Share Repurchase Plan Initiated by Spirit Airlines (SAVE) Board

The Spirit Airlines Inc. (SAVE) Given “Equal Weight” Rating at Morgan Stanley

The Spirit Airlines Inc. (SAVE) Given “Equal Weight” Rating at Morgan Stanley

The company has a market cap of $2,484.95, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.46 and a beta of 0.71.

Several equities analysts recently commented on the stock.

Traders are more bearish on shares of Spirit Airlines Inc as indicated by the increase in short interest.

In other Spirit Airlines news, Director H. Mcintyre Gardner bought 5,000 shares of the business's stock in a transaction that occurred on Friday, September 15th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.17 by $0.07. Cowen and Company raised the price target on October 27 changing the price objective from $37.00 to $40.00 and issued a "Market Perform" recommendation. The stock was bought at an average cost of $33.78 per share, with a total value of $168,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Imperial Capital reissued an "in-line" rating and issued a $36.00 price objective (up previously from $32.00) on shares of Spirit Airlines in a research report on Friday, October 27th.

A number of hedge funds have recently modified their holdings of the stock. Spirit Airlines has a 1-year low of $35.17 and a 1-year high of $60.40. Insiders own 0.33% of the company's stock. Hudson Bay Capital Management LP increased its stake in shares of Spirit Airlines by 177.5% in the third quarter. Bank of America Corporation downgraded shares of Spirit Airlines from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $68.00 to $44.00 in a research note on Friday, July 28th. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company's stock valued at $112,000 after purchasing an additional 141 shares in the last quarter. First Personal Financial Services lifted its position in shares of Spirit Airlines by 87.9% in the third quarter. Heartland Advisors Inc. lifted its stake in shares of Spirit Airlines by 70.9% during the second quarter. Public Employees Retirement System of OH now owns 96,711 shares of the transportation company's stock valued at $5,132,000 after buying an additional 246 shares during the period.

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Spirit Airlines (NASDAQ:SAVE) last released its earnings results on Tuesday, October 25th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Morgan Stanley raised the price target of the stock on October 23 boosting the projection from $38.00 to $39.00 and issued a "Equal Weight" rating. Heartland Advisors Inc. now owns 140,822 shares of the transportation company's stock valued at $7,273,000 after buying an additional 58,405 shares during the period. The company had revenue of $687.20 million during the quarter, compared to analyst estimates of $686.13 million. Finally, Clinton Group Inc. purchased a new position in shares of Spirit Airlines during the second quarter valued at approximately $813,000. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%.

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Spirit Airlines (NASDAQ:SAVE) announced that its board has approved a stock repurchase plan, which allows the company to repurchase $100.00 million in outstanding shares on Thursday, October 26th, EventVestor reports. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of US and worldwide trademark and copyright laws. The firm's revenue for the quarter was up 10.6% compared to the same quarter past year. During the same quarter in the previous year, the company posted $1.24 EPS. equities research analysts forecast that Spirit Airlines, Inc. will post 3.08 earnings per share for the current year. The original version of this article can be read at https://www.truebluetribune.com/2017/11/13/state-street-corp-trims-position-in-spirit-airlines-inc-save.html.

The value of the total investment in Spirit Airlines Inc decreased from $648,000 to $418,000 a change of $230,000 quarter over quarter. The Company provides air transportation for passengers.

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