The stock of Spirit Airlines Inc (NYSE: SAVE) has increased by 19.06 when compared to last closing price of 10.44. Despite this, the company has experienced a 41.57% gain in its stock price over the last five trading sessions. Seeking Alpha reported 2023-11-19 that Spirit Airlines and JetBlue’s proposed merger is still awaiting a final verdict from the DOJ after almost a year and a half. Spirit’s value lies in its Airbus orders, which include more than 100 airplanes that will significantly increase capacity and fuel efficiency. Despite a forecasted net loss for FY’23 and FY’24, there is potential for Spirit to become profitable again in H2’24 and achieve significant net income in the future.
Is It Worth Investing in Spirit Airlines Inc (NYSE: SAVE) Right Now?
compared to its average ratio and a 36-month beta value of 1.17. Analysts have mixed views on the stock, with 1 analysts rating it as a “buy,” 0 as “overweight,” 8 as “hold,” and 1 as “sell.”
The average price point forecasted by analysts for Spirit Airlines Inc (SAVE) is $16.75, which is $4.32 above the current market price. The public float for SAVE is 108.16M, and currently, short sellers hold a 9.81% ratio of that float. The average trading volume of SAVE on November 20, 2023 was 2.93M shares.
SAVE’s Market Performance
SAVE stock saw a decrease of 41.57% in the past week, with a monthly decline of -23.09% and a quarterly a decrease of -24.06%. The volatility ratio for the week is 12.41%, and the volatility levels for the last 30 days are 8.61% for Spirit Airlines Inc (SAVE). The simple moving average for the last 20 days is 1.08% for SAVE stock, with a simple moving average of -22.68% for the last 200 days.
Analysts’ Opinion of SAVE
Many brokerage firms have already submitted their reports for SAVE stocks, with Deutsche Bank repeating the rating for SAVE by listing it as a “Hold.” The predicted price for SAVE in the upcoming period, according to Deutsche Bank is $24 based on the research report published on December 20, 2022 of the previous year 2022.
SAVE Trading at -15.11% from the 50-Day Moving Average
After a stumble in the market that brought SAVE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -40.22% of loss for the given period.
Volatility was left at 8.61%, however, over the last 30 days, the volatility rate increased by 12.41%, as shares sank -23.93% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.37% lower at present.
During the last 5 trading sessions, SAVE rose by +41.57%, which changed the moving average for the period of 200-days by -37.66% in comparison to the 20-day moving average, which settled at $12.11. In addition, Spirit Airlines Inc saw -32.38% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for SAVE
Current profitability levels for the company are sitting at:
- -2.61 for the present operating margin
- +0.90 for the gross margin
The net margin for Spirit Airlines Inc stands at -10.93. The total capital return value is set at -1.76, while invested capital returns managed to touch -7.88. Equity return is now at value -33.87, with -5.92 for asset returns.
Based on Spirit Airlines Inc (SAVE), the company’s capital structure generated 393.93 points at debt to equity in total, while total debt to capital is 79.75. Total debt to assets is 60.38, with long-term debt to equity ratio resting at 359.88. Finally, the long-term debt to capital ratio is 72.86.
When we switch over and look at the enterprise to sales, we see a ratio of 1.10, with the company’s debt to enterprise value settled at 0.92. The receivables turnover for the company is 25.33 and the total asset turnover is 0.52. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.25.
To put it simply, Spirit Airlines Inc (SAVE) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.