Spirit Airlines Inc [SAVE] stock prices are up 4.55% to $2.76 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value.
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From an analyst’s perspective:
Spirit Airlines Inc [NYSE: SAVE] stock has seen the most recent analyst activity on July 17, 2024, when TD Cowen downgraded its rating to a Sell and also revised its price target to $2 from $3. Previously, Deutsche Bank downgraded its rating to Sell on July 08, 2024, and dropped its price target to $2. On July 05, 2024, downgrade downgraded it’s rating to Underperform. TD Cowen reiterated its Hold rating and decreased its price target to $3 on May 07, 2024. TD Cowen reiterated its recommendation of a Hold and reduced its price target to $4 on April 16, 2024. In a note dated January 22, 2024, TD Cowen reiterated an Market Perform rating on this stock and revised its target price from $11 to $5.
The stock price of Spirit Airlines Inc [SAVE] has been fluctuating between $2.55 and $17.00 over the past year. Currently, Wall Street analysts expect the stock to reach $17.5 within the next 12 months. Spirit Airlines Inc [NYSE: SAVE] shares were valued at $2.76 at the most recent close of the market. An investor can expect a potential return of 534.06% based on the average SAVE price forecast.
Analyzing the SAVE fundamentals
The Spirit Airlines Inc [NYSE:SAVE] reported sales of 5.13B for trailing twelve months, representing a drop of -10.58%. Gross Profit Margin for this corporation currently stands at 0.02% with Operating Profit Margin at -0.15%, Pretax Profit Margin comes in at -0.15%, and Net Profit Margin reading is -0.13%. To continue investigating profitability, this company’s Return on Assets is posted at -0.07, Equity is -0.64 and Total Capital is -0.1. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of4.34.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 2.61 points at the first support level, and at 2.45 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.85, and for the 2nd resistance point, it is at 2.93.
Ratios To Look Out For
It’s worth pointing out that Spirit Airlines Inc [NYSE:SAVE]’s Current Ratio is 0.94. On the other hand, the Quick Ratio is 0.94, and the Cash Ratio is 0.56. Considering the valuation of this stock, the price to sales ratio is 0.06, the price to book ratio is 0.37.
