Stephens Keeps a Buy Rating on Spirit Airlines

By Ryan Adsit

In a report released today, Jack Atkins from Stephens reiterated a Buy rating on Spirit Airlines (NASDAQ: SAVE), with a price target of $53. The company’s shares closed yesterday at $37.09.

According to TipRanks.com, Atkins is a 3-star analyst with an average return of 4.7% and a 55.6% success rate. Atkins covers the Services sector, focusing on stocks such as Echo Global Logistics, Landstar System Inc, and Southwest Airlines.

Currently, the analyst consensus on Spirit Airlines is Moderate Buy and the average price target is $51.17, representing a 38.0% upside.

In a report issued on April 11, Deutsche Bank also maintained a Buy rating on the stock with a $60 price target.

Spirit Airlines’ market cap is currently $2.53B and has a P/E ratio of 6.10. The company has a book value ratio of 1.4234.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock.

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 affordable travel to price-conscious customers. The company’s customers start with an unbundled, stripped-down Bare Fare and get Frill Control which allows them to pay only for the options they choose like bags, seat assignments and refreshments the things other airlines bake right into their ticket prices.