.

Spirit Airlines (NASDAQ:SAVE) Receives a Downgrade

Deutsche Bank has downgraded shares of Spirit Airlines (NASDAQ:SAVE) to a “Hold” rating in a research note released on 6 October. The firm now has a $38.0 target on shares. Deutsche Bank’s target gives a possibly downside of -11.40 % from the current price of the stock.

Investors sentiment increased to 0.99 in Q2 2017. Its up 0.09, from 0.9 in 2017Q1. It is positive, as 30 investors sold Spirit Airlines, Inc. shares while 78 reduced holdings. 48 funds opened positions while 59 raised stakes. 65.22 million shares or 3.00% less from 67.24 million shares in 2017Q1 were reported.

1,643 are owned by First Personal Fin. 21,592 were accumulated by Bluemountain Capital Mgmt. Gsa Ptnrs Limited Liability Partnership owns 10,183 shares. Essex Investment Mngmt Ltd Liability Corporation owns 83,092 shares or 0.61% of their US portfolio. Johnson reported 400 shares stake. 7,000 were reported by New Jersey Better Educational Savings. Polaris Mgmt Lc holds 38,998 shares. Barclays Public Limited Company reported 0% stake. Moreover, Pacad Inv has 0.08% invested in Spirit Airlines, Inc. (NASDAQ:SAVE). Ubs Oconnor Lc has 0% invested in Spirit Airlines, Inc. (NASDAQ:SAVE) for 257,613 shares. Ajo Lp accumulated 1.18M shares or 0.26% of the stock. Btc Capital Mngmt stated it has 36,890 shares. California Employees Retirement System reported 137,400 shares. Swiss Bankshares holds 29,100 shares. Laurion Capital Ltd Partnership holds 10,600 shares.

Spirit Airlines, Inc. (NASDAQ:SAVE) Ratings Coverage

Among 17 analysts covering Spirit Airlines (NASDAQ:SAVE), 5 have Buy rating, 2 Sell and 10 Hold. Therefore 29% are positive. Spirit Airlines has $75 highest and $33 lowest target. $47.35’s average target is 10.40% above currents $42.89 stock price. Spirit Airlines had 69 analyst reports since August 18, 2015 according to SRatingsIntel. The stock has “Market Perform” rating by Cowen & Co on Wednesday, January 4. The stock has “Buy” rating by Deutsche Bank on Wednesday, October 26. Imperial Capital initiated it with “Outperform” rating and $51 target in Thursday, September 29 report. The firm has “Buy” rating by Stifel Nicolaus given on Monday, July 17. The stock of Spirit Airlines, Inc. (NASDAQ:SAVE) has “Neutral” rating given on Friday, September 25 by Citigroup. The rating was downgraded by Raymond James to “Mkt Perform” on Friday, October 16. The firm has “Buy” rating by Citigroup given on Tuesday, July 19. The stock has “Neutral” rating by Citigroup on Friday, November 18. Morgan Stanley downgraded Spirit Airlines, Inc. (NASDAQ:SAVE) on Friday, October 16 to “Equal-Weight” rating. Citigroup maintained the shares of SAVE in report on Friday, October 27 with “Buy” rating.

The stock increased 1.64% or $0.69 during the last trading session, reaching $42.89. About 867,728 shares traded. Spirit Airlines, Inc. (NASDAQ:SAVE) has risen 28.69% since December 8, 2016 and is uptrending. It has outperformed by 11.99% the S&P500.

Analysts await Spirit Airlines, Inc. (NASDAQ:SAVE) to report earnings on February, 6. They expect $0.49 earnings per share, down 36.36 % or $0.28 from last year’s $0.77 per share. SAVE’s profit will be $33.99M for 21.88 P/E if the $0.49 EPS becomes a reality. After $0.94 actual earnings per share reported by Spirit Airlines, Inc. for the previous quarter, Wall Street now forecasts -47.87 % negative EPS growth.

Spirit Airlines, Inc. provides low-fare airline services. The company has market cap of $2.98 billion. As of February 7, 2017, it operated approximately 420 daily flights to 59 destinations in the United States, the Caribbean, and Latin America. It has a 12.43 P/E ratio. As of December 31, 2016, the firm had a fleet of 95 Airbus single-aisle aircraft comprising 29 A319s, 45 A320ceos, 5 A320neos, and 16 A321ceos.

More notable recent Spirit Airlines, Inc. (NASDAQ:SAVE) news were published by: Investorplace.com which released: “No need to Bail on Spirit Airlines’ (SAVE) Stock” on September 22, 2017, also Fool.com with their article: “Spirit Airlines Is Getting Back to Normal, but It Still Desperately Needs …” published on May 24, 2017, Fool.com published: “Spirit Airlines Incorporated Earnings: Pilot Problems Undermine Profit Growth” on July 27, 2017. More interesting news about Spirit Airlines, Inc. (NASDAQ:SAVE) were released by: Fool.com and their article: “Was Spirit Airlines’ Investor Update Good News or Bad News?” published on July 18, 2017 as well as Fool.com‘s news article titled: “Spirit Airlines Incorporated Earnings: The Worst Is Past” with publication date: April 28, 2017.

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