SAVE (Spirit Airlines Inc.) stock is in for a key growth catalyst

As of close of business last night, Spirit Airlines Inc.’s stock clocked out at 22.43, up 0.40% from its previous closing price of $22.34. In other words, the price has increased by $+0.09 from its previous closing price. On the day, 1099952 shares were traded. SAVE reached its highest trading level at $22.50 during the session, while it also had its lowest trading level at $22.10.

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To gain a deeper understanding of SAVE’s stock, we examine its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.00 and its Current Ratio is at 1.00. In the meantime, Its Debt-to-Equity ratio is 1.63 whereas as Long-Term Debt/Eq ratio is at 1.44.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Cowen on August 01, 2022, Downgraded its rating to Market Perform and sets its target price to $30 from $40 previously.

On July 29, 2022, JP Morgan Downgraded its rating to Underweight which previously was Overweight and also lowered its target price recommendation from $30 to $29.

JP Morgan Upgraded its Neutral to Overweight on June 10, 2022, whereas the target price for the stock was revised from $24 to $30.

Insider Transactions:

Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on May 20 when Wiggins Rocky sold 1,300 shares for $19.00 per share. The transaction valued at 24,700 led to the insider holds 33,869 shares of the business.

Canfield Thomas C sold 12,349 shares of SAVE for $338,857 on Feb 15. The SVP, General Counsel and Sec now owns 75,151 shares after completing the transaction at $27.44 per share. On Feb 15, another insider, Vanier Kevin Blake, who serves as the VP of FP & A of the company, sold 1,100 shares for $27.23 each. As a result, the insider received 29,953 and left with 26,560 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, SAVE now has a Market Capitalization of 2.46B and an Enterprise Value of 6.38B. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.59 while its Price-to-Book (P/B) ratio in mrq is 1.30. Its current Enterprise Value per Revenue stands at 1.50 whereas that against EBITDA is -397.75.

Stock Price History:

The Beta on a monthly basis for SAVE is 1.05, which has changed by -16.06% over the last 52 weeks, in comparison to a change of -15.65% over the same period for the S&P500. Over the past 52 weeks, SAVE has reached a high of $28.30, while it has fallen to a 52-week low of $15.92. The 50-Day Moving Average of the stock is 23.73, while the 200-Day Moving Average is calculated to be 22.89.

Shares Statistics:

It appears that SAVE traded 2.17M shares on average per day over the past three months and 1.9M shares per day over the past ten days. A total of 108.70M shares are outstanding, with a floating share count of 108.40M. Insiders hold about 0.10% of the company’s shares, while institutions hold 68.60% stake in the company. Shares short for SAVE as of Aug 30, 2022 were 6.32M with a Short Ratio of 2.92, compared to 6.23M on Jul 28, 2022. Therefore, it implies a Short% of Shares Outstanding of 5.81% and a Short% of Float of 5.83%.

Earnings Estimates

As of right now, 9 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of $-0.08 for the current quarter, with a high estimate of $0.1 and a low estimate of $-0.26, while EPS last year was $-0.69. The consensus estimate for the next quarter is $-0.07, with high estimates of $0.15 and low estimates of $-0.45.

Analysts are recommending an EPS of between $-1.65 and $-2.55 for the fiscal current year, implying an average EPS of $-2.03. EPS for the following year is $1.1, with 9 analysts recommending between $3 and $0.15.

Revenue Estimates

In the current quarter, 8 analysts expect revenue to total $1.35B. It ranges from a high estimate of $1.38B to a low estimate of $1.33B. As of the current estimate, Spirit Airlines Inc.’s year-ago sales were $922.4M, an estimated increase of 46.60% from the year-ago figure. For the next quarter, 8 analysts are estimating revenue of $1.4B, an increase of 41.30% less than the figure of $46.60% in the same quarter last year. There is a high estimate of $1.51B for the next quarter, whereas the lowest estimate is $1.35B.

A total of 9 analysts have provided revenue estimates for SAVE’s current fiscal year. The highest revenue estimate was $5.19B, while the lowest revenue estimate was $5.02B, resulting in an average revenue estimate of $5.08B. In the same quarter a year ago, actual revenue was $3.23B, up 57.20% from the average estimate. Based on 10 analysts’ estimates, the company’s revenue will be $6.01B in the next fiscal year. The high estimate is $6.21B and the low estimate is $5.68B. The average revenue growth estimate for next year is up 18.40% from the average revenue estimate for this year.