An interesting stock that came up in some of our conversations today is Spirit Airlines, Inc. (NYSE:SAVE). At current price of $42.71, the shares have already added 3.03 points (7.64% higher) from its previous close of $39.68. Should you buy or avoid them? The stock sets an active trading volume day with a reported 578342 contracts so far this session. SAVE shares had a relatively better volume day versus average trading capacity of 1.08 million shares, but with a 67.99 million float and a -0.65% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SAVE stock indicates that the average analyst price target is $46.73 per share. This means the stock has a potential increase of 9.41% from where the SAVE share price has been trading recently.
During the recent trading session for Spirit Airlines, Inc. (NYSE:SAVE), the company witnessed their stock rise $1.7 over a week and surge $0.74 from the price 20 days ago. When compared to their established 52-week high of $64.76, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 12/02/19. The recent low of $32.97 stood for a -34.05% since 03/10/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.37 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Spirit Airlines, Inc., the two-week RSI stands at 66.04. This figure suggests that SAVE stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SAVE readings is similarly very revealing as it has a stochastic reading of 65.53% at this stage. This figure means that SAVE share price today is being neutral.
Technical chart claims that Spirit Airlines, Inc. (SAVE) would settle between $40.05/share to $40.42/share level. However, if the stock price goes below the $39.45 mark, then the market for Spirit Airlines, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $39.23 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.4. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Vertical Research raised their recommendation on shares of SAVE from Hold to Buy in their opinion released on January 09. Buckingham Research analysts bumped their rating on Spirit Airlines, Inc. (NYSE:SAVE) stock from Neutral to Buy in a separate flash note issued to investors on December 02. Analysts at Susquehanna, made their first call for the equity with a Neutral recommendation, according to a research note that dated back to November 20.
SAVE equity has an average rating of 2.5, with the figure leaning towards a bullish end. 14 analysts who tracked the company were contacted by Reuters. Amongst them, 8 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 6 analysts rated Spirit Airlines, Inc. (NYSE:SAVE) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SAVE stock price is currently trading at 8.21X forward 12-month Consensus EPS estimates, and its P/E ratio is 7.9 while for the average stock in the same group, the multiple is 11.1. Spirit Airlines, Inc. current P/B ratio of 1.2 means it is trading at a discount against its industry’s 2.3.
Spirit Airlines, Inc. (SAVE)’s current-quarter revenues are projected to climb by nearly 10.7% to hit $954790, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 14.8% from $3.32 billion to a noteworthy $3.81 billion. At the other end of the current quarter income statement, Spirit Airlines, Inc. is expected to see its adjusted earnings surge by roughly -24.6% to hit $1.04 per share. For the fiscal year, SAVE’s earnings are projected to climb by roughly 11.1% to hit $4.89 per share.