Morgan Stanley analyst Rajeev Lalwani maintained a Hold rating on Spirit Airlines (SAVE – Research Report) today and set a price target of $41. The company’s shares closed last Monday at $38.13, close to its 52-week low of $37.82.
According to TipRanks.com, Lalwani is a 4-star analyst with an average return of 4.6% and a 60.6% success rate. Lalwani covers the Services sector, focusing on stocks such as Allegiant Travel Company, Southwest Airlines, and American Airlines.
Currently, the analyst consensus on Spirit Airlines is a Moderate Buy with an average price target of $58.43.
Based on Spirit Airlines’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $115 million. In comparison, last year the company had a net profit of $11.25 million.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SAVE in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Spirit Airlines, Inc. is an airline that offers travel to price-conscious customers. The company’s customers start with an unbundled unbundled base fares that remove components included in the price of an airline ticket. The company was founded by Ned Homfeld in 1964 and is headquartered in Miramar, FL.