TD Cowen has recently reduced Spirit Airlines Inc (SAVE) stock to Sell rating, as announced on July 17, 2024, according to Finviz. Earlier, on July 8, 2024, Deutsche Bank had reduced the stock from a Hold to Sell, setting a price target of $2 for SAVE stock. Raymond James also reduced Underperform rating. Additionally, TD Cowen reiterated Hold rating on May 7, 2024, with a target price of $3. TD Cowen analysts, in their report published on April 16, 2024, also reiterated Hold rating and set a price target of $5 for Spirit Airlines Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Spirit Airlines Inc (SAVE) Stock Trading Recap
On Thursday, Spirit Airlines Inc (SAVE) stock saw a decline, ending the day at $2.4 which represents a decrease of $-0.11 or -4.38% from the prior close of $2.51. The stock opened at $2.5 and touched a low of $2.31 during the day, reaching a high of $2.52. The volume of shares traded was 8.28 million falling short of the average volume of 9.44 million.
SAVE Stock Performance and Moving Averages
In recent trading, Spirit Airlines Inc (SAVE) stock price has shown some volatility, fluctuating -0.83% over the last five trades and 3.45% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -34.78%, and it has plunged by -13.04% in the previous three months. Currently, SAVE is trading at 15.89%, 3.19%, and -36.89% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, SAVE, a Industrials sector stock, is trading -85.50% below its 52-week high but remains 71.43% above its 52-week low. The Average True Range (ATR) (14 days) of 0.33 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Spirit Airlines Inc’s Profitability and Valuation Ratios
Spirit Airlines Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of -13.32% and a profit margin of -13.20%, with a gross margin of -34.78%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Spirit Airlines Inc’s market capitalization stands at $262.84 million. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Sales Ratio is 0.05, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 0.32, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 1.22% of Spirit Airlines Inc (SAVE)’s shares, while financial institutions hold 57.28%.