Analyst Price Target Update on Spirit Airlines (NASDAQ:SAVE)

Spirit Airlines (NASDAQ:SAVE): The mean estimate for the short term price target for Spirit Airlines (NASDAQ:SAVE) stands at $56.91 according to 11 Analysts. The higher price target estimate for the stock has been calculated at $68 while the lower price target estimate is at $50.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Credit Suisse maintains the rating on Spirit Airlines (NASDAQ:SAVE). The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency lowers the price target from $46 per share to $44 per share. The rating by the firm was issued on April 26, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Spirit Airlines, Inc., Elkins David G, had purchased 1,500 shares in a transaction dated on March 17, 2016. The transaction was executed at $47.92 per share with total amount equaling $71,880.

Spirit Airlines (NASDAQ:SAVE) stock ended Monday session in the red zone in a volatile trading. The stock closed down 1.51 points or 3.3% at $44.3 with 1,528,735 shares getting traded. Post opening the session at $45.04, the shares hit an intraday low of $43.78 and an intraday high of $45.13 and the price was in this range throughout the day. The company has a market cap of $3,154 million and the number of outstanding shares have been calculated to be 71,207,390 shares. The 52-week high of Spirit Airlines (NASDAQ:SAVE) is $66.18 and the 52-week low is $32.73.

Spirit Airlines, Inc. is an airline company. The Companys all-Airbus fleet operates more than 300 daily flights to 56 destinations in the United States, Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low base fares with a range of optional services. The Companys route network includes approximately 151 markets served by 56 airports throughout North America, Central America, South America and the Caribbean. The Company operates international services to Aruba, the Bahamas, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Peru and St. Maarten, as well as Puerto Rico and the United States Virgin Islands.

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