Morgan Stanley analyst Rajeev Lalwani maintained a Hold rating on Spirit Airlines (NASDAQ: SAVE) today and set a price target of $53. The company’s shares closed on Friday at $47.07, close to its 52-week high of $49.63.
According to TipRanks.com, Lalwani is a 4-star analyst with an average return of 5.4% and a 61.4% success rate. Lalwani covers the Services sector, focusing on stocks such as Allegiant Travel Company, Southwest Airlines, and United Continental.
Spirit Airlines has an analyst consensus of Moderate Buy, with a price target consensus of $56.33.
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Based on Spirit Airlines’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $11.25 million. In comparison, last year the company had a net profit of $60.19 million.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock.
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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.
