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SAVE

Spirit Airlines, Inc.

https://www.spirit.com

Industry

Airlines, Airports & Air Services

Spirit Airlines, Inc. provides airline services. It serves 85 destinations in 16 countries in the United States, Latin America, and the Caribbean. As of December 31, 2021, the company had a fleet of 173 Airbus single-aisle aircraft. It sells tickets through its call centers and airport ticket counters, as well as online through spirit.com; and through various third parties, including online, traditional travel agents, and electronic global distribution systems. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc. in 1992. Spirit Airlines, Inc. was founded in 1964 and is headquartered in Miramar, Florida.

Open

2.73

Mkt cap

298M

Volume

High

2.80

P/E Ratio

-0.44

52-wk high

17.02

Low

2.65

Div yield

0.15

52-wk low

1.40

Citigroup analyst Stephen Trent has downgraded Spirit Airlines (NYSE:SAVE) from Neutral to Sell and reduced the price target from $13 to $4, indicating a bearish outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 10:56 am

Discover Financial Services reported a significant drop in Q4 profit, with earnings per share of $1.54, missing the expected $2.52. Despite beating revenue estimates, its shares fell 10.1% in pre-market trading. Plug Power announced a sales agreement for up to $1 billion in stock, causing shares to drop 15.2%. Other stocks mentioned also experienced declines in pre-market trading, including Nukkleus, Talos Energy, Spirit Airlines, On Holding, Ballard Power Systems, and e.l.f. Beauty, which is set to be replaced in the S&P SmallCap 600 by Peabody Energy.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 10:17 am

On Wednesday, U.S. stocks closed in the red with PayPal (PYPL) up 2.46%, Discover Financial (DFS) down 0.84% post-earnings, Spirit Airlines (SAVE) plummeting 22.47% after a blocked acquisition, TSMC (TSM) up 1.26% before Q4 earnings, and Tesla (TSLA) down 1.98% after a price cut in Germany.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 2:14 am

The U.S. Airline Group has urged for immediate measures to tackle the shortage of air traffic controllers and to modernize outdated FAA facilities. This call to action highlights the critical need for infrastructure improvements and staffing solutions to ensure the safety and efficiency of air travel.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 8:26 pm

A part involved in the recent blowout of a Boeing 737 MAX 9 operated by Alaska Airlines was manufactured in Malaysia, according to an official. The incident is under investigation, and the findings could have implications for Boeing and its customers, which include airlines like Delta Air Lines (DAL), Hawaiian Airlines (HA), Southwest Airlines (LUV), Spirit Airlines (SAVE), and United Airlines (UAL).

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 7:12 pm

The proposed merger between JetBlue Airways Corp (JBLU) and Spirit Airlines Inc (SAVE) was blocked by a U.S. District Court judge, causing a significant drop in stock prices for both companies. Analysts have downgraded Spirit Airlines stock, with BofA Securities rating it as Underperform and Susquehanna Financial Group downgrading it from Neutral to Negative, both setting a price target of $5. JetBlue's CEO is stepping down, and the incoming CEO may lead without pursuing the merger further.

Portfolio Pulse from Surbhi Jain

January 17, 2024 | 6:59 pm

Airspan Networks Holdings Inc. (MIMO) shares surged over 380% after announcing a partnership with GCT Semiconductor to develop an RF module. Other stocks experienced significant movement in Wednesday's mid-day session, with notable gainers including Treasure Global Inc. (TGL), LQR House Inc. (LQR), and ProQR Therapeutics N.V. (PRQR), among others. Losers included TuSimple Holdings Inc. (TSP), Phunware, Inc. (PHUN), and Adagene Inc. (ADAG). The session also saw various analyst ratings and price target changes affecting stocks like American Coastal Insurance Corporation (ACIC) and Maplebear Inc. (CART).

Portfolio Pulse from Avi Kapoor

January 17, 2024 | 6:12 pm

Spirit Airlines, Inc. (NYSE:SAVE) stock is trading lower due to a federal judge blocking its acquisition by JetBlue Airways Corporation (NASDAQ:JBLU). The $3.8 billion deal was halted as it was deemed harmful to consumers relying on Spirit's low-price model. President Biden supported the ruling, emphasizing the importance of competition. Spirit's shares dropped over 60% since the block, while JetBlue's shares fell 8.5%.

Portfolio Pulse from Erica Kollmann

January 17, 2024 | 5:48 pm

During Wednesday's intraday session, several industrial stocks experienced significant movements. BioNexus Gene Lab (BGLC), AgEagle Aerial Sys (UAVS), WANG & LEE Group (WLGS), Eos Energy Enterprises (EOSE), American Superconductor (AMSC), and Primech Holdings (PMEC) saw gains ranging from 9.35% to 20.6%. Conversely, TuSimple Hldgs (TSP), Roma Green Finance (ROMA), Spirit Airlines (SAVE), Mesa Air Gr (MESA), Aeries Technology (AERT), and Nauticus Robotics (KITT) faced declines between 13.15% and 52.9%.

Portfolio Pulse from Benzinga Insights

January 17, 2024 | 5:31 pm

Spirit Airlines' stock (SAVE) continues to trade lower after a federal judge blocked JetBlue Airways' acquisition attempt. The decision has halted the potential merger, negatively impacting Spirit's share value as investors reassess the airline's future without the anticipated acquisition benefits.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:46 pm

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