At the time of writing, Spirit Airlines Inc [SAVE] stock is trading at $2.79, up 15.29%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The SAVE shares have gain 89.80% over the last week, with a monthly amount glided 13.41%, and seem to be holding up well over a long-time horizon.
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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.
For the past year, the stock price of Spirit Airlines Inc fluctuated between $1.40 and $16.55. Currently, Wall Street analysts expect the stock to reach $17.48 within the next 12 months. Spirit Airlines Inc [NYSE: SAVE] shares were valued at $2.79 at the most recent close of the market. An investor can expect a potential return of 526.52% based on the average SAVE price forecast.
Analyzing the SAVE fundamentals
According to Spirit Airlines Inc [NYSE:SAVE], the company’s sales were 5.13B for trailing twelve months, which represents an -10.58% plunge. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 4.34.
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 2.59 points at the first support level, and at 2.40 for the second support level. However, for the 1st resistance point, the stock is sitting at 3.14, and for the 2nd resistance point, it is at 3.50.
Ratios To Look Out For
It is important to note that Spirit Airlines Inc [NYSE:SAVE] has a current ratio of 0.94. In addition, the Quick Ratio stands at 0.94 and the Cash Ratio stands at 0.56. Considering the valuation of this stock, the price to sales ratio is 0.06, the price to book ratio is 0.38.
