Spirit Airlines Inc. (NYSE:SAVE) price closed lower on Tuesday, September 14, dropping -1.05% below its previous close.
A look at the daily price movement shows that the last close reads $24.72, with intraday deals fluctuated between $24.22 and $24.86. The company’s 5Y monthly beta was ticking 1.69. Taking into account the 52-week price action we note that the stock hit a 52-week high of $40.77 and 52-week low of $15.06. The stock subtracted -1.09% on its value in the past month.
Spirit Airlines Inc., which has a market valuation of $2.75 billion, is expected to release its quarterly earnings report Oct 26, 2021 – Nov 01, 2021. Analysts tracking SAVE have forecast the quarterly EPS to shrink by -0.77 per share this quarter, while the same analysts predict the annual EPS to hit -$3.61 for the year 2021 and up to $1.5 for 2022. In this case, analysts estimate an annual EPS growth of 57.40% for the year and 141.60% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $953.85 million, with the likely lows of $888 million and highs of $1.08 billion. Staying with the analyst view, there is a consensus estimate of $3.36 billion for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to grow 85.40% above that which the company brought in 2021.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give SAVE a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 14 analysts have assigned SAVE a recommendation rating as follows: 7 rate it as a Hold; 6 advise Buy while 1 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Spirit Airlines Inc. (SAVE) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Overweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that SAVE’s price is at present 0.41% off the SMA20 and -6.88% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 45.10, with weekly volatility standing at 4.58%. The indicator jumps to 3.76% when calculated based on the past 30 days. Spirit Airlines Inc. (NYSE:SAVE)’s beta value is holding at 1.69, while the average true range (ATR) indicator is currently reading 0.98. Considering analysts have assigned the stock a price target range of $35.00-$46.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $38.20. Based on this estimate, we see that current price is roughly -43.09% off the estimated low and -88.06% off the forecast high. Investors will no doubt be excited to see the share price fall to $36.00, which is the median consensus price, and at that level SAVE would be -47.18% from current price.
Turning out attention to how the Spirit Airlines Inc. stock has performed in comparison to its peers in the industry, here’s what we find: SAVE’s stock is -1.05% on the day and 37.18% in the past 12 months, while Delta Air Lines Inc. (DAL) traded -1.84% in the last session and was positioned 20.17% up on its price 12 months ago. Another comparison is with Alaska Air Group Inc. (ALK) whose stock price was down -1.50% in the last trading session, and has flourished 35.63% over the past year. Also, Southwest Airlines Co. (LUV) showed down trend of -1.44% while its price kept floating at 19.90% over the past year. Elsewhere in the market, the S&P 500 Index has stumbled -0.57% in last trading session, with the Dow Jones Industrial also saw a negative session on the day with -0.84%.
An analysis of the Spirit Airlines Inc. (NYSE:SAVE) stock in terms of its daily trading volume indicates that the 3-month average is 4.09 million.
Current records show that the company has 105.26M in outstanding shares. The insiders’ percentage holdings are 0.20% of outstanding shares while the percentage share held by institutions stands at 64.10%. But the 0.04% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.